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   2981

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.

Constantinople Hardfork Code to be Included in Geth

Go-ethereum (Geth) v1.8.20 assumes that hardfork in the main Ethereum network will take place at block 7,080,000 (approx. between 14th - 19th Jan 2019)
13 December 2018   106

Developers of Geth, one of the most popular clients of Ethereum, presented a new version of the software with the included code of the upcoming hard fork Constantinople.

Go-ethereum (Geth) v1.8.20 assumes that hardfork in the main Ethereum network will take place at block 7,080,000.

Consensus regarding the block number for activating hard forks was reached last week during a regular video conference of leading Ethereum developers. According to Afri Shedona, release manager of another popular client of the network Parity, a block of 7,080,000 will be mined between January 14 and 18, 2019.

At the same time, Ethereum Foundation’s head of security noted that the new version of the go-ethereum client would contain a kind of “emergency switch” that would postpone the upgrade if something went wrong.

Originally scheduled for November, the Constantinople contains a number of changes and code optimizations designed to ease the transition to the Proof-of-Stake algorithm. In particular, they include the transfer by 18 months of the so-called “bomb of complexity”, which contributes to timely upgrades, and also suggests a decrease in the reward to miners from 3 to 2 ETH for the mined block.