What is Ethereum & how does it work?

Ethereum is a Blockchain network that introduced a built-in Turing-complete programming language that can be used for creating various decentralized applications (also called Dapps). The Ethereum network is fueled by its own cryptocurrency called ‘ether’. The Ethereum network is currently famous for allowing the implementation of smart contracts.

What is Ethereum 2 & eth2?

Ethereum 2.0 (often referred to as ETH2) is a major upgrade to the Ethereum network. It’s designed to allow the Ethereum network to grow while increasing security, speed, and efficiency. As of early 2021, Ethereum 2.0 and Ethereum 1.0 exist side by side — but the original blockchain will eventually merge with ETH2 blockchain.

Could 'Ethereum merge' be a sea-change for the crypto-currency industry?

'Ethereum Merge' could cut the network's energy usage by as much as 99.5%. It could be a sea-change towards sustainability for the crypto-currency industry. With the crypto-currency market under pressure in recent months, a long-awaited software upgrade to one of the most popular crypto platforms, Ethereum, was made public last week.

Why is Ethereum so expensive?

In 2017, the popularity of the game CryptoKitties caused ether’s network to become heavily congested, slowing transactions significantly and leading the game’s developers to raise their fees. Scalability is one of the biggest issues with the Ethereum network today. It currently operates using a proof-of-work protocol, similar to bitcoin.