MathWallet is the Multichain Wallet for Web3 that enables token storage of 100+ chains including BTC, ETH, Polkadot, Filecoin, Solana, BSC, Cosmos etc, supports cross-chain token bridges and multi-chain dApp store. Our investors includes Fenbushi Capital, Alameda Research, Binance Labs, FundamentalLabs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.
What is Ethereum 2.0 ？
At the core of Ethereum 2.0 is a system chain called the "beacon chain". The beacon chain stores and manages the registry of validators. In the initial deployment phases of Ethereum 2.0, the only mechanism to become a validator is to make a one-way ETH transaction to a deposit contract on Ethereum 1.0. Activation as a validator happens when Ethereum 1.0 deposit receipts are processed by the beacon chain, the activation balance is reached, and a queuing process is completed. Exit is either voluntary or done forcibly as a penalty for misbehavior. The primary source of load on the beacon chain is "attestations". Attestations are simultaneously availability votes for a shard block (Phase 1) and proof-of-stake votes for a beacon block (Phase 0).
How does Ethereum 2.0 differ from Ethereum?
While Ethereum 1.0 uses a consensus mechanism known as proof of work (PoW), Ethereum 2.0 will use a proof of stake (PoS) mechanism.
How will Ethereum 2.0 scale better than Ethereum 1.0?
One of the main reasons for the upgrade to Ethereum 2.0 is scalability. With Ethereum 1.0, the network can only support around 30 transactions per second; this causes delays and congestion. Ethereum 2.0 promises up to 100,000 transactions per second. This increase will be achieved through the implementation of shard chains.
The current Ethereum set-up has a blockchain consisting of a single chain with consecutive blocks. This is secure, but very slow and not efficient. With the introduction of shard chains, this blockchain is split up, enabling transactions to be handled in parallel chains instead of consecutive ones. This speeds up the network, and can scale more easily.https://ethereum.org/en/eth2/