Vitalik Buterin reveals roadmap of Ethereum 2.0

The co-founder of Ethereum, has laid out the future plan of the platform at a conference in Taipei
26 November 2017   1814

Vitalik Buterin began his speech with an icebreaker on the many Ethereum replacements that have come on the market in recent months.

The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum… 2.0.

 

Vitalik Buterin

The co-founder of Ethereum

Buterin moved on by describing the four areas where he considers a need for improvement on the current Ethereum platform. These areas were: privacy, consensus safety, smart contract safety and scalability.

Easy solutions

For each of the first three, Buterin sees a solution that is currently developing. In the area of privacy, the Byzantium hard fork has presented the possibility for zk-SNARKs, a method that Vitalik sees as a suitable one with continued implementation. 

For consensus safety, the recent development, so-called ‘Casper’ should find out solutions, and for smart contract safety, Viper and formal verification can provide conditions for real solutions.

Nevertheless, the issue of scaling is a substantial one. Buterin described that decentralization, scalability and security are a complex system that can present major challenges in the future.

Scalability on the Ethereum, according to Vitalik requires to be thousands of transactions per second. Otherwise, it must deal with all three of the issues.

The change from PoW method  to PoS will be a requirement, and Buterin said that the timeline is likely three to five years.

Ethereum Community Fund Created

Cosmos, Golem, Global Blockchain Labs, Maker, OmiseGo, Raiden and Tendermint are involved in the creation of the new fund
16 February 2018   98

Prominent members of the Ethereum ecosystem open a fund designed to support projects developed on the blockchain of the second largest crypto currency. This is reported by CoinDesk.

Cosmos, Golem, Global Blockchain Labs, Maker, OmiseGo, Raiden and Tendermint are involved in the creation of the Ethereum Community Fund (ECF). Their goal is to introduce the services on the basis of Ethereum in the infrastructure of companies, which they can be useful.

The fund's founders also intend to launch a grant program that will provide "permanent financial security" to selected projects, the press release said.

The founder of Ethereum Vitalik Buterin directly participates in the work of the fund, in a letter to CoinDesk confirming that he acts as an adviser.

Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished. Delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help make that possible.
 

Vitalik Buterin

Co-creater, Ethereum

ECF is not the only organization dedicated to the development of the Ethereum ecosystem. Ethereum Foundation, a not-for-profit organization that also makes a significant contribution to the development of the platform, in January announced the launch of two sponsorship programs designed for developers seeking solutions to scale the network. The Enterprise Ethereum Alliance provides resources to companies interested in applying Ethereum, and links Fortune 500 companies with crypto-cash start-ups.