Is Ethereum 2.0 still happening?

Ethereum 2.0 is currently live on the testnet , with holders already staking nearly 8 million ETH. Before this 2.0 upgrade, Ethereum received another update in the London hard fork on August 5, 2021.7 Mar 2022

Ethereum is an older version, whereas Ethereum 2.0 is an upgraded system that is introduced with new ways of operations . Ethereum 2.0 is aimed at improving the speed, and efficiency, and a number of transactions.

Ethereum 2.0 will involve sharding to drastically increase network bandwidth and reduce gas costs, making it cheaper to send Ethereum, tokens, and interact with smart contracts . There will be fundamental economic changes too, Ethereum 2.0 will allow supports to staking nodes and earn Ethereum as passive income.