common-close-0
BYDFi
Trade wherever you are!
Markets
Buy Cryptocommon-tiny-triangle-down
Tradecommon-tiny-triangle-down
Derivativeshotcommon-tiny-triangle-down
Trading Bots
Partnershipcommon-tiny-triangle-down
Reward Centercommon-new-0
Halloween Carnival Night
header-more-option
header-global
header-download
header-skin-grey-0

What is the difference between ETH and ETH2?

avatarShilpi SharmaNov 30, 2021 · 3 years ago1 answers

Can you explain the key differences between ETH and ETH2 in the world of cryptocurrencies? How do they differ in terms of technology, scalability, and potential impact on the market?

What is the difference between ETH and ETH2?
Cryptocurrency
ETH
ETH2

1 answers

  • avatarNov 30, 2021 · 3 years ago
    ETH and ETH2 represent different stages in the evolution of the Ethereum blockchain. ETH is the current version, while ETH2 is the upcoming upgrade. The main difference between the two lies in their consensus mechanisms. ETH uses proof-of-work, which requires miners to compete to solve mathematical puzzles and validate transactions. This process can be slow and energy-consuming. On the other hand, ETH2 will implement proof-of-stake, where validators are chosen to create new blocks based on the amount of ETH they hold. This change will make the network more energy-efficient and scalable. Additionally, ETH2 will introduce shard chains, which will allow for parallel processing of transactions and further improve scalability. Overall, ETH2 aims to address the limitations of ETH and create a more sustainable and scalable blockchain ecosystem.

Related questions

common-arrow-bottom-0Load 5 more related questions
common-search-0

Related Tags

Hot Questions