The Ethereum network is taking a big step towards a scalable PoS blockchain.
L to lack of scalability and high rates of gas are the main problems.As one of the largest cryptocurrency platforms for decentralized applications, Ethereum has been dealing with network congestion reflecting the high gas fees that people have had to pay with each transaction.
Since the beginning of the year, at times, the cost of facilitating transactions in the Ethereum ecosystem has hovered around the range of $ 16-20, reaching $ 100 in DApps such as Uniswap that have a high volume of transactions.From this point of view, the transition to Ethereum 2.0 (Eth2) as a solution designed to address scalability issues, as well as solve the problem of skyrocketing gas rates, is a welcome respite from the Ethereum community.Eth2, or Serenity, will be a technical update that will move the Ethereum blockchain from a proof-of-work (PoW) protocol to a proof-of-stake (PoS) blockchain.
Named after the host city of Ethereum Devcon's inaugural convention, Berlin is a precursor to the larger London hard fork, incorporating four Ethereum Enhancement Proposals (EIPs) that address gas prices and allow new types of transactions.Berlin's EIP-2565 consists of the reduction of gas rates on Ethereum.
This mechanism uses a feature called Modular Exponentiation (ModExp) to benefit Ethereum users who need to run services on the Ethereum network.The EIP0-2718 protocol makes all types of transactions backward compatible, thus facilitating the incorporation of new transaction logic in Ethereum.
However, the update was postponed several times due to concerns about potential vulnerabilities caused by the centralization of the update.Furthermore, the consensus in the Ethereum community was that Berlin would have less of an impact in the short term, but that it would pave the way for the long-awaited London hard fork EIP-1559 protocol.London's hard fork: increased elasticity of blocksEthereum's London hard fork is part of Ethereum's roadmap on its way to the Eth2 launch.