Ethereum’s London, Berlin and Shanghai forks and their role in Serenity – Cointelegraph

Ethereum’s London, Berlin and Shanghai forks and their role in Serenity – Cointelegraph

Ethereum (ETH) has enjoyed a good run so far in 2021, with its value increasing from about $1,300 at the beginning of the year, to nearly $4,000 in May. However, Ethereum’s price aside, consistent problems on the Ethereum blockchain have brought to light the anger of traders and decentralized application (DApp) developers on the Ethereum ecosystem. Lack of scalability and high gas fees are the main issues.

As one of crypto’s biggest platforms for decentralized applications, Ethereum has been dealing with network congestion that reflects the high gas fees that people have had to pay with every transaction. Since the start of the year, at times, the cost of facilitating transactions on the Ethereum ecosystem has hovered around the $16 to $20 range, going as high as $100 on DApps like Uniswap that have high trading volumes.

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 fees, is a welcomed reprieve by the Ethereum community.

Eth2, or Serenity, is set to be a technical upgrade that will move the Ethereum blockchain from a proof-of-work (PoW) protocol to a proof-of-stake (PoS) blockchain, thereby increasing its capacity for transactions, reducing gas fees and making the network easy to scale and more eco-friendly when generating new coins and validating transactions.

After years in the making, the move toward Eth2 began with the launch of the Beacon chain as
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