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   3564

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.

dOrg to Become The First DAO With Legal Status in US

DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract
13 June 2019   176

The decentralized autonomous organization (DAO) dOrg based on the DAOstack framework registered dOrg LLC in Vermont, USA. This was the first precedent in the United States, according to law firm Gravel & Shea.

According to the company, the blockchain-based limited liability company (BBLLC) has a legal status, which allows it to enter into agreements and protect the interests of participants in accordance with applicable law.

Note that a DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract. Decisions in such organizations are made by voting by the participants, which provides consensus.

dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.
 

Oliver Goodenough

Law professor, Vermont Law School and special counsel, Gravel & Shea

dOrg believes that they have made the first step in integrating the DAO format into the existing economy.

Some time ago, Moloch DAO attracted 1000 ETH from Vitalik Buterin, Joseph Lubin, start-up ConsenSys and non-profit organization Ethereum Foundation.