Vitalik Buterin has explained in a series of post more information about Ethereum 2.0. That's why we present you in 5 points the most outstanding thing about it.
The creation of Ethereum 2.0 has aroused all kinds of reactions. Fear, expectation, doubt, among others. Therefore, and to try to offer an idea to users and developers within the world of Ethereum, its creator Vitalik Buterin has published some articles in his blog about the launch.
After reading these articles, many people have suggested that things are moving quickly for the next Ethereum project.
However, others still have some suspicion about it. Therefore, we have decided to give you a summary of the ideas presented by Buterin, so that you can form your own judgment on the state of Ethereum 2.0.
First, Buterin mentioned that the launch of Ethereum 2.0 is tentatively planned for the first quarter of 2020 . At this time, network 2.0 is expected to move Ethereum away from the world of the Validation System through Work Tests (PoW), and bring it closer to a Participation Test Validation (PoS) system.
First, Buterin mentioned that the launch of Ethereum 2.0 is tentatively planned for the first quarter of 2020 . At this time, network 2.0 is expected to move Ethereum away from the world of the Validation System through Work Tests (PoW), and bring it closer to a Participation Test Validation (PoS) system.
And, in general, the participation test (PoS) is expected to be more scalable and energy efficient than PoW blockchains, such as Bitcoin.
If you have doubts about how exactly the current Ethereum Blockchain works, we invite you to read more here .
As for more specific data, the most prominent have to do with the following 5 points:
- Move ETH from the Ethereum 2.0 Blockchain to the old Ethereum Blockchain, will it be possible?
As the current Ethereum 2.0 design is, it is likely that it will be years before the old Ethereum PoW chain merges completely with the new PoS network. Meanwhile, ETH transfers between the two chains will be disabled.
This is due to the added complexity of creating a bidirectional bridge since, according to Ethereum 2.0 developer, Preston Van Loon, it presents “a security risk” for both chains.
The truth is that for now, the group has not added a bridge to the design of the Ethereum 2.0 roadmap, although they have openly declared that it is in their plans.
- Ethereum 2.0 can work as your own Blockchain
The chain of lights or chain beacon is the heart of the new PoS network. This will act as a central command center to receive data on confirmed transactions from all other miniblock chains (also called fragments) in the Ethereum 2.0 network.
In other words, that chain manages the validators of the blockchain network and their respective amounts of participation.
On the other hand, the researcher of the blockchain Mihailo Bjelic says that a complex system like Ethereum 2.0 should not replace the current Ethereum main network until developers are sure of its reliability.
Data recovery on the Ethereum Blockchain will be more expensive than before
The increase in costs is due to changes in the way in which the status of the Ethereum - that is, the complete account of transactions and accounts in the Blockchain - is stored in a PoS network.Ethereum will lose the ability to execute transactions atomically
Perhaps the most important thing for dapp developers is that they will no longer be able to execute transactions between different applications so that, if a transaction fails, the entire series of transactions can be recovered immediately.
This is only possible today in Ethereum because all dapps live in a single shared blockchain. Ethereum 2.0 will divide the transaction load into different fragments.
Theoretically, dapps that create new Ethereum transactions will be dispersed and hosted on different fragment networks. This introduces a new dynamic for the execution of transactions in the Ethereum Blockchain so that a fragment network cannot instantly know the complete state of a different fragment network.
In fact, some in the Ethereum community are concerned about the negative impact this change will have on the ability of different applications to easily communicate with each other.
- Ethereum 2.0 will only possess approximately half of the transaction capacity originally planned for launch
Initially it was expected that the new network would have about 1,024 fragments, but Buterin recently proposed only 64 fragments. The main benefit, he said, will be faster and easier communication between the fragments of Ethereum 2.0. Obviously a very different amount than what had been proposed before.
That said, it is notorious that Ethereum 2.0 is still a work in progress. In addition, Buterin's publications in making these publications he seeks to avoid uncertainty since, in turn, it creates fear; and if the fear is not attacked it will be panic that can eventually affect the image of Ethereum.