Ethereum 2.0 (hereinafter referred to as ETH2) is the upcoming major upgrade to Ethereum Mainnet. It refers to a set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable. These upgrades are being built by multiple teams from across the Ethereum ecosystem.
The following are the broad design goals for ETH2:
to minimize complexity, even at the cost of some losses in efficiency
to remain live through major network partitions and when very large portions of nodes go offline
to select all components such that they are either quantum secure or can be easily swapped out for quantum secure counterparts when available
to utilize crypto and design techniques that allow for a large participation of validators in total and per unit time
to allow for a typical consumer laptop with
O(C) resources to process/validate
O(1) shards (including any system level validation such as the beacon chain)
Ethereum needs to support 1000s of transactions per second, to make applications faster and cheaper to use.
Ethereum needs to be more secure. As the adoption of Ethereum grows, the protocol needs to become more secure against all forms of attack.
Ethereum needs to be better for the environment. The technology today requires too much computing power and energy.