What are the disadvantages of switching from PoW to PoS ?
I'm asking this, so that we can have an objective discussion.
Also, is it an upgrade or a
reboot of the platform? It appears Vitalik created a new platform and called it Ethereum 2.0. Is it his acknowledgement that Ethereum 1.0 has failed?
Serenity exists as a wholly new chain alongside the current chain. As we mentioned above, they will use Casper FFG to ease up the transition from Eth1 to Eth2 by overlaying it top of the existing network as an additional layer. You can read more about the technique they use at
Ethhub.
Vitalik says that the transition to Eth2 is a way to bring technical improvements. It tends to fix the various problems highlighted by Ethereum 1.0 (Scalabity, Security and Decentralization etc).