It won't be long before ETH 2.0 arrives. The proof-of-stake consensus method would be used in ETH 2.0, a future iteration of the Ethereum blockchain that would use staking to validate transactions. The previous proof-of-work consensus method, which required ethereum miners to consume high voltage electricity to process transactions, would be replaced with the merging by the proof-of-stake consensus method. Miners would be replaced with validators, who would also be able to take part in the proof of stake consensus. Up to 32 ETH and more can only be staked with a validator. Through the algorithm, it would be possible to do validation tasks. A validator's stake in ethereum influences how frequently they may generate blocks, which in turn decides how much ethereum they will receive in reward. The reality of this scenario is that the most heavily staked validators earn more than ordinary validators, leaving the regular/average validators with pitiful profits after staking. This leads me to conclude that PoS is a plutocracy and that EIP-1559 will allow the largest holders to accumulate quicker than anybody else by engaging in nothing but staking, which results in some degree of centralization. This week saw the debut of the merging testnet (Goerli Testnet). By the 15th or 16th of September, The Merge is scheduled to debut, and I assume there would be an increase in the price of eth before the launch.

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