If all goes well, it is expected that Ethereum 2.0 will be implemented in 3 stages over at least 3 years. The levels include several technical intricacies, however, the following are the basics:
Stage 1 – Start an easier proof-of-stake blockchain operating in parallel with the current system utilizing the Beacon chain. This is to make it simpler to swap between the 2 different types of validation notions further on down the line.
Stage 2 – Sharding was launched. For the first time, the blockchain will verify transactions in parallel.
Stage 3 – eWASM has been introduced as the replacement for EVM.
Each level of the development process will be rigorously tested to make sure that the system is both stable and safe. As a consequence of this, consumers will get time to adapt to the new blockchain implementation’s unique features.
The latest ETH 2.0 is anticipated to be in a strong position to eventually terminate Bitcoin’s rule as the crypto king. The crypto industry and Ethereum as a whole are entering a new age with the introduction of this upgrade. Only time will tell if this is the start of a new era in blockchain technology.