ETH founder Vitalik Buterin announced the cryptocurrency update to version 2.0, which will reduce energy consumption by 99%.
Version 2.0 will make the network more convenient for cryptocurrency transactions. It will change the network from Proof-of-Work (PoW) algorithm to Proof-of-Stake (PoS).
The PoW network requires miners to create power, while PoS is provided by cryptocurrency holders and is remunerated for it. It is not yet known when the version update will come.
As a reminder, the "London" hardfork took place on August 5. An important part of it was the EIP-1559 update, which changes the system of charging commissions for transactions.
After the hardfork, blocks will have fixed commissions, depending on the demand and complexity of the network. Users will no longer calculate the commissions themselves. London also introduced "tips" for cryptocurrency miners for fast transactions.