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What is Ethereum 2.0?
The Ethereum ecosystem has selected a long-term roadmap known as Ethereum 2.0, also known as the Ethereum upgrades. Three fundamental steps make up Ethereum 2.0, and two of them are already finished:
- Step 1: Ethereum Beacon Chain
The transition of Ethereum from a proof-of-work to a proof-of-stake mechanism began with the Beacon Chain. Before PoS was introduced to the ecosystem, a test was conducted to make sure it was a viable future strategy for Ethereum's blockchain.
- Step 2: Ethereum Merge
The Beacon Chain was launched after the Ethereum Merge. PoS and PoW coexisted before the Merge, but it served the aim of doing away with PoW.
- Step 3: Sharding Ethereum
The final improvement on the Ethereum roadmap is sharding. However, it is not projected to be completed until 2023. Ethereum Sharding places a greater emphasis on scalability and promoting network involvement than the earlier stages, which were more concerned with security and sustainability.