Ethereum roadmap unveiled at DevCon3

Vitalik Buterin, co-founder of Ethereum, talked at DevCon3 about "modest proposal" on Ethereum's future
02 November 2017   2345

The problem

At the Devcon3, the biggest Ethereum developers conference, that is now being held in Mexico, Vitalik Buterin, the co-founder of Ethereum, unveiled a "modest proposal". It's perhaps better described as a three-to-four-year roadmap for ethereum's technical development. This is reported by the Coindesk.

In the center of his vision is a long developing new Ethereum's technical feature, called "sharding". Buterin proposed what might be his most solidified strategy for the technique to date.

DevCon3
DevCon3

The roadmap is aimed at problems, that are going sold on the platform. Main goal is to solve the scalability issues for project developers. As we all know, ethereum nodes need to store everything that ever happened on the network, Vitalik noted that there's need to be solution that reduce expensive storage costs, that will only grow as system growth itself.

The amount of activity on the blockchain is orders of magnitude larger than it was just a couple of years ago. Scalability is probably problem number one [...] There’s a graveyard of systems that claim to solve the scalability problem but don't. It's a very significant and hard challenge. These are just known facts.
 

Vitalik Buterin
Co-founder, Ethereum

The solution

Vitalik Buterin belives that sharding is the "likely" solution to this issue. He is proposing a new type of sharding infrastructure that would solve both scalability and governance – ensuring the eventual system is well maintained and that it stays in check.

The proposal revealed today is for ethereum to be split into different types of shards. There will be the main shard, which would comprise today's ethereum network. Then there would be other shards, which Buterin calls other "universes".

Buterin also believes the partitioning would allow for more aggressive changes on the smaller shards, and more cautious changes on the main blockchain. 

Other universes where all this stuff we’ve been working on these last few years can be rolled out much much faster.
 

Vitalik Buterin
Co-founder, Ethereum

The future

Vitalik also told about other changes that roadmap includes. Among them:

  1. Planned upgrades to the ethereum virtual machine (EVM), the technology that today compiles smart contract code and communicates it to the network. He also talked another long-in-the-making tech project, eWASM, for running ethereum in a web browser.
  2. Another idea proposed was for so-called "stateless clients," a proposal for how clients could sync with the network more quickly.

Nevertheless, sharding looks to be the biggest change over the next three to four years. In the end, Vitalik said that development process had already begun.

AION to Unveil Future Plans

Foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year
06 December 2018   159

The Aion Foundation, which is responsible for the development of the protocol of the same name and collected $ 23 million in Bitcoin and Ethereum on ICO in October last year, published a report in which it shared information about its financial operations. The report was prepared with the support of Deloitte, however, it cannot formally be considered an audit.

According to the Aion Foundation CEO Matthew Spoke, the foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year. Having spent $ 10 million on launching its blockchain platform and opening offices in Canada, China and Barbados, the fund had assets of $ 14 million as of October 31 of this year, $ 5.8 million of which was placed in Fiat.

We’ve liquidated a decent amount of our bitcoin and eth that we raised as proceeds to make sure that we are stable in this type of period. As we continue to spend in our operations we’ll end up liquidating more bitcoin and eth over the course of the next few months.
 

Matt Spoke

CEO, Aion Foundation

The Aion protocol has already attracted active users, including the video game start-up ClanPlay, but Spoke claims that his company will continue to rely on hard currency.

The foundation has roughly 18 months of runway, Spock estimates, while developing his system to a level at which it can compete with centralized counterparts, such as Amazon Web Services, will take about five years. Aion expects to launch its first Java-based virtual  machine, thanks to which developers can use decentralized tools, by the second quarter of next year.

Spoke suggests that at this time his company will have to attract additional funding from cryptocurrency funds and accredited investors in exchange for their own tokens. His goal is to prevent the reduction of the team, which currently includes 61 people, and the operation of the Ethereum model of ConsenSys, a company sponsoring projects in its own ecosystem.

In the future, Aion intends to publish such reports on a quarterly basis and transfer data to the Messari network in order to increase the confidence of its tokens holders.