What is Serenity (Ethereum Upgrade)?

Serenity is the multi-phased Ethereum upgrade that is transitioning the Ethereum blockchain from a Proof-of-Work (PoW) consensus mechanism to Proof of Stake (PoS), while segmenting the network into specialized shard chains that are optimized for scale. Both upgrades are groundbreaking technological endeavors that will increase speed, efficiency, and network scalability on Ethereum. Because of the complexity required in launching Ethereum Consensus Layer (previously Ethereum 2.0), Serenity is designed to launch in a total of four phases over several years. Phase 0 was successfully deployed in December 2020 with the launch of the Beacon Chain upgrade.