The Ethereum Foundation made headlines earlier this year when it announced that the Ethereum Blockchain would transition from proof-of-work to proof-of-stake. Months later, the blockchain has completed its London update, and the Ethereum 2.0 upgrade, which will include the new proof-of-stake system, is scheduled to be finished in October. Ethereum and crypto enthusiasts, in general, have been excitedly anticipating this upgrade, and crypto-focused media has been covering all of the events building up to it.
It is expected to happen this year. Personally, I would like it more than anyone else. But it seems a little difficult. Or I'm the problem. I don't fully understand.
But it will be very good if this happens. Fee will fall, energy will decrease, and ethereum will increase. Amazing threesome. I am waiting with excitement.
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Have a nice day.
The Ethereum upgrade really shows the ability and willingness of the network to adapt to the demands of the world. I feel this adaptability really gives promise to the future of the apps built on Ethereum.
Proof of Stake seems to be the best consensus mechanism for a blockchain in terms of power consumption. Hopefully Ethereum will work as expected when the upgrade is fully rolled out. People are tired of the high gas fees.