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The Problems That Ethereum 2.0 Proof-of-Stake Aims to Solve

What does it mean for the network, building on it, and crypto mining?

Lewis Fairweather
Better Programming
11 min readOct 26, 2020

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hills highlighted by the sun rising behind them
Photo by Wes Hicks on Unsplash

The Bitcoin and Monero (XMR) communities remain some of the most committed to the concept of proof-of-work.

Ethereum’s Long-Awaited Upgrade

It feels like it has been coming for ages. That’s because it has. It has been in the works for years and discussed since 2018. Ethereum 1.0 had concerns over scalability and security. These are set to be improved with the planned upgrades to the system.

This massive upgrade involves re-engineering the entire Ethereum platform, which will result in the launch of this new, more scalable version. This implementation of the Ethereum network was due to start in the summer of 2020 and it is currently in progress.

All phases need to be complete, which will likely see the upgrade run for another couple of years.

  • Phase 0 — The Beacon Chain — Expected: 2020

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