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26 July 2021

Ethereum Transition to ETH2 Gets a Formal Improvement Proposal - Decrypt

Ethereum Transition to ETH2 Gets a Formal Improvement Proposal - Decrypt


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Ethereum developers have long been planning to transition the blockchain to a more energy-efficient, secure, and scalable network.

ConsenSys researcher Mikhail Kalinin has created a pull request forEIP-3675, which would upgrade the blockchain's consensus mechanism to proof of stake, a system that allows people to validate transactions and create new blocks based on how much ETH they contribute.

The proposal, which sets the stage for "the merge" toEthereum 2.0, will be discussed atFriday's core developers meeting. .

Ethereum's method for achieving a more functional network is to get rid of miners, the people who run software that process every transaction on the blockchain and create new blocks.

Altair, slated for sometime before October, tweaks the Ethereum 2.0 network, which is currently running but not fully functional.

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