{"id":3285,"date":"2021-01-06T14:39:22","date_gmt":"2021-01-06T13:39:22","guid":{"rendered":"https:\/\/satt-token.com\/blog\/?p=3285"},"modified":"2022-02-25T14:59:20","modified_gmt":"2022-02-25T13:59:20","slug":"satt-x-ethereum-2-0","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/3285","title":{"rendered":"SaTT X Ethereum 2.0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_32 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table des mati\u00e8res<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table des mati\u00e8res\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/satt-token.com\/blog\/archives\/3285\/#What_is_Ethereum_20_and_why_do_we_need_this_upgrade\" title=\"What is Ethereum 2.0 and why do we need this upgrade?\">What is Ethereum 2.0 and why do we need this upgrade?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/satt-token.com\/blog\/archives\/3285\/#What_is_Ethereum_20\" title=\"What is Ethereum 2.0?\">What is Ethereum 2.0?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/satt-token.com\/blog\/archives\/3285\/#Why_Switch_to_PoS_from_PoW\" title=\"Why Switch to PoS from PoW?\">Why Switch to PoS from PoW?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/satt-token.com\/blog\/archives\/3285\/#The_Four_Phases_of_Ethereum_20_Rollout\" title=\"The Four Phases of Ethereum 2.0 Rollout\">The Four Phases of Ethereum 2.0 Rollout<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/satt-token.com\/blog\/archives\/3285\/#ETH_Staking\" title=\"ETH Staking\">ETH Staking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/satt-token.com\/blog\/archives\/3285\/#Final_Thoughts\" title=\"Final Thoughts\">Final Thoughts<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"What_is_Ethereum_20_and_why_do_we_need_this_upgrade\"><\/span><strong><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">What is Ethereum 2.0 and why do we need this upgrade?<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Ethereum launched in 2015 with the objective of broadening the potential use cases of blockchain technology. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">It supported smart contracts and almost doubled the transaction speed of cryptocurrencies as compared to the Bitcoin network.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Similar to Bitcoin, Ethereum also employed the proof-of-work (PoW) consensus protocol at launch. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">But the founders of Ethereum were well aware of its shortcomings and planned to switch to the proof-of-stake (PoS) protocol at a later stage. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">This transition of the Ethereum network from PoW to PoS protocol and Ethereum 1.0 to Ethereum 2.0 has long been anticipated.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">In this article, we explain the concept of Ethereum 2.0.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Ethereum_20\"><\/span><b><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">What is Ethereum 2.0?<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The primary difference between Ethereum 1.0 and Ethereum 2.0 is the underlying consensus protocol. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Until recently, the Ethereum network only used the PoW consensus protocol. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">While this was the most viable option initially, the use of PoW brought issues such as lack of scalability, high energy consumption, and high network fees.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The rollout of Ethereum 2.0, which is a four-phase process, began in December 2020. Currently, Ethereum 2.0 or ETH 2 functions alongside Ethereum 1.0. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">It uses the proof-of-stake consensus protocol instead of the proof-of-work protocol used by Ethereum 1.0.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Ethereum 2.0 will be exactly the same as Ethereum 1.0 from a utility perspective. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">It will allow developers to use smart contracts and create dApps. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">However, using the PoS protocol will make the network thousands of times faster and more secure.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_Switch_to_PoS_from_PoW\"><\/span><b><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Why Switch to PoS from PoW?<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The lack of scalability has been the biggest concern of the Ethereum network. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">While traditional payment providers such as Visa can process 24,000 transactions per second, Ethereum could only handle around 15 per second. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">In December 2017, due to <\/span><\/span><\/span><\/span><\/span><a href=\"https:\/\/qz.com\/1145833\/cryptokitties-is-causing-ethereum-network-congestion\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">high traffic on the popular Ethereum-based game, Crypto Kitties<\/span><\/span><\/span><\/span><\/span><\/a><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"> , the Ethereum network&#8217;s inability to handle high-traffic games was infamously put on public display. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Again in 2020, the <\/span><\/span><\/span><\/span><\/span><a href=\"https:\/\/insights.glassnode.com\/defi-spike-ethereum-gas-price\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">DeFi craze with the corresponding soaring gas fees<\/span><\/span><\/span><\/span><\/span><\/a><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"> also demonstrated the network&#8217;s inefficiencies.\u00a0<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Besides, the use of PoW makes the Ethereum network extremely energy-intensive. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">This is because the network currently relies on cryptocurrency miners who use high computing power devices to verify new blocks on the blockchain. