Ethereum has enjoyed a decent reputation in the last couple of years. However, since the network is quite overwhelmed with users and transactions, its network’s scalability and efficiency are severely affected. Therefore, the development team has planned to roll out its next iteration, called Ethereum 2.0, which aims to solve an array of native problems.Just to set the perspective here, Ethereum 2.0 will be released in 2020. However, the exact date remains undecided for now. But it is worth mentioning that the core aim of this release would is to get the network out of the issues concerning scalability, security, and efficiency while ensuring the overall decentralization.The following are the major upgrades to expect in the latest version of Ethereum:
- Beacon Chain: it happens to run on the PoS algorithm and thus, acts as an economical alternative to PoW. However, the team does not plan to replace PoW with PoS instantly. In fact, in the beginning, both of these protocols will run in parallel.
- Sharding: Until now, people had to use 3rd parties for sharding on Ethereum. However, this will be introduced as a native feature in Ethereum 2.0, allowing scalability of transactions and facilitating the network to execute more transactions in a given time.
- eWASM: This is the latest EVM where sharding and beacon chain will be hosted. Basically, all of the current and forthcoming upgrades will be integrated and run on this machine.
