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Can someone please explain how do the ETH1 balances become ETH2 if they don't move on-chain? How does eth1 become a shard? Is ETH2 an airdrop of eth1 balances?

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ETH1 is a blockchain secured by Proof Of Work. ETH2 is a blockchain secured by Proof Of Stake.

Balance on ETH1 are reported on ETH2 so you have nothing to do, if you have 1 ETH on precedent network you will have 1 ETH on the newest.

But just as Bitcoin/Bitcoin cash, there is a risk that miners support a hard fork so you will end up with 1 ETH on PoS chain and 1 ETH on PoW chain legacy.

ETH1 does not become a shard, it becomes ETH2.

ETH2 is not technically an airdrop, your balance will be inchanged.

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  • BItcoin Cash was an airdrop of Bitcoin. If miners remove the iceage, how is ETH2 not an airdrop of ETH1?
    – zndtoshi
    Jun 2 at 9:12

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