While the efforts to change the consensus structure of Ethereum continue, explanations continue to come from Ethereum-based projects. On the one hand, while the L2 projects continue to develop, on the other hand, the news from the Ethereum developer team is followed meticulously. So much so that Paolo Ardoino, chief technology officer of Bitfinex and Tether, who made a statement recently, announced that they are planning to support ETH 2.0 via Twitter.
https://twitter.com/paoloardoino/status/1553702442348453894
Tether Will Support ETH 2.0
The merger, which will turn Ethereum into a proof-of-stake (PoS) consensus mechanism, is expected to reduce the electricity consumption of the network by over 99 percent. Paolo Ardoino, Bitfinex and Tether chief technology officer, said in a tweet on Sunday that they plan to support ETH 2.0 amid widespread speculation that Tether may once again delay Merge.
What is Ethereum 2.0 and What Does It Offer?
ETH 2.0 is a long-planned upgrade to the Ethereum network, giving it the scalability and security it needs to serve all of humanity. ETH 2 plans to reduce energy consumption, allow the network to process more transactions, and increase security. Technically speaking, Ethereum will be a Proof of Stake (PoS) blockchain and will introduce shard chains. This is a huge change in the way Ethereum works and could bring equally huge benefits.
For detailed information about Ethereum 2.0, click here.
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