The wait is over! Ethereum 2.0 will finally be launched in August 2022. The actual launch should already take place in the second quarter of 2022, but there will be a final test run in June before Ethereum 2.0 is finally allowed to go online.

The update is intended to make the Ethereum Blockchain more efficient and transactions more cost-effective. Furthermore, it aims to improve Ethereum’s long-known vulnerabilities in scalability, cost, and security, making modernization possible in the coming year. The main task of the update is to change the consensus mechanism from proof-of-work to proof-of-stake, which is already used by most modern blockchains. Ethereum 2.0 is intended to keep Ethereum competitive for the future and defend its status as the number 1 blockchain for smart contracts.