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Ethereum Scaling Roadmap

Ethereum Scalability Research And Development Subsidy Programs

Ethereum Scalability Research And Development Subsidy Programs

Ethereum scalability research and development subsidy programs The Ethereum community, key developers and researchers and others have always recognized scalability as perhaps the single most important key technical challenge that needs to be solved in order for blockchain applications to reach mass adoption. Blockchain scalability is difficult primarily because a typical blockchain design requires every node in the network to process every transaction, which limits the transaction processing capacity of the entire system to the capacity of a single node. There are two main paths to improving blockchain scalability. The first ( sharding ) involves creating better-designed base-layer blockchain protocols, which still maintain most of the desired decentralization and security properties of a blockchain that we see in the simple designs available today but only require a small percentage of nodes to see and process every transaction, allowing many more transactions to be processed in parallel at the same time. The second involves creating layer 2 protocols that send most transactions off-chain and only interact with the underlying blockchain in order to enter and exit from the layer-2 system and in the case of attacks on the system. We view the two strategies as complementary with each other and we believe in supporting a multi-pronged strategy toward Ethereum scalability that engages both strategies and treats them as complementary with each other. Technical reading materials on Ethereum scalability technologies A note on data availability and erasure coding: Sharding preliminary spec: Video describing the strategy for incorporating sharding into Ethereum over time: With the Ethereum blockchain reaching 1 million transactions per day, and both Ethereum and other blockchai Continue reading >>

Part One Of Ethereum's Sharding Roadmap Is Nearly Done

Part One Of Ethereum's Sharding Roadmap Is Nearly Done

Part One of Ethereum's Sharding Roadmap Is Nearly Done Jan 26, 2018 at 17:10 UTC|UpdatedJan 27, 2018 at 02:39 UTC Ethereum is getting closer to deploying new technology that would allow the network to scale, its founder said. "It seems like part one of phase one is getting something like being already done," Vitalik Buterin said in a developer meeting. The technology, known as sharding,attempts to split the ethereum blockchain's data into more manageable parts. Pointing to an initial spec posted on Github, Buterin said: "It's theoretically a good spec of what minimal sharding is going to look like." Ethereum is under pressure to keep up with the rising popularity of the platform, which has led to slower transaction times and high processing fees. The congestion has already led some token-based projects to build atop other blockchains such as Stellar . Buterin went to state that the next phase of the four-stage scaling proposal will be completed in "a month and a bit," adding that development work will likely circulate on stateless clients, a type of ethereum software that does not need to process the complete history of the platform. "Then from there we're going to try and shard it into a working test, a kind of test network," the ethereum founder said. In the meeting, Buterin also reflected on Casper, ethereum's new consensus protocol that is currently in testing. As detailed by CoinDesk , the test network has been derailed by issues with the software it deploys. However, Buterin said that in spite of hiccups, the core of the project is sound, or as he put it: "the Casper aspect of Casper... is totally successful." Still, with the code yet to be adapted for use across different ethereum software clients, he acknowledged: "That's on a bit of a back burner for now." The Continue reading >>

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap Speaking on November 25 at BeyondBlock Taipei 2017 , Ethereum inventor andco-founder Vitalik Buterin outlined his vision for Ethereum 2.0. He described major changes in Ethereums architecture that are likely to be implemented over the next few years to improve Ethereum in terms of privacy, safety (consensus safety and smart contract safety) and, of course, scalability, which was the main focus of Buterins talk. Buterin doesnt seem worried about competitors. The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0, he said. The fact that Ethereum is booming seems to confirm Buterins optimism. ETHs price has been relentlessly climbing, recently reaching almost $500, and Ethereum is handling more transactions than all other major blockchains combined. Decentralization, scalability and security are among the important properties that blockchain systems should have, but there are conflicts. Off-chain solutions are useful, but limited. According to Buterin, its very easy to have two of these properties but very hard to have all three. However, Ethereums ambitious goal should be that of achieving all three at the same time. We want to scale to thousands of transactions per second, on chain, without any supernodes, reads one of Buterins slides. Sharding dividing a blockchain network into several smaller component networks (called shards) capable of processing transactions in parallel is considered to be a promising way to achieve high throughputs comparable to the thousands of transactions per second of traditional payment networks such as Visa and MasterCard. You can think of [sharding] as, in a fairly simple version, creating a blockchain where you have, lets say, Continue reading >>

