What Is Ethereum 2.0?
Ethereum 2.0, also known as ETH2, is a major upgrade of the Ethereum network. It is designed to increase security, speed, efficiency, and growth of the Ethereum network.
In early 2021, Ethereum 2.0 will exist alongside Ethereum 1.0. However, the original blockchain will merge with ETH2 in the future. If you are an ETH holder, you don’t need to do anything. Your ETH 1.0 holdings will automatically migrate to ETH2. The transition to ETH2 started in December 2020 and is expected to last two years.
However, apps that run on Ethereum blockchain are only as secure as the developers who made them. Code can sometimes have bugs that could lead to funds being lost. Although their source code can be seen by all, each app’s user base is smaller than Ethereum’s overall, so less eyes are focused on them. Research is important for any decentralized app that you intend to use.
Current updates to the Ethereum protocol are being made in order to make it more secure and faster. For more information, see the Ethereum 2.0 section.