Good news for Ethereum – it will soon get an upgrade to version 2.0. we come with all the details you need.
Ethereum 2.0 is also known as Serenity, and it will soon transition away from the PoW algorithms. The upgrade will come with a lot of changes, and it will make the currency secure and sustainable.
So when is the release date?
The initial release date was back in 2019, but the first phase actually launched on the 1st of December, 2020. There are still two more phases to launch, and we think that the full release will happen somewhere at the end of 2022.
Developers Tim Beiko and James Hancock have proposed a delay until June 2022. The details about the full launch might still change, but it could happen earlier than expected.
The release will happen in separate sections: The Beacon Change, The merge, and Shard chains.
- Phase 0, The Beacon Change, first launched in December 2020. PoS is less strong than PoW, and it is mainly used in Cardano staking. Ethereum Staking is still under testing.
- The next phase is the merge – the Beacon Chain into the mainnet, which means the end of the PoW algorithms.
- The final phase should be about the implementation of Shard chains, which will happen in 2022. Transactions should be split into 64 new chains.
Is this a new coin?
No, Ethereum 2.0 is not a new coin, and it will not change the value of it. It is simply an upgrade that will improve the Ethereum blockchain. It might have an impact on Ethereum miners, and not on holders. This shift to PoS will bring the staking to take over the mining one when it comes to approving transactions.
