What is Ethereum 2.0 (also known as Serenity or ETH 2.0)?

The cryptocurrency Ethereum is currently being extensively updated to make it more scalable, secure and sustainable.

Recent concerns about network congestion, high prices and energy efficiency have led Ethereum’s many technical teams to issue upgrades that warrant a new, standalone version of the cryptocurrency.

Stacy Elliott, Senior Reporter for TheStreet’s Crypto Investor, explains the key change to Ethereum’s protocol, from Proof-of-Work to Proof-of-Stake.

The upgrade will transform the way Ethereum is mined, making it much more efficient in terms of energy use, and enabling faster and cheaper transactions by eliminating the duplication of work inherent in the “proof of work” model.

Ethereum uses the so-called The Beacon Chain to introduce a proof-of-stake into the Ethereum ecosystem. Check out the video above to learn more.

VanEck, TheStreet’s content partner, recently debated the “bull and bear case for Ethereum”. Mathew Sigel, VanEcks Head of Digital Assets Research, moderated Ethereum: Bull and Bear Case and also participated in the webinar of TheStreet: The Evolution of Blockchain.

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