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When Ethereum was officially launched in 2015, it was seen as a decentralized, open source and public platform that would allow blockchain processing and data processing. With a project of this kind that advertised its blockchain as a "world computer" it quickly drew the attention of the entire crypto industry in a way to rapidly increase the native digital resource of the Ethereum ecosystem, quickly exceeded most of the altcoins to solidify itself in the first ten markets.
However, as the network grew, it saw a wave of active users and daily transactions and it soon became clear that Ethereum's consent mechanism on the Proof of Work would probably not survive in the long run.
This is a problem that has been predicted by projects that have contributed more specifically and that have driven many developers and researchers to encrypt hundreds of hours of work to solve the most persistent concern of the network, which is scalability.
According to Ethereum World NewsSpeaking to the recent Devcon4, which is one of the key events for Ethereum this year, the showrunner of the Crypto Trader segment of CNBC Africa, Ran NeuNer spoke with Justin Drake regarding the problems of scalability.
Ethereum 2.0 is most likely a word of order that, as an encryption trader, you've probably heard. But what is it and what does it mean?
Drake, the Ethereum Network researcher and his protocols said:
"It contains several new radical ideas, part of which is around a passage from Pole Test (POV) away from POW, and the other big idea is sharding, so scalability: having a thousand fragments compared to only one fragment. "
For those who do not know, sharding is a technical term used to describe the subdivision of digital data sets into "fragments". If we look at the decentralized network, developers say that sharding could be useful to make consensual mechanisms more efficient by allowing for increased data throughput and higher transactions.
Sharding could very well be a turning point, but many have criticized the developers and the project community for not being fast enough. Drake mentioned this and said there were mistakes in the past, as well as promising things that have never been made and excuses for the related delays and the underestimation of how complex things would turn out.
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