Highlights:

Vitalik Buterin recently announced his plans to rollout the highly awaited ETH 2.0

The new update will take over ETH 1.0 and include some of the highly anticipated functionality

Vitalik Buterin, founder and Chief Scientist of the Ethereum Foundation took to Ethresear.ch, a blog for the on-going research effort in Ethereum, to communicate the organizations plan in bridging Eth 1.0 and Eth 2.0

“It’s theoretically possible for two competing eth2 chains to finalize the same eth1 block (this would imply eth2 has broken, but it is still theoretically possible). More commonly, there could be two eth2 finalized blocks where one is a child of the other, both of which support the same eth1 block, and some miners could be aware of the more recent of the two eth2 blocks and the others not aware.”

Vitalik Buterin

The most was aimed at all the developers and users of the platform to communicate how Eth 1.0 to 2.0’s transition. It is said that the experience of the 2.0 update will be immensely different from the current one. But to the good news of the current, 2.0 will take over the 1.0 system rather than replace it, allowing all previous application, protocols and code to remain intact.

The new update will bring in better voting, increase in gas cost, and a possible transition to the Proof-of-Stake consensus mechanism from the already existing Proof-of-Work.