A few days later Vitalik Buterin, co-founder of the Ethereum Foundation, discussed the "Serenity Protocol" in front of the crowd of thousands of Devcon4, a consortium of four cryptic researchers presented a white paper project related to Casper (Correct-By- Construction), which aims to solve the problems of scalability of Ethereum through Proof of Stake (PoS).
While the technical paper is in its infancy, many see this development as a promising step towards the ethos of the project mentioned above, which consists in creating a scalable, decentralized and efficient "world computer".
Meet Ethereum Casper CBC
Ethereum, officially launched in 2015, was praised for the first time as a decentralized, open source and public platform that would allow blockchain processing and data processing en bloc. And as such, the project, which advertised its blockchain as a so-called "world computer", quickly gained traction from every corner of the crypto industry. In a testament to its rapid rise to the limelight, Ether, the native resource of the Ethereum ecosystem, quickly surpassed most of the altcoins to position themselves firmly in the top 10 of the encrypted market.
But while the network ecosystem swelled, seeing an influx of active users and daily transactions (think of CryptoKitties), it became clear that the consent mechanism of Proof of Work (PoW) of Ethereum, partially supported by the SHA256 system of Satoshi Nakamoto, did not stand the test of time. This looming problem, of course, was predicted by the more specific contributors of the project, leading many cryptocentric developers and researchers to spend hundreds of hours solving the most pertinent problem of the network: scalability.
Now, while the discussion on the scalability of the Ethereum blockchain rises to new heights, Vlad Zamfir, one of the leading researchers of the Ethereum Foundation, and three of his colleagues have released a technical paper, entitled "Introducing the & # 39; Minimal CBC Casper & # 39; Family of Consensus protocols ".
🥳🥳 @ naterush1997 @adiasg Georgios Piliouras and I have published a draft of covers on CBC Casper in a much more excruciating number than what has been available so far! Take a look !! https: //t.co/Vy4QACI34U
– Vlad Zamfir (@VladZamfir) November 4, 2018
The document, which contains an abundant quantity of technical formulas, highlights Casper Correct-By-Construction (CBC), a decentralized consent mechanism and a protocol that would allow the implementation of an efficient PoS system on the Ethereum network, which was one of the first goals of the project from day one.
Due to the fact that the document is being drafted, Casper CBC is probably two or three years away from full implementation on the main Ethereum chain, but regardless, this is undoubtedly a move that can push the Ethereum Project to a higher and higher level than ever before.
First Serenity, then Casper CBC
As reported by NewsBTC just a few days ago, Vitalik Buterin, the de facto face of the Ethereum Foundation and a world-renowned crypto-commentator, took part in the Devcon4 stage, based in Prague, to highlight Serenity.
For Buterin, through a brand new blockchain and a three-stage roll-out, Serenity is a true "Casper creation", which will eventually move away from the PoW / PoS hybrid model to be implemented in a pure PoS mechanism.
The protocol can eventually facilitate "pure consent of the PoS, faster times to synchronous confirmation (8-16 seconds), economic purpose (10-20 minutes)" and, above all, a scalability increase of 1,000 times, which will probably resolve the majority short and medium term shortcomings of Ethereum.
However, in the end, once Casper CBC is fully developed and ready for global distribution, the Ethereum Foundation seems open to the implementation of the protocol, which should improve the PoS mechanism used by Serenity. Speaking to Devcon4 during the "Post-Serenity Innovation" segment of his keynote, Buterin, an extraordinary Russian-Canadian programmer, said:
"There's definitely a place in our heart and the heart of the Casper CBC roadmap, [but only] when it becomes clear that there is a version that makes sense from a top view. "
So, for now, users of Ethereum will have to settle for the scalability improvements of 1000x of Serenity, or at least until Casper CBC is ready.
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