Dive into ethereum 2.0

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Hi there! if you're curious about crypto space and following up some of it mind blowing interesting news this article would probably catch your attention.

Ethereum blockchain came up with interesting means of tackling transaction congestion on it blockchain by introducing new "beacon" main net for uses to process transaction at a faster and convenient means by introducing ethereum 2.0

What exactly is ethereum 2.0

It's actually an improve scalable extensible advance version of old ethereum blockchain it's a shift from PoW to PoS consensus, integrated with shard chain to process fast transaction speed and execute smart contract.
Interestinly ETH 2.0 is completely a new version of ethereum blockchain with massive introduced project it's not a one time implemented project it will manifest in phase which mean all these new improved service integrated on the chain will happen in different phase so stay clam as all this phase are put into work.

There basically 3 phase which will takes approximate 1 to 2 years to complete phase 0, phase 1 and phase 2.0.

#phase 0 the new Beacon chain will be interesting which comprise of PoS consensus which allows validators to stake on the ETH 2.0 chain.
Note the old PoW consensus will work along side continuously with PoS consensus.

#phase 1 this phase will likely roll out in 2021 integration of shard chain where seamless transaction with much faster processing time will be embedded on the block.

#phase 2 >involve adding ether accounts and enabling transfers and withdrawals, implementing cross-shard transfers and contract calls, building execution environments so that scalable applications can be built on top of Ethereum 2.0, and bringing the Ethereum 1.0 chain into Ethereum 2.0 so that Proof of Work can finally be turned off.

Literally #phase 2 is all about improvise scalability in ethereum 2.0.

Thanks for stopping by!

information source
https://medium.com/kucoinexchange/a-deep-dive-into-eth-2-0-67509814dcc9