[ad_1]
The second worldwide digital asset Ethereum (ETH), officially launched three years ago, was initially praised as a completely decentralized and open source public platform that would open the way for data processing and blockchain computing.
Thus, the project, which tagged its blockchain as a "world computer", immediately gained traction from the entire cryptographic ecosystem. The ether, the native token of the Ethereum ecosystem, quickly overcame many alt-tops to firmly position itself in the top 10 of the market.
However, as the network's ecosystem has evolved with an influx of daily transactions and active users, it became clear that the Proof of Work (PoW) algorithm of the network would not have stood the test of time. This looming problem was predicted by the most dedicated employees of the Ethereum project, which has led many developers and researchers to spend hundreds of hours trying to solve the problem of scalability.
During Devcon4, the important event of Ethereum, Ran Neuner, With CNBC spoke with Justin Drake, a researcher on Ethereum's blockchain and its protocols related to the problems of scalability that caused problems for Ethereum (ETH). Ethereum Price (ETH) today – ETH / USD
Ethereum 2.0 (Serenity) is the future of Blockchain
According to Drake, 2.0, also known as "Serenity" contains a series of fresh and radical ideas that include a shift from PoW (proof-of-work) to (PoS) proof-of-stake. Sharding to tackle scalability is another great idea. Sharding is a term for describing the subdivision of digital data sets into "fragments". For decentralized networks, developers insist that sharding can ensure that consensus mechanisms are more efficient, leaving room for higher transactional data / data.
While sharding is unquestionably a turning point, many space experts have criticized the developers behind the project to be slow. According to Drake there have been "errors" as well as excessively promising, as well as communication problems and underestimation of how complex things actually are. Drake added that "in reality" the Serenity project is moving well, that researchers continue to propose better projects. Drake says that "they are moving very fast to meet".
Ethereum (ETH) Constantinople can facilitate the consent of pure PoS
When Neuner talked about many other delays such as the delay of several months seen recently with the Ethereum Constantinople project, being an integral part of the activation of Serenity, Drake attributed the delays to the plans of the developers to ensure that Serenity is backward and compatible with Ethereum 1.0. This would require developers to ensure that scalability solutions were implemented in the legacy chain.
Now, however, the network development team has moved from this goal. They decided to start from scratch using a new blockchain protocol. Although this may allow the ETH to grow further, Drake indicated that the new environment has made most of the developers overly ambitious, which is also a delay. However, the prominent cryptographic exponent explained that the serenity phase 0 will arrive in 2019, which is only a year before the start of the first phase of Serenity and then phase 2 (EVM) arrives in 2021.
The ascension of the project to its next phase could eventually facilitate a pure consensus of the PoS, as well as faster times for synchronous confirmation (from 8 to 16 seconds) and economic purposes (within 10-20 minutes). "Above all, make sure you scale 1,000 times that will solve most of Ethereum's scalability deficiencies.
reported
Source link
