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How often in a day do you hear such words as: blockchain, cryptocurrency, NFT, mining? Agree: it seems that they are heard from everywhere.
I think many will agree that the Ethereum blockchain has taken a dominant place in the crypto world and has become a pillar for the development of IT projects.
Ethereum 2.0 (or Serenity) is the next update to the main Ethereum blockchain network aimed at improving its speed, efficiency and scalability.
More about Ethereum 2.0 read here https://redot.com/eth2/
In fact, this name is already outdated and wrong, because at the beginning of this year (2022) it was rebranded. Previously, the development team used the terms Ethereum 1.0 (Eth1) for the current iteration of the Proof-of-Work blockchain and Ethereum 2.0 (Eth2) for the upcoming update, which was supposed to come as a replacement.
But when working on the integration of Eth1 and Eth2, some difficulties arose that led to the concept of "Early Merge" (Early Merge), where it is proposed to use Eth1 as part of the future Eth2.
Therefore, in order to assert the idea that these are two parts of one whole, and to avoid misunderstandings among users, we decided to remove these terms from use and replace them with:
• "execution layer" (execution layer) for Ethereum 1.0, where transactions will be performed;
• A "consensus layer" for Ethereum 2.0, where consensus will be resolved by proof of ownership.
How is Ethereum 2.0 different from Ethereum?
While Ethereum 1.0 uses a consensus mechanism known as proof of work (PoW), Ethereum 2.0 uses a proof of stake (PoS) mechanism.
