Trading cryptocurrencies on decentralised exchanges (DEXs) is a direct-to-peer process with no middleman or custodian. Smart contracts are automated executing agreements written in code that facilitate these transactions.
Ethereum 2.0 (also known as ETH2) is a significant upgrade to the Ethereum network. It’s intended to help the Ethereum network expand while also improving security, speed, and efficiency.
Ethereum 2.0 and Ethereum 1.0 are coexisting as of early 2021, although the original blockchain will eventually combine with the ETH2 blockchain. (If you own ETH, you won’t have to do anything; your ETH 1.0 holdings will be automatically transferred to the ETH2 network.) The transition to ETH2 began in December 2020 and will take two years to complete.
Ethereum is a decentralised blockchain technology that creates a peer-to-peer network for securely executing and verifying smart contract code. Participants can transact with one another without relying on a trusted central authority. Participants have full ownership and visibility of transaction data since transaction records are permanent, verified, and securely distributed all across the network. User-created Ethereum accounts are used to send and receive transactions. As a cost of processing transactions on the network, a sender has to sign transactions and are only able to spend Ether, Ethereum’s native coin.