Warm and cheerful tidings to all members of the Tron fan club community, hope we are all in good health and soundness of mind.today I will be looking in giving you all a glimpse on what Ethereum 2.0 is all about.

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what is Ethereum 2.0

Ethereum 2.0, also called Eth2 or Serenity sometimes, is an upgrade to the Ethereum blockchain. The main goal is to increase the speed, efficiency, and scalability of the Ethereum network,and during accomplishing this does not compromising its security or decentralization.it is also regarded as a major upgrade in the aspect of the Ethereum Blockchain that is expected to bring to effect a host of improvements to the network,which includes speed, security and scalability.this upgrade has been under development for several years,has become one of the most anticipated event in the world of cryptocurrency.it is significant because it tend to represent a vital fundamental change in the way that the Ethereum network normally operates.instead of making use of the proof of work consensus mechanism, that requires miners to aid in solving complex arithmetic problem to verify transaction,the Ethereum 2.0 will make use of a proof of stake mechanism.

significance of Ethereum 2.0

1) stability:
The issues of stability has been a very notable issue for years for Ethereum,plus the slow transaction speed and high fees.but that will not be the case for Ethereum 2.0, Ethereum 2.0 is expected to dramatically in the speed of the network, making it more suitable for the mainstream use cases.

2) sustainability:
The Ethereum 2.0 will make use of the proof of stake consensus mechanism,which there is a high expectations that it will be more environmentally sustainable than proof of work.

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proof of stake (pos)

This is a consensus mechanism which gives room for participants on the Blockchain network to earn rewards for validating transactions and securing the network.unlike proof of work,which tends to require miners to use specialized hardware to solve complex arithmetic problems,proof of stake only requires its users to stake their tokens by locking them up in a smart contract.

effect of sharding in Ethereum 2.0

Sharding is typically a technique that will be utilized in the prospective Ethereum 2.0 to increase the scalability of the network.while,in the current Ethereum all nodes on the network are expected to process and store the entire transactional history of the Blockchain,which can be very resource intensive.shardin aids in solving this problem by dividing the various network into different or multiple shards each containing its own transaction history.each of the shard is maintained by a singular sperate group of validators,which allows the network to process more transaction in parallel.

effect of beacon chain on Ethereum 2.0

This is a new Blockchain that is being introduced in the eth 2.0.it functions as a central coordinating layer for all of the shards in the network,and it is tasked with management and transition from proof to work to proof to stake.
One of its purpose is to be more secure and efficient than Ethereum 1.0.
Thanks for reading