After having a cursory check at the cognizance and key features of this blockchain, it's now time to turn back the pages of history and gain knowledge of pathways or phases that are involved in its introductory stage.
As per the empirical research conducted to dig the information about its past, it has been discovered there are three stages in which this blockchain was launched. In this part of the read, we are going to shed light on each of the phases one by one.
So, get ready to walk through the complete journey of Ethereum 2.0
Phase 0: Introduction of Beacon chain
Launch of the Beacon chain- The first move in this journey. The roots of Ethereum 2.0 can be traced dates back in December 2020. The proof-of-stake was launched in the Ethereum ecosystem through this chain. Not only this, Consensus logic and block gossip protocol that now safeguards the ETH is also a blessing of the Beacon chain. The credit for introducing ETH 2.0 Staking and Shard chain also goes to the Beacon chain. And the launch of the Beacon chain brings several changes and the event of “The Merge” gave birth to the next phase.
Any idea of what the next phase is about?
If not, then step ahead in this journey.
Phase 1: The Merge- Unifying the blockchains
The event of “The Merge” also remember as the practice of merging the blockchains into one. This event took place on September 15, 2022. To end PoW and kick-start PoS involves a complete set of instructions to be given to the Beacon chain. The required instructions involved asking the Beacon chain to approve the transactions from the original blockchain, bundling them into blocks, and then managing them in a blockchain using a Consensus mechanism based PoS.
At this point, the clients stopped performing mining, block propagation, and Consensus logic and handed all the tasks to the Beacon chain. And with this, The Merge happened as it brought an end to multiple blockchains and there is only one PoS now i.e. the Ethereum chain.
Distributing the load with Sharding Chains in Phase 2
Till the time this phase came, the Beacon chain was already launched, and “The Merge” event also took place. And now comes the stage of Sharding. It refers to the process of splitting the load on the network in small blockchains and then distributing them so as to facilitate light-fastening transactions and that too by cutting down the transaction cost.