Ethereum 2.0, also known as Serenity, has become one of the most anticipated network upgrades after Ethereum the first release date moved from December 2020 to 2021.
With Ethereum (ETH) Network upgrade and hard fork are planned on ETH mainnet at block height of 13,773,000, Probably on December 9, 2021, 8:00 p.m. (UTC), Ethereum co-founder Vitalik Buterin published “Endgame”, a roadmap for the network.
The “end game” of Ethereum is here
the Upcoming network upgrade will see ether Transition of the network from its current Proof-of-Work (PoW) algorithms – which are also used by Bitcoin – to a Proof-of-Stake (PoS) consensus algorithm.
The roadmap planned by Buterin includes a “second staking level with low resource requirements” for the implementation of distributed block validation.
The upcoming network upgrade will also “introduce anti-cheat or ZK-SNARKS so users can check block validity directly”. Not only is this feature cheaper, it adds an extra layer of security to the Ethereum network.
Buterin also outlines the introduction of “data availability sampling so that users can check block availability”. [and] add additional transaction channels to prevent censorship ”.
- With major improvements made, users have raised concerns about Endgame’s potential to more centralize the Ethereum network.
These features will lead to a more scalable Ethereum blockchain. Buterin believes that with enough hardware, Ethereum can reach 10,000 transactions per second with this upgrade.
If implemented, Buterin’s solutions also promise very high block frequencies and large block sizes for the Ethereum network.
Why should you care?
Most network charges depends on the state of the blockchain itself. Improving Ethereum’s network conditions could be the endgame solution to the high transaction fees that have long plagued Ethereum.