landminrete1976

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Connect and share knowledge within a single location that is structured and easy to search. 1 ETH = 3,676.04 USD May 21, 2024 07:34 AM UTC In January 2022, the Ethereum Foundation announced the decision to remove the “Ethereum 2.0” terminology to “save all future users from navigating this confusing mental model.” It went on to explain that the previously-referred-to terms of “Ethereum 1.0” would be branded the “execution layer,” while “Ethereum 2.0” will be called the “consensus layer”. This is ultimately to provide a more accurate version of the Ethereum roadmap. Also, just like Bitcoin, Ethereum has started its operation with the help of a proof-of-work PoW consensus mechanism, even though they had a different process of mining. However, it still consumed much electricity power which leaves a large carbon footprint. As a result, the transition to Ethereum 2.0 denotes the shift to a proof-of-stake PoS consensus algorithm.

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