1 min read - Posted 03 Jun 20

Ethereum 2.0 is near

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Ethereum 2.0 or ETH2 is the planned update for Ethereum by its creator Vitalik Buterin.

In phase zero or Beacon Phase the main blockchain will be decomposed into smaller ones and where node verifiers will work, this will make the network much more scalable.

At the same time, it allows developers to have more applications for their use and development.

In addition to having the transaction validation change, going from the famous Proof of Work with which Bitcoin and Ethereum works to Proof of Stake.

For those who do not know, many of the largest blockhains are moving to this second option since it allows greater decentralization since the verifications are “undermined” by the number of coins that a user has and not by their computing power that is monopolized for the "mining farms".

Thus, the Ethereum network will pay its users to keep their coins and serve as verifiers.

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