en yt thumbnail 3 .jpg.optimal Why We're Excited for Ethereum 2.0

Why We’re Excited for Ethereum 2.0

-Ethereum’s long-awaited migration to Proof-of-Stake (PoS) may finally be happening in summer 2022.
-The primary purpose of the upgrade is to reduce the amount of energy consumed by the Ethereum blockchain by an estimated 99.95%.
-Users with staked coins will have a say in the network’s security.
-The switch from proof-of-work to proof-of-stake is unprecedented, so developers will want to make sure that they cover all bases thoroughly.
-A new parallel Beacon chain has been running proof-of-stake in parallel with the original Ethereum’s proof-of-work mechanism.
-Last month, developer Marius Van Der Wijden announced a “shadow fork,” which is essentially a practice merge of the proof-of-work and new proof-of-stake blockchains.
-The shadow fork enables the community to deploy smart contracts and test the blockchain infrastructure.
-Ethereum’s price may increase following the upgrade since ETH will become a deflationary currency.
-Some developers are wary of the upgrade, considering the high level of crypto expertise required to manage the migration and the risk of each expensive step.



en yt thumbnail 3 .jpg.optimal Why We're Excited for Ethereum 2.0
Why We're Excited for Ethereum 2.0 3

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