#Write2Earn #Topic
$ETH
What Is Ethereum 2.0 And Why Does It Matter?
ETH$2,497.3+0.38%
FOR$0.0-0.72%
HARD$0.2+4.03%
TL;DREthereum 2.0 is a long-awaited upgrade to the Ethereum (ETH) network that’s promised significant improvements to the functionality and experience of the network as a whole. Some of the more notable upgrades include a shift to Proof of Stake (PoS), shard chains, and a new blockchain at the core called the beacon chain. All of this and more is expected to be phased in through a carefully planned roadmap.But that’s just the tip of the iceberg. With ether being one of the most popular cryptocurrencies on the planet, there are important details about what Ethereum 2.0 truly is and how it’ll impact the crypto-verse as a whole.IntroductionSince the release of Ethereum, the development of new technologies in the form of decentralized applications (DApps) and other blockchains has greatly expanded. More importantly, many of these technologies have been built on top of the Ethereum network. Think of some of the biggest innovations of Decentralized Finance (DeFi) – a significant portion of them are running on top of Ethereum.Unfortunately, scalability issues started to emerge. As the number of transactions increased on the Ethereum network, so did the cost of performing these transactions (which are paid in gas). If Ethereum is supposed to be the platform that ushers in the next generation of the Internet, the economics has to make sense. Otherwise, it becomes impractical to use.That’s where Ethereum 2.0 comes in. The proposed ETH 2.0 upgrades to the Ethereum network are supposed to address, primarily, the scalability issue. These improvements will create a contrast to the existing version of Ethereum, all of which will be rolled out through a carefully planned roadmap.