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">These devices consume tons of electricity and take the network&#8217;s annual electricity consumption to more than 14.96 TWh. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">This is approximately the same amount of electricity consumed by the Central European nation, Slovenia.<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">As already outlined, the use of PoS protocol in Ethereum 2.0 will increase the network&#8217;s scalability. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Ethereum founder, Vitalik Buterin, claims that Ethereum 2.0 will be able to handle a demand of almost 100,000 transactions per second. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">In addition, Ethereum 2.0 will also significantly reduce the energy consumption of the network and increase its security.<\/span><\/span><\/span><\/span><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Four_Phases_of_Ethereum_20_Rollout\"><\/span><b><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The Four Phases of Ethereum 2.0 Rollout<\/span><\/span><\/span><\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Rather than doing a sudden switch, the Ethereum network will transition from Ethereum 1.0 to 2.0 over the course of more than one year.\u00a0<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The first phase, Phase 0, began in 2020 with the launch of the beacon chain in December. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">It is a new chain that will keep the records of Ethereum 1.0 and Ethereum 2.0 in sync with each other. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The second phase, Phase 1, is set to take place in 2021 where new shard chains will be added to the network. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">These chains will be a part of the Ethereum network but will individually handle small portions of the total transactions requested on Ethereum. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">This will enable the network to collectively process high volumes of transactions. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The beacon chain launched in Phase 0 will also be responsible for keeping the records across all shard chains in sync with the Ethereum chain.<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The third phase, Phase 1.5, will convert the older version of the Ethereum network into a shard chain that will use proof-of-stake protocol. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The final phase, Phase 2, will render full functionality to the shard chains along with smart contracts support.<\/span><\/span><\/span><\/span><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"ETH_Staking\"><\/span><b><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">ETH Staking<\/span><\/span><\/span><\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">So far, miners needed to solve cryptographic puzzles to verify transactions on the Ethereum network and add new blocks. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">With the advent of Ethereum 2.0, the network will require network participants to stake a minimum of 32 ETH to become a validator. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">After users stake the required amount, the network will allow them to verify new transactions on the blockchain and earn ETH rewards. <\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Users who cannot stake 32 ETH individually can still participate in block verification by joining ETH staking pools.<\/span><\/span><\/span><\/span><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Final_Thoughts\"><\/span><b><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Final Thoughts<\/span><\/span><\/span><\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">It is quite obvious that Ethereum 2.0 will be a terrific upgrade to the current Ethereum network. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">It will make the network more sustainable by reducing its electricity consumption while also preparing it for mainstream adoption of cryptocurrencies and blockchain technology. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Due to the wide range of benefits it has to offer, Ethereum will soon be even more widely implemented across industries throughout the world.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">As all SaTT users should know, Ethereum is our choice of protocol and we are very excited with the improvements in Ethereum 2.0. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">This is the first in a series of articles about Ethereum 2.0, with more coming where we will outline how these improvements impact SaTT.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Stay tuned!<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Ethereum 2.0 and why do we need this upgrade? Ethereum launched in 2015 with the objective of broadening the potential use cases of blockchain technology. It supported smart contracts and almost doubled the transaction speed of cryptocurrencies as [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":3286,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[47],"tags":[103,107,115,117,158,172],"class_list":["post-3285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-stories","tag-crypto","tag-cryptocurrency","tag-eth-2-0","tag-ethereum-2-0","tag-satt","tag-scalability"],"_links":{"self":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/comments?post=3285"}],"version-history":[{"count":1,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3285\/revisions"}],"predecessor-version":[{"id":11005,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3285\/revisions\/11005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/3286"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=3285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=3285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=3285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}