What is Ethereum 2?

Ethereum 2.0, or ETH2, is an informal name—the Ethereum Foundation prefers to refer to Ethereum 2.0 as the consensus layer and ETH 1.0 as the execution layer. 1 Ethereum 2.0 has been taking shape over several years and is not a one-off event.

Will Ethereum merge in August?

“If there are no problems, then the merge will happen in August,” said Buterin. What Is Ethereum 2.0? Ethereum 2.0 is a new version of the Ethereum blockchain that will use a proof of stake consensus mechanism to verify transactions via staking, rather than proof of work.

When is the Ethereum 2.0 mainnet coming out?

Currently, the ETH 2.0 mainnet is expected to launch in November 2020. What’s important to remember is that Ethereum 2.0 clients will not be developed by a single party – instead, it’ll have a robust developer ecosystem and 5 different client releases.

What is the Ethereum Serenity (ETH) update?

ETH2.0 will fundamentally change the current economics. In fact, the Ethereum update will completely erase the concept of mining. So my Ethereum miner will be retired once the Ethereum 2.0 update is fully completed. Here is the detailed roadmap for Ethereum 2.0’s (Ethereum Serenity) release.