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The older of the two mechanisms, Proof-of-Work is used by traditional blockchains like that of Bitcoin and Ethereum 1.0.
Ethereum 2.0, also known as Eth2 or “Serenity,” is an upgrade to the Ethereum blockchain. The upgrade aims to enhance the speed, efficiency, and scalability of the Ethereum network so that it can avoid bottlenecks and process more transactions simultaneously.
How does Ethereum 2.0 differ from Ethereum?
While Ethereum 1.0 uses a consensus mechanism known as proof-of-work (PoW), Ethereum 2.0 will use a proof-of-stake (PoS) mechanism.
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