Ethereum people are rejoicing because the last testnet preceding the eagerly awaited Ethereum 2. Several upgrades have been reported and among them is the 0 upgrade which has been reported to have been successfully done. This has been a landmark improvement on the way to completing the upgrade on the Ethereum mainnet which if done will be a game changer in the scalability, security, and sustainability of the network.

The end of testnet phase has brought a great anticipation among the developers, investors, and users of the Ethereum platform. Ethereum 2. This symbol is called 0 also it name is serenity and it means that the transition from the current proof-of-work or PoW to the proof-of-stake or PoS is set for the cryptocurrency network.

This shift is expected to cut down enormously the energy consumption of the network, which is a common concern towards the use of blockchain technology. This becomes evident once they complete the testnet, showing that the new PoS is capable of sustaining Ethereum’s complicated operations while being secure and decentralized.

That is one of the main advantages of Ethereum 2. 1 is sharding, that when implemented will enable the network to process the transactions concurrently thus enhancing the throughput of the network. This improvement is vital for overcoming the current scalability problems that have been witnessed by the Ethereum network during the high traffic period such as during the DeFi bubble and the NFT rush.

Sharding allows Ethereum to do thousands of transactions per second, thus competing with traditional payment systems and making the way for dApp mainstream adoption.

The update is also expected to bring an economic stimuli program for the participants of the network as well. In the PoS system, validators instead of miners will be able to mine new ETH and receive reputations for maintaining the network while staking the Ethereum. This change is likely to produce a more sympathetic and sustainable environment for the development of the network, thereby enriching more participants’ participation in the earning of rewards and contribution to the network’s security.

As debate on the mainnet launch intensifies, the Ethereum foundation and core developers are keeping a busy schedule in the backend. They have highlighted the role of the community in participation and observance during the course of node upgrade. The foundation has also stated a number of educative measures and avenues of support to the user and developers on the side of effects for the Ethereum 2. 0.

These are based on the mainnet future launch of Ethereum 2. 0 on the mainnet has influenced the cryptocurrency market in a rather short time – and this is only the beginning. The ETH token price has been on the rise because of the upgrade anticipation that investors consider as a positive for ETH’s future. With every passing day, anticipations are high with the people of the crypto world anxiously waiting to see this change happen with the mainnet launch.