Term of the Moment


Look Up Another Term

Redirected from: Ethereum 2

Definition: Ethereum 2.0

A major upgrade to the Ethereum blockchain that started in late 2020. Ethereum 2.0 (Eth2) is designed to be more scalable (more transactions per second), more secure and more environment friendly. Eth2 uses the proof of stake (PoS) method of mining instead of proof of work (PoW), which has been used by Ethereum and Bitcoin since their inception. Proof of work uses a tremendous amount of electricity. See Ethereum and proof of work algorithm.