✨All about #Ethereum 2.0 (2/2)
🔅What are the key differences between #ETH & #ETH2 ?
Ethereum 2.0 also referred to as "#ETH2" or "#Serenity" will be completed over 3 phases, as follows:
👉🏻 Phase 0: "The Evolutionary Phase"
These changes, which launched in December 2020, introduced users to the "Beacon Chain". This is a new type of blockchain which oversees the entire #ETH ecosystem, moving from a #PoW to #PoS consensus model. It doesn't actually change anything about the #ETH we use today but will be a more secure, energy efficient alternative to the existing #PoW model.
👉🏻 Phase 1: "Sharding"
This next part of the upgrade will see the spread of data from a single large database across several separate database servers. This will ease bottlenecks, increase network bandwidth and allow more transactions to be processed.
👉🏻 Phase 1.5: "Docking"
This final phase of the upgrade, expected in 2022, is when the existing #ETH Mainnet "Docks" or merges with the new $ETH2 Beacon Chain & Sharding system.
🔅What are the key differences between #ETH & #ETH2 ?
Ethereum 2.0 also referred to as "#ETH2" or "#Serenity" will be completed over 3 phases, as follows:
👉🏻 Phase 0: "The Evolutionary Phase"
These changes, which launched in December 2020, introduced users to the "Beacon Chain". This is a new type of blockchain which oversees the entire #ETH ecosystem, moving from a #PoW to #PoS consensus model. It doesn't actually change anything about the #ETH we use today but will be a more secure, energy efficient alternative to the existing #PoW model.
👉🏻 Phase 1: "Sharding"
This next part of the upgrade will see the spread of data from a single large database across several separate database servers. This will ease bottlenecks, increase network bandwidth and allow more transactions to be processed.
👉🏻 Phase 1.5: "Docking"
This final phase of the upgrade, expected in 2022, is when the existing #ETH Mainnet "Docks" or merges with the new $ETH2 Beacon Chain & Sharding system.