When ETH 2.0 arrives, what happens to ETH?

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23 May 2022
26

Eth 2.0's initial structure will have 64 shards. 

In the process known as 'The Merge,' the Ethereum 1.0 chain will become one of the 64 shards that make up the new blockchain version.

The whole history of the data will be kept. No need to move your ETH coins from the 1.0 to the 2.0 chain will be required for ETH holders.

What follows? Once ETH 2.0 is ready, when will it be implemented?

Following The Merge in 2023, 'Shard chains' will be the last step of ETH 2.0. Ethereum's scalability and capacity can be improved via a multi-phase process known as sharding.

Miners will be disappointed by one aspect of the new upgrade. 

With ETH's current hash rate of 1 PH/s, one should expect the difficulty of lucrative mining currencies to climb significantly.

A wide variety of crypto tokens can be mined following Ethereum 2.0. 

Therefore it's up to the miners to select what to mine.

Every component of the network will benefit from ETH 2.0's debut.

Sharding will make NFT trading and minting on one of the most popular blockchains more affordable.

eWASM implementation will simplify Ethereum developers to design DApps and compile smart contracts.

As a final step, Ethereum's move to proof-of-stake will open up the network to wider users.

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