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#ContentStar Everyone in the cryptocurrency world has repeatedly encountered this topic, either an experienced investor or a newcomer. Many people have tried to figure it out, but not everyone has succeeded. We will explain the merger in a more accessible language.
What’s new about Ethereum 2.0?
Ethereum is a community-controlled technology (platform) that powers the cryptocurrency Ethereum (ETH) and serves to create and manage decentralized apps (about 80% of the world’s apps), asset storage, and transactions. It is the first programmable blockchain with the support of smart contracts.
Since its launch (July 2015), Ethereum has gained impressive capital and great popularity. This has led to several problems: network congestion, reduced transaction speeds, and high carbon emissions.
Ethereum 2.0 is an update designed to solve these problems, particularly security issues. Like all other cryptocurrencies, the platform currently uses the Proof-of-Work (PoW) consensus algorithm. After the merger, the Proof-of-Share (PoS) algorithm will be used.