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The first transition stage of the Ethereum network is termed as 'Phase Zero.' It transitions from a proof-of-work to a proof-of-stake consensus algorithm. The block validation function will be passed on from miners to special network validators. Since the inception of the network, developers have been looking ahead to a transition to the proof-of-stake consensus model which has been dubbed as 'Serenity.'

The Director of research at blockchain firm Blockstream and mathematician Andrew Poelstra announced that zero-knowledge proof (ZK-Proof) systems are "one of the most exciting areas of development" in the cryptography providing the basis of privacy-preserving solutions. According to the Mathematician, cryptographers have made significant progress in the application efficiency,

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