Ethereum 2.0 | ETH 2.0 Proof of Stake (POS) Image

What is Ethereum 2.0?


If the creation of Ethereum ushered in a new era of experimentation in financial applications, Ethereum 2.0 seeks to continue this progress by altering the network’s design. This includes migrating to a new consensus mechanism that will govern how transactions are approved by the network and its cryptocurrency is distributed. 


But before we dive into its new iteration, it is important to understand how Ethereum, one of the most ambitious cryptocurrency projects to date, operates. 


Ethereum was built to be a kind of operating system for hosting any number of custom assets and programs, called decentralized applications (dapps).


To create dapps, developers write programs, called smart contracts, and deploy this code to the Ethereum blockchain. These dapps are essentially large constructions of smart contracts that can be set in motion if and when specific outcomes are met.


Today, Ethereum uses proof-of-work mining (in which computers burn energy to solve puzzles needed to create blocks) to power its blockchain. Miners batch transactions into new blocks roughly every 12 seconds.


Using this design, the Ethereum blockchain currently processes 12 transactions per second over its distributed network, a figure that may prove higher once Ethereum 2.0 is enacted. 

Ethereum graphic Image

How does Ethereum 2.0 Work?

以太坊2.0 将为以太坊区块链帶来三大升级。 

以太坊权益证明 (PoS)

在以太坊PoS的模式下, 被称为验证者节点的用户可以将ETH加密货币销定在智能合约中,然后可通过解决向区块链添加新区块所需的计算而获得奖励。 

值得注意的是,Kraken用户可以在其平台上质押低于32个ETH ,并为其网络做出贡献,从而获得部分质押奖励。关于以太坊质押的更多信息,请访问我们的加密货币质押页面。 







ETH 2.0信标链

信标链是以太坊 2.0的基础链并扮演着核心管理的角色,信标链负责协调网络中的验证者节点从而保持分片的安全性和同步性。  




Vitalik Buterin Image

Who created Ethereum?

Ethereum was the brainchild of then 20-year-old Russian-Canadian Vitalik Buterin.

Ethereum Roadmap to 2.0

Developers are currently working on new Ethereum 2.0 features, to be rolled out during phases.


Phase 0

This phase saw the launch of the beacon chain, enabling ETH holders to become validator nodes and stake their ETH to earn additional income. 

For the beacon chain to launch, 16,384 validators needed to stake a minimum of 32 ETH on the beacon chain, a milestone that occurred on November 24, 2020. The code was then deployed on December 1, 2020. 

The beacon chain has limited functionality during phase 0 since there is no transaction or smart contract support.

Phase 1

This phase would split the Ethereum blockchain into 64 shard chains (a number likely to increase once the full version of Ethereum 2.0 is released).

Further, phase 1 will extend the beacon chain’s PoS consensus across all shards, allowing validators to create blocks on their specific chain.

While shard chains will still not be able to process transactions or smart contract support, they will be able to store Ethereum data.

Phase 1.5

In Phase 1.5, Ethereum will be merged into a single, unified network.

This phase will see the addition of the current Ethereum chain, which contains the full Ethereum history, as one of the shards in the new ethereum 2.0 system and fully transition Ethereum from proof-of-work to proof-of-stake.

Phase 2
This is the final phase of Ethereum’s roadmap to 2.0, where the upgrade will become the official Ethereum network. 

Phase 2 involves adding functionality to shard chains, enabling them to process transactions and execute smart contracts so that dapp developers can deploy their applications on shards.



Other Ethereum 2.0 Resources

If you are interested in learning more about Ethereum, please visit Kraken’s “What is Ethereum?” pages.

If you want to learn more about the consensus mechanisms that power Ethereum and Ethereum 2.0, then the “Proof of Work vs. Proof of Stake” page is where you want to go! 

Want more in depth information on other cryptocurrencies and blockchain projects? If so, visit our Learn Center to further your education on this ever-growing space.


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