Ethereum 2.0 Upgrades Explained - Sharding, Beacon Chain, Proof of Stake (Animated)

Ethereum 2.0 has some major updates coming and we are here to explain them to you in an easy-to-understand way.

Sharding: Eth 2.0 is adding 63 shard chains to help scale the network so it can process more transactions and data at a faster speed, which means lower fees!

Beacon Chain: The beacon chain is the heart of the upgrade, it is a mega chain controlling all the shards, as well as doing some other important things

Proof of Stake: This is the way we will decide who gets to add the next block to the chain - instead of working really hard, we are going to pick people who lock up their Eth and randomly select them so it's more fair and eco-friendly