Eth2
Eth2, also known as Ethereum 2.0, is the next major upgrade to the Ethereum blockchain. It aims to improve scalability, security, and sustainability. Eth2 is being developed to address the limitations of the current Ethereum network, such as high transaction fees and slow transaction processing times.
One of the key features of Eth2 is the introduction of a new consensus mechanism called Proof of Stake (PoS). This replaces the current Proof of Work (PoW) mechanism used in Ethereum 1.0. With PoS, validators are chosen to create new blocks based on the amount of cryptocurrency they hold and are willing to "stake" as collateral. This shift to PoS is expected to significantly reduce energy consumption and increase network efficiency.
Another important aspect of Eth2 is the implementation of shard chains. Currently, all transactions on the Ethereum network are processed by a single chain, which can lead to congestion and slow down the network. Shard chains will divide the network into smaller pieces, or shards, allowing for parallel processing of transactions. This will greatly increase the network's capacity and improve scalability.
To learn more about Eth2, you can visit the official Ethereum website at . There, you will find detailed information about the upgrade, its features, and the roadmap for its implementation.