Ethereum foundation launches THE ETH 2.0

In light of the teeming issues of inflated gas fees, accessibility and the likes in the Cryptocurrency world, the Ethereum foundation launched the second version of the Ethereum merge—2.0, this September.

The upgrade is engendered on promoting safe and secure transactions between Crypto traders, which has constrained the effectiveness and smooth-run of Crypto-trading.

The Ethereum merge as remedy to the hitches faced by Cryptotraders eliminates the need for energy-intensive mining and secures the network using staked ETH.

An interesting fact about the merge is that the network upgrade that will change Ethereum’s current consensus mechanism from “proof of work” to “proof of stake.” Thereby, realizing the Ethereum vision; more scalability, security, and sustainability.

With the consensus mechanism taking a new shape— the “proof of stake” or “PoS”, will set the stage for future scaling upgrades including sharding and will reduce Ethereum’s energy consumption by 99.95%,  expanding Ethereum’s capabilities, and making it easier to compete with newer blockchains.

Moreso, the Merge poses as one reliant, safe and sustainable initiative and is a milestone in Cryptocurrency. Remarkably, the Merge confers more power to the users. Hence it fosters a decentralised system.

Commenting on the merge, the Managing director of Bitget, Gracy Chen said; “This is the most critical event in the crypto industry, and the impact of it is sustainable. We welcome all kinds of liquidity pledged projects to list on Bitget.”