Which tweetstorm of Vitalik Buterin means for the future Ethereum blockchain



It took 75 tweets but the founder of blockchain Ethereum Vitalik Buterin made it clear the roadmap for the implementation of a new consensus mechanism that promises to dramatically increase the speed at which new entries can be added to the distributed electronic register technology.

Buterin dedicated most of the tweets to explaining the history of Ethereum's developer efforts to create a consensus mechanism of Proof of Stake (PoS) that simplified the process and at the same time fought nefarious attacks to control the content of blockchain.

that a PoS system will be implemented independently of another effort to implement sharing on Ethereum. (Sharding is a way of distributing the computational work necessary to validate new documents, known as blocks, on the technology of the distributed ledger). The efforts for the development of PoS and sharding had been part of a project, but will now be implemented separately.

Proof of Work and Proof of Stake

The two most popular mechanisms or algorithms for authenticating new entries on a blockchain and changes to networks are Proof of Work (PoW) and Proof of Stake.

PoW algorithms force computers on the peer-to-peer (P2P) network to use CPU power to resolve complex cryptographic equations before they are authorized to add data to a blockchain register; those computer nodes that complete the fastest equations are rewarded with digital coins, such as Ether on Ethereum or bitcoins on concurrent technology. The process of earning cryptocurrency through PoW is known as "mining", as in extraction bitcoins.

As the name implies, the PoS consensus models allow those with the most digital coins (the biggest mail) to govern a cryptocurrency or a commercial blockchain. To date, however, the most popular blockchain-based cryptocurrencies – Bitcoin, Ethereum (Ether) and Litecoin – have used PoW as a consensus mechanism.

While PoW algorithms are excellent for ensuring the authenticity of new documents published in a registry, they are also slow and expensive to manage.

The PoW process consumes a lot of electricity, both from the processors running 24 hours a day, and from the need to cool down server farms dedicated to data mining operations. These mining operations are absorbing so much electricity that cities and even countries have begun to block mining operations.


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