Will Asic Mining Died with Ethereum 2.0?The crypto community is celebrating the coming of Ethereum 2.0, but there are also concerns for miners. Since Ethereum has switched to a proof-of-stake model, mining Ether will no longer be necessary. Due to this,...
Ethereum comes, what changes will it bring?
Ethereum is a protocol undergoing significant changes. Client teams are upgrading the protocol to scale to meet global demand while improving security and decentralization. Beyond protocol development, a critical shift in Ethereum has been moving away from ‘Eth1’ and ‘Eth2’ terminology. As of late 2021, core developers stopped using the terminology, preferring ‘execution layer’ and ‘consensus layer,’ respectively.
- Eth1 → execution layer
- Eth2 → consensus layer
- Execution layer + consensus layer = Ethereum
- The terms Eth1 and Eth2 (Ethereum 2.0) are being phased out
- Execution layer (Eth1) and consensus layer (Eth2) are the new terminologies
- The roadmap to scale Ethereum in a decentralized way remains the same
What Changes Will Ethereum 2.0 Bring?The Ethereum network has seen bottlenecks simply because of its sheer activity. For instance, the gas fees paid to miners for their work sometimes reach extraordinarily high levels. It can improve after Ethereum...