Ethereum 2.0 Analysis

[rick666]

The goal of Ethereum 2.0, also known as Serenity or ETH2.0, is to address the present Ethereum network's scalability and security issues. End of April 2020 saw the introduction of the ETH2.0 testnet, while December 2020 saw the official launch of the ETH2.0 mainnet. Since then, Ethereum 2.0 has been formally launched.

Ethereum 2.0 is divided into the following three phases:

Stage Name Time Problem Solved
First Stage Beacon Chain December 1, 2020 Online A blockchain independent of the Ethereum mainnet
Second Stage The Merge Expected in the first or second quarter of 2022 Merge the beacon chain with the Ethereum mainnet
Third Stage Shard Chain Expected in 2022, undetermined specific date Play a key role in scaling the Ethereum network

Beacon Chain: Beacon Chain was developed to provide consensus for all shard chains and to synchronize all shard chains. This essential element was added by Serenity to guarantee data sharing between shard chains.

Shard Chain: In Ethereum, a node is required for everyone who wishes to assess the Ethereum network. A node is a replica of the complete network that serves a specific purpose. Shard chains limit the amount of data that nodes must manage, resulting in greater performance. Shard chains only include a portion of the blockchain.