ETH2.0 is a Layer 2 token designed to address issues of high block gas fees and slow confirmation speeds on the Ethereum network. It aims to provide a solution for limitations in application deployment, offering lower gas fees and faster block confirmations. As part of the Ethereum community network, ETH2.0 leverages the security and decentralization of Layer 1 (Ethereum) while providing a separate execution layer for improved scalability. The Shapella upgrade in April 2023 facilitates withdrawals and further enhances the network's functionality.