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Vitalik’s Plan to Lay Out ETH 2.0

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Highlights:

  • Vitalik Buterin recently
    announced his plans to rollout the highly awaited ETH 2.0
  • The new update will take
    over ETH 1.0 and include some of the highly anticipated functionality

Vitalik
Buterin, founder and Chief Scientist of the Ethereum Foundation took to Ethresear.ch, a blog for the on-going
research effort in Ethereum, to communicate the organizations plan in bridging
Eth 1.0 and Eth 2.0

“It’s
theoretically possible for two competing eth2 chains to finalize the same eth1
block (this would imply eth2 has broken, but it is still theoretically
possible). More commonly, there could be two eth2 finalized blocks where one is
a child of the other, both of which support the same eth1 block, and some
miners could be aware of the more recent of the two eth2 blocks and the others
not aware.”

  • Vitalik Buterin

The
most was aimed at all the developers and users of the platform to communicate
how Eth 1.0 to 2.0’s transition. It is said that the experience of the 2.0
update will be immensely different from the current one. But to the good news
of the current, 2.0 will take over the 1.0 system rather than replace it,
allowing all previous application, protocols and code to remain intact.

The
new update will bring in better voting, increase in gas cost, and a possible
transition to the Proof-of-Stake consensus mechanism from the already existing
Proof-of-Work.

The post Vitalik’s Plan to Lay Out ETH 2.0 appeared first on Cryptoverze.

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