What we know so far?

So far, over 30,000 validators have joined the network and over 946,000 ETH has been staked.

The test is expected to run until the end of this year, after which Ethereum 2.0 Phase0 will officially be deployed (mainnet). Currently, the ETH 2.0 mainnet is expected to launch in November 2020.

Will ETH 2.0 replace ethereum ?

Ethereum 2.0 is an upgrade to the already existing Ethereum blockchain.

It aims to increase the speed, efficiency, and scalability of the Ethereum network, enabling it to address the bottlenecks and increase the number of transactions. The pseudo names for Ethereum 2.0 are Eth2 or Serenity.

Ethereum's 'Difficulty Bomb'

According to Prnewswire the Ethereum GeneSys Foundation has successfully executed a mining fork of Ethereum, in order to:

• save Proof-of-Work miners from the Ethereum network's 'Quick Merge'.
• reclaim staked ETH 2.0 coins, continue Proof-of-Work mining indefinitely, and make future changes to the Blockchain consensus
• reducting of gas fees,
• enhancing Proof-of-Work security,
• and making performance improvements.

By the way this fork took place in Toronto, is an effort to save the global Ethereum mining community from the Blockchain network's proposed 'Quick Merge'.

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