What is Ethereum Consensus Layer?

Ethereum Consensus Layer (formerly known as Ethereum 2.0) refers to a set of Ethereum blockchain updates intended to vastly improve its scalability, efficiency, and broader utility. The multi-phased package of upgrades is officially called Serenity. It features a switch from a Proof-of-Work (PoW) consensus algorithm that relies on computational mining to a Proof-of-Stake (PoS) consensus algorithm that relies on validator staking to keep the network in motion. In utilizing PoS and implementing the innovation of partitioned shard chains, Ethereum Consensus Layer is expected to be able to achieve the transactional scale required to be the global supercomputer.