# What is ETH 2.0?
ETH 2.0 is a replacement network with will eventually upgrade the current Ethereum network.
It's been in the works for 5-6 years and was originally mentioned in the Ethereum white paper in 2014.
The goal is to become the final global shared compute platform which runs lots of very exciting stuff, including KO and any future platforms we build.
Ethereum 2 (ETH2) is an upgrade to the Ethereum network that aims to improve the network’s security and scalability. This upgrade involves a shift in Ethereum’s mining model (“Proof-of-Work”) to a staking model (“Proof-of-Stake”).
ethereum.org on the merge <- The merge
consensys <- some docs
block explorer <- ETH 2.0 block explorer
Staking options <- ETH 2.0 stacking options
The network is super busy as people are setting up ETH 2.0 validating nodes and depositing collateral to be staked. Running these nodes is not exactly easy so please research lots about it if you are intending to do this. Its also risky, so be careful.
# What is the Merge?
The upcoming "merge" relates to the switching of the consensus layer within Ethereum from “Proof-of-Work” to “Proof-of-Stake”. Merging the proof-of-stake layer into the current execution layer
Read more about it here
# How will it impact KO and its users?
Good question - the reality is that KO will not be impacted byt this merge however there are some points to be aware of.
- You do not need to do anything to protect your funds entering The Merge.
- As we approach The Merge of Ethereum Mainnet, you should be on high alert for scams trying to take advantage of users during this transition. Do not send your ETH anywhere in an attempt to "upgrade to ETH2." There is no "ETH2" token, and there is nothing more you need to do for your funds to remain safe.
- Most likely their will be a chain split in any miners will attempt to draw the maximum value from the PoW chain. Be very careful interacting with this new forked ETH POW chain, transaction could be replayed on the PoS chain and so be very mindful if you chose to interact with it.
- Most if not all major stable coins have publicly stated they will not follow any forked chain, this means any value they previously had will be wiped out to zero.
- The safest options it to not interact with any forked proof-of-work chains post merge.
Read more about it here
# Do I need to do anything now?
No, if you want to participate in the new network I would recommend reading lots articles, running a validating node and or joining a decentralized staking pool such as RocketPool.
Again this is also risky, so be careful before committing any funds
KO will function fine without any changes during this transition and once/if any changes are needed, we will notify everyone about them.
Our opinion is that if ETH 2.0 works as is, it will solidify Ethereum as the top global smart contract platform
that will enable
trustless compute for generations to come, but in reality that is still a dream and is
a few years away.
Hope this helps answer any questions - DM to team if you have anymore.