Ethereum co-founder reveals his vision for ETH 2.0

Where to buy Ethereum (ETH)

Ethereum’s pending upgrade, popularly known as Ethereum 2.0, has been in the works for years now, and the developers were finally able to start implementing it about a year ago. However, the process is slow and lengthy, and still not done, even now.

But, many still anticipate its full release and follow every move that the developers are making with great interest. This is why the project’s co-founder, Vitalik Buterin, recently published his own vision for the ETH 2.0 plausible roadmap, essentially revealing what he imagines it might be like once it finally arrives in full.

Buterin presented a future where Ethereum (ETH/USD) — still the largest smart contract platform in the crypto industry — can boost its scalability and meet the highest standards for censorship resistance and trustlessness.

Buterin’s new idea

Buterin published a blog post yesterday, December 6th, under the title “Endgame.” In it, he presented a thought experiment for how a big blockchain, defined by high block frequency, thousands of transactions, and high block size, can still be considered trustless and censorship-resistant.

Usually, this level of scalability comes at a price, and the price is centralization. However, Buterin then provided a solution that does not address the centralization issue itself but offers a roadmap for the implementation.

Buterin suggested the introduction of a second tier of staking that would use low amounts of resources for carrying out distributed block validation. With the updates he suggested, it would be possible to create a chain where block production remains centralized, but the block validation is trustless and highly decentralized. More than that, it would have a specialized anti-censorship feature that would prevent block producers from censorship.

Finally, he concluded by sayings that there is a high probability that the block production would remain centralized regardless of what path to scalability the project takes. However, his solution offers to make certain parts of the process decentralized, which is still a step in the right direction.

The post Ethereum co-founder reveals his vision for ETH 2.0 appeared first on Invezz.

Publication date: 
12/08/2021 - 05:00
Author: 
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.