What is Ethereum 2.0? (in 60 seconds)
Ethereum 2.0 refers to the major new updates coming to the Ethereum blockchain. The biggest change is the move from proof-of-work (mining) to proof-of-stake (staking) consensus mechanism. In short, the platform will remove the need for miners, and use staking to validate new blocks. The purpose for this transition is to improve the scalability and speed of the network. Sharding, another Eth 2.0 addition will process 64 independent proof of stake blockchains simultaneously. The beacon chain will coordinate all the sharded blockchains, in an effort to improve speed and scalability of the entire network.
Any users staking their Ethereum on the network can expect a return from 4%- 10% through staking pools. To run your own validator the network requires a minimum of 32 Eth.
June 12th, 2018
Sources:
