For years, Ethereum developers have been working on Ethereum 2.0, an upgrade to address the network’s scalability and security—most notably, by switching from a proof-of-work to a proof-of-stake model.
Ethereum 2.0 is approaching, here's what you need to know
//a thread🧵
What is Ethereum 2.0?
Ethereum 2.0, also known as Eth2 or “Serenity,” is an upgrade to the Ethereum blockchain. The upgrade aims to enhance the speed, efficiency, and scalability of the Ethereum network so that it can process more transactions and ease bottlenecks.
When is the upgrade happening?
Ethereum 2.0 is launching in several phases. The first upgrade, called the Beacon Chain, went live on December 1, 2020. The second phase, "the Merge," is expected in the second quarter of 2022 and will combine the Beacon Chain with Ethereum mainnet