Ethereum 2.0 Launches with Proof of Stake

In a long awaited update, Ethereum launched it’s Proof of Stake network, knows as ETH or Ethereum 2.0.

Previously a Proof of Work system, this upgrade is focused on scaling the speed and size of the network. Ether will no longer be mined and will now have validators staking 32 ETH in order to participate in network rewards. These tokens are subject to a multi-year lock up period, which could affect the circulating supply of ETH.

Congrats to the Ethereum developers, including Vitalik Buterin on this long awaited achievement.