Ethereum 2.0: A Game Changer for Blockchain Technology
Ethereum 2.0, also known as Eth2 or The Merge, marks a significant upgrade to the Ethereum blockchain. Its primary aim is to address scalability, security, and energy efficiency while ensuring Ethereum's dominance in the decentralized ecosystem.
What’s New in Ethereum 2.0?
1. Transition to Proof of Stake (PoS):
Ethereum 2.0 has shifted from the energy-intensive Proof of Work (PoW) mechanism to PoS. This change reduces Ethereum's energy consumption by over 99%, making it more eco-friendly.
2. Scalability with Sharding:
Sharding splits the Ethereum network into smaller chains (shards), enabling parallel transactions and reducing network congestion. This innovation can handle thousands of transactions per second, a leap from Ethereum 1.0's 30 TPS.
