The Beacon Chain, first step towards future of Ethereum, has been launched on 1st of December.
The Beacon Chain will introduce proof-of-stake to Ethereum. This is a new way for you to help keep Ethereum secure. However, this is just one part of the Ethereum 2.0 Development and the next steps are introducing shard chains and then docking of Mainnet Ethereum to the new system. The roadmap right now to All the updates looks like this :
- The Beacon Chain – December 1, 2020
The first Eth2 addition to the ecosystem. The Beacon Chain will coordinate the new system, bring staking to Ethereum, and lay the groundwork for future upgrades
- Shard chains – Estimate: 2021
Shard chains will expand Ethereum’s capacity to process transactions and store data. The shards themselves will gain more features over time, rolled out in multiple phases.
- The docking – Estimate: 2022
Mainnet Ethereum will need to “dock” or “merge” with the beacon chain at some point. This will enable staking for the entire network and signal the end of energy-intensive mining.
The end goal of Ethereum 2.0 is to make Ethereum more scalable, secure, and sustainable.
The work that Ethereum team and supporters are doing to make network more secure and better gives us hope that Ether might be the cryptocurrency of the future and the network and technology behind it will evolve so much that it will be able to compete with the likes of Paypal and Visa.
If you would like to read more regarding Ethereum 2.0 you can do it on the official page of Ethereum using the following link.