In recent weeks the trend of Ethereum having insane transaction fees has ended. This drop is not caused by Ethereum 2.0 , it looks like a drop in NFT traffic in a post-frenzy crash, coupled with a big dip in DeFi. Some will say there is also a lot more going on now on Layer 2 blockchains such as Polygon (MATIC).

Recently rebranded to “Consensus Layer,” Ethereum 2.0 would improve the network’s transaction speed, lower costs, and eliminate Ethereum’s carbon or energy footprint problem. The upgrade will shift Ethereum away from a proof-of-work (PoW) consensus mechanism, something that Bitcoin also uses to validate transactions, to a different model called proof-of-stake (PoS). The latter mechanism is more environmentally-friendly as it demands less computing power to achieve comparable levels of security.

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~Ethereum 2.0 Coming Soon | ETH Analysis~
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