Ethereum to become hub for global collaboration with Ethereum 2.0
Rocketpool’s Darren Langley elaborated on the Ethereum 2.0 vision in a Medium post. The new Ethereum 2.0 will support massive on-chain transactions while maintaining decentralization and security. It focusses on delivering massively scalable blockchain which can process thousands of transactions per second. The new design will supposedly improve the current scalability and decentralization of the blockchain.
Ethereum 2.0 will combine three key projects namely Proof-of-stake, sharding, and eWASM. These projects will help Ethereum become a “key piece of infrastructure for the world’s transfer of value, a platform for new economic systems and a hub for global collaboration”, according to the post.
Ethereum blockchain will be built with the help of researchers and implementors. The decisions will be made by the community through consensus. Many of the already existing software implementations are written by different software development groups because it is an open source software.
“There are many research topics under investigation that need to be pulled together to make Ethereum 2.0 work,” wrote Langley. Some of the research topics include fork choice, P2P communication, data availability etc.
“As research topics mature they coalesce into a specification that the implementation teams are using to develop their Ethereum 2.0 clients [nodes]. To help in this endeavor, the Ethereum Foundation is developing a reference implementation client in Python. They also provide valuable community support to help implementation teams and a regular Ethereum 2.0 implementors call is run biweekly to track progress, answer questions, and reach consensus on common issues,” according to the post.
The Ethereum 2.0 addresses scalability but also focusses on sustainability, efficiency, and flexibility. It is a mix of different aspects of blockchain and other areas of work. They plan to launch Ethereum 2.0 over the next few years.
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