In the next major phase of development, Ethereum’s Beacon chain will be bridged to the main Ethereum network and will replace the current, energy-intensive proof-of-work system with proof-of-stake. Network stakeholders known as “validators” will begin producing blocks, verifying transactions and managing the security of the blockchain in place of miners after Ethereum and Eth 2.0 are merged. Alongside him was Gavin Woods, who coded the first implementation of Ethereum in the C programming language. He also proposed the now native programming language of Ethereum known as Solidity and became the first CTO of the Ethereum Foundation. © Copyright 2024 Gemini Space Station, LLC or its affiliates. Ethereum ether hit a record price high on 3 November, 2021, pushing the crypto market to an all-time high