Ethereum 2.0 is not an upgrade to the main net, a separate platform from the main chain which is going to replace the existing platform in the future.
a. Proof of stake consensus mechanism, which is going to eliminate the need for expensive mining happening in proof of work.
PoS is important, we need to stop wasting electricity right now, so it’s important, but without scaling, the only use [for the network] is token speculation. So I really believe we need scalability so that people can use Blockchain applications.
Blockchain can be described as a distributed ledger technology which can record transactions between parties at a safe and permanent manner.
Single point of failure (SPOF) is part of a system which, if it fails, then will prevent the whole system from functioning.Full Story