What is it?
It is a new upgrade to the ethereum network and it improves on all factors that the original ethereum network did not. ETH 2 is meant to be more scalable, secure and longer-lasting. Ethereum 2 will be able to support about 1000 transactions per second (It should not increase the node) unlike the original 15 per second. Ethereum 2.0 is also meant to be more secure against possible attacks and prevents people from disrupting the price. Ethereum 2.0 is also going to replace proof of work, which requires high intense computing power and electricity, with a proof of stake method.
In the original ethereum network, it required proof of work to get ethereum. This would be done through miners who would use their computers computing power and electricity to validate problems to get ethereum. Now in proof of stake miners are no longer required or there need for electricity, instead, people use their money and invest in ethereum to get rewards (a certain percentage back) as well as the transaction fee. This all depends on how much ethereum the person has staked (or put out into securing the ethereum network). If these people (validators) are not validating the ethereum in the right manner, then they will lose some percentages, this is called Slashing. To be a validating person you need to state at least 32 ethereum.
To know more info on ETH 2.0 visit: Youtube Link
