What's Hot

    Huge state-owned Chinese blockchain ChainMaker

    04.02.2023

    “Cryptotolet will start in Q2 2023”

    04.02.2023

    Elon Musk vows to share ad revenue with content creators

    04.02.2023
    Facebook Twitter Instagram
    Saturday, February 4
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Ethereum»Vitalik Buterin speculates on Ethereum 2.0 completion status
    9cba75ddcee4e2fa44dd25ac3f4380930d8d196f
    Ethereum

    Vitalik Buterin speculates on Ethereum 2.0 completion status

    AdministratorBy Administrator05.01.2022No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~ 2 m


    Vitalik Buterin named the approximate timing of the completion of the development of Ethereum 2.0. Unfortunately, some of us will be disappointed with his words.

    Speaking on the Bankless YouTube channel, Buterin touched on a variety of topics, including what makes him happy – maximalism and 1s layers.

    But the main topic of the interview was about the development of Ethereum 2.0, in particular the article “Endgame”, which he posted on the blog in early December last year. This article laid out a plausible roadmap for realizing his vision for the chain.

    During an interview with Bankless, Buterin spoke in more detail about the updated path to Ethereum 2.0.

    The path to achieving the goal

    On December 1, 2021, the first anniversary of the Beacon Chain launch, Buterin tweeted an updated roadmap. It now consists of five separate groups designated as “merge”, “splash”, “edge”, “cleanup” and “bounty”.

    The merger refers to the convergence of two parallel Ethereum chains. This event will mark the transition from Proof-of-Work to Proof-of-Stake chain.

    The surge is associated with increased scalability due to roll-ups and sharding. Roll-ups are scaling solutions that execute transactions off the main chain, but with proof of the transaction made at the first level.

    Sharding can be thought of as distributing traffic between 64 new chains, thus delimiting the load on the network.

    Edge is statusless clients, i.e. a scaling methodology to reduce the size of Ethereum’s state. This will make the nodes work much more efficiently. This is due to cleanup, which aims to improve the efficiency of nodes by deleting historical data.

    “New accounts are constantly being added and new smart contracts introduced. Therefore, the size of Ethereum’s fortune continues to grow.”

    Finally, “generosity” means that Ethereum 2 will add additional features, including the creation of an anti-censorship feature.

    How far has Ethereum 2.0 come?

    When Buterin was asked to assess the progress of the roadmap to date, he said that we are now about halfway. He then said that the next milestone – merging – is 60% of the journey.

    “I would say around 50. I am ready to cross the 60 mark when the merger is fully completed, and I think to cross the 80 mark when we have full implementation of sharding.”

    The merger is expected to take place in the first / second quarter of this year, according to Consensys. Complexity time bomb delays, however, suggest that this may not happen on time.

    The difficulty time bomb will gradually make it harder to mine ETH until it becomes economically disadvantageous. This process involves the gradual squeezing out of miners. But it is unclear how long the “gradual” failure will take place.

    Buterin mentioned that work on all five categories of the roadmap is being carried out in parallel, and not as separate stages with clear boundaries between them.




    #Vitalik #Buterin #speculates #Ethereum #completion #status

    Buterin completion Ethereum speculates status Vitalik
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    2023 brought a significant increase in fees on the Ethereum network

    04.02.2023

    Ethereum to launch testnet with Shanghai-Capella update

    03.02.2023

    ​User paid a fee of $32,000 for a transfer on the Ethereum network

    03.02.2023

    By the end of 2023, Ether may exceed $2,000

    03.02.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Huge state-owned Chinese blockchain ChainMaker
    • “Cryptotolet will start in Q2 2023”
    • Elon Musk vows to share ad revenue with content creators
    • News Hedera (HBAR)
    • Artificial intelligence determined the price of Solana on February 28
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.