What Does Ethereum 2.0 Mean? Why Is It Important?

For years, the cryptocurrency market has revolved around Bitcoin. However, it is Ethereum that has elevated blockchain technology to a new level by nurturing hundreds of new blockchain networks and their native tokens. Moreover, the upcoming Ethereum 2.0 is expected to fundamentally transform its "predecessor." Ethereum introduced the concepts of smart contracts and decentralized applications (DApps) to a broader community. Today, it hosts many blockchain projects, including those thriving under the decentralized finance (DeFi) framework.