Ethereum 2.0, also known as Eth2 or “Serenity”, is an upgrade to the Ethereum blockchain. The upgrade aims to enhance the speed, efficiency, and scalability of the Ethereum network so that it can process more transactions and ease bottlenecks. Ethereum 2.0 is launching in several phases, with the first upgrade launched in Dec 1, 2020. Here's everything you need to know.

1. The ETH 2.0
Upgrade
ETH 2.0 upgrade aims to solve problems
with the network’s scalability and security.
ETH 2.0 | CANETH POOL
01.

2. In Brief
Ethereum, the second-largest cryptocurrency by
market cap, has released a major update to its
network.
The Ethereum 2.0 upgrade aims to address the
network's scalability and security
The first phase of the upgrade, will see Ethereum
switch to a proof of stake consensus mechanism.
02. ETH 2.0 | CANETH POOL

3. 03. ETH 2.0 | CANETH POOL
What is Ethereum 2.0?
Ethereum 2.0, also known as Eth2 or “Serenity”, is an upgrade to the Ethereum
blockchain. The upgrade aims to enhance the speed, efficiency, and scalability of
the Ethereum network so that it can process more transactions and ease
bottlenecks. Ethereum 2.0 is launching in several phases, with the first upgrade
launched in Dec 1, 2020.

4. How does Ethereum
2.0 differ from
Ethereum?
The Difference
While Ethereum 1.0 uses a
consensus mechanism known as
proof of work (PoW), Ethereum 2.0
will use a proof of stake (PoS)
mechanism.
04. ETH 2.0 | CANETH POOL

5. Ethereum currently works on a proof of work
(PoW) model.
In this system, ETH miners use computer
hardware processing power to solve complex
math puzzles and verify new transactions.
The first miner to solve a puzzle adds a new
transaction to the record of all transactions
that make up the blockchain. They are then
rewarded with crypto. However, this process
can be energy-intensive.
How does proof of
stake differ from
proof of work?
Proof of Stake Vs. Proof of Work
05. ETH 2.0 | CANETH POOL

6. Proof of stake (PoS) differs in that instead of
miners, transaction validators stake crypto
for the right to verify a transaction. These
validators are selected to propose a block
based on how much crypto they hold, and
how long they’ve held it for. Other validators
can then attest that they have seen a block.
When there are enough attestations, a block
can be added to the blockchain. Validators
then are rewarded for the successful block
proposition. This process is known as
“forging” or “minting”.
How does proof of
stake differ from
proof of work?
(contd.)
Proof of Stake Vs. Proof of Work
06. ETH 2.0 | CANETH POOL

7. The Main
Advantage
The main advantage of PoS is that it is far
more energy-efficient than PoW, as it
decouples energy-intensive computer
processing from the consensus algorithm. It
also means that you don’t need a lot of
computing power to secure the blockchain.
ETH 2.0 | CANETH POOL07.

8. How will Ethereum
2.0 scale better than
Ethereum 1.0?
One of the main reasons for the upgrade to Ethereum
2.0 is scalability. With Ethereum 1.0, the network can
only support around 30 transactions per second; this
causes delays and congestion. Ethereum 2.0 promises
up to 100,000 transactions per second. This increase
will be achieved through shard chains.
08. ACCESSPORTAL | NCLEX-RN REVIEW
ETH 2.0 | CANETH POOL

9. The current Ethereum set-up has a
blockchain consisting of a single chain with
consecutive blocks. This is secure, but very
slow and not efficient. With the introduction
of shard chains, this blockchain is split up,
enabling transactions to be handled in
parallel chains instead of consecutive ones.
This speeds up the network, and can scale
more easily.
Did you know?
Trivia
09. ETH 2.0 | CANETH POOL

10. How could Ethereum 2.0 affect Ethereum’s price?
ETH 2.0 | CANETH POOL10.

11. More scalability means more usage,
which, in turn, means more demand.
Which — at least in theory — should
propel the price of Ethereum to new
heights.
ETH 2.0 | CANETH POOL11.

12. Once Ethereum has scalability, all questions
are answered. More scalability means more
usage, which, in turn, means more demand.
By the time ETH 2.0 and rollups work together
there will be 100,000 transactions per second
capacity. That’ll mean a completely seamless
experience for the next billion people.
ETH 2.0 | CANETH POOL12.

13. Gas fees may also decrease with the launch
of Ethereum 2.0. Moreover, the ecosystem
taking notice of major milestones will
reinforce Ethereum developer momentum.
This will have a long-term bullish impact on
the price of ETH.
ETH 2.0 | CANETH POOL13.

14. 14. ETH 2.0 | CANETH POOL
Conclusion
As of now, the future of ETH looks bright. And at CanETH, we recognize it well. Our vision is
a solution to ease the transition into ETH2.0 Proof of Stake (PoS) by using a decentralized
pool network. We will come up with more information soon explaining how you can use
our managed staking service to stake into the ETH 2.0 pool. Stay tuned!

15. #WeCanETHTogether
www.caneth.org