Ethereum Foundation Announces Subsidised Scaling Research Programs

Ethereum Foundation Announces Subsidised Scaling Research Programs

In using this website you are deemed to have read and agreed to the following terms and conditions: The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and any or all Agreements: "Client", You and Your refers to you, the person accessing this website and accepting the Companys terms and conditions. "The Company", Ourselves, We and "Us", refers to our Company. Party, Parties, or Us, refers to both the Client and ourselves, or either the Client or ourselves. All terms refer to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to the Client in the most appropriate manner, whether by formal meetings of a fixed duration, or any other means, for the express purpose of meeting the Clients needs in respect of provision of the Companys stated services/products, in accordance with and subject to, prevailing English Law. Any use of the above terminology or other words in the singular, plural, capitalisation and/or he/she or they, are taken as interchangeable and therefore as referring to same. We are committed to protecting your privacy. Authorized employees within the company on a need to know basis only use any information collected from individual customers. We constantly review our systems and data to ensure the best possible service to our customers. Parliament has created specific offences for unauthorised actions against computer systems and data. We will investigate any such actions with a view to prosecuting and/or taking civil proceedings to recover damages against those responsible. We are registered under the Data Protection Act 1998 and as such, any information concerning the Client and their respective Client Records may be passed to third parties. However, Cli Continue reading >>

Buterin Unveils Ethereum 2.0 Roadmap As Coin Nears $500

Buterin Unveils Ethereum 2.0 Roadmap As Coin Nears $500

In using this website you are deemed to have read and agreed to the following terms and conditions: The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and any or all Agreements: "Client", You and Your refers to you, the person accessing this website and accepting the Companys terms and conditions. "The Company", Ourselves, We and "Us", refers to our Company. Party, Parties, or Us, refers to both the Client and ourselves, or either the Client or ourselves. All terms refer to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to the Client in the most appropriate manner, whether by formal meetings of a fixed duration, or any other means, for the express purpose of meeting the Clients needs in respect of provision of the Companys stated services/products, in accordance with and subject to, prevailing English Law. Any use of the above terminology or other words in the singular, plural, capitalisation and/or he/she or they, are taken as interchangeable and therefore as referring to same. We are committed to protecting your privacy. Authorized employees within the company on a need to know basis only use any information collected from individual customers. We constantly review our systems and data to ensure the best possible service to our customers. Parliament has created specific offences for unauthorised actions against computer systems and data. We will investigate any such actions with a view to prosecuting and/or taking civil proceedings to recover damages against those responsible. We are registered under the Data Protection Act 1998 and as such, any information concerning the Client and their respective Client Records may be passed to third parties. However, Cli Continue reading >>

Vitalik Unveils Ethereum 2.0roadmap

Vitalik Unveils Ethereum 2.0roadmap

How Ethereum plans to address current problems in theprotocol Vitalik publicly reveals plans for Ethereum 2.0. Credits to the organizers of BeyondBlock Taipei 2017 for thephoto. On behalf of the entire team at COBINHOOD , we are honored to be part of Beyond Block Taipei 2017 , where we were able to stand alongside and exchange ideas with our peers in the Ethereum community. Most significant, perhaps, was the unveiling of the roadmap for Ethereum 2.0 by Vitalik Buterin, co-founder of Ethereum. Below is a short takeaway from his talk, followed by a short introduction to COBINHOOD (in case you dont know who we are yet ). During Vitaliks talk, who was the final speaker during the event, he started off by sharing the most significant problems Ethereum needs to solve and how these issues can be addressed with the introduction of Ethereum 2.0. He began by noting that Ethereum will be evolving over time, and 2.0 will lay the groundwork for what the protocol will look like in the future. In essence, Ethereum 2.0 will advance the core model of the protocol through sharding, which, to paraphrase his words, sharding is like creating a blockchain with a hundred different universes with different account spaces in each universe. But these universes are not just separate blockchains, according to Vitalik, they are systems that are interconnected with one another, which also share consensus. Sharding is also seen to provide quadratic scalability. Note that, the shards will create new address space and will not be affecting existing address space which gives us a unique opportunity to make many important (but backward incompatible!) changes to the protocol, stressed Vitalik. So, claimed Vitalik, in order to break one of these shards, you have to break the whole thing. Apart from this, Continue reading >>

Sharding, Raiden, Plasma: The Scaling Solutions That Will Unchainethereum

Sharding, Raiden, Plasma: The Scaling Solutions That Will Unchainethereum

Sharding, Raiden, Plasma: The Scaling Solutions that Will UnchainEthereum And how REX is positioned to grow with the blockchain of tomorrow Cryptocurrency heavyweights such as Bitcoin and Ethereum are beginning to garner the attention of mainstream media in thanks largely to their monstrous rise in value over the past year. This coverage has piqued the interest of people all over the world who are eager learn more about the underlying technology and how to get involved. However, it also raises concerns of scalability growing the capacity of blockchain networks to handle the massive influx of traffic that comes alongside mainstream adoption one of the biggest challenges facing blockchain technology today. In our previous blog post , we discussed how the current throughputs of Bitcoin and Ethereum are limited, which results in a backlog of unconfirmed transactions when their networks are at full capacity. This issue was laid front and center just this week, and provides a perfect example of the challenges facing the extreme growth of blockchain technology CryptoKitties, a recently launched dApp upon which users trade virtual kittens, went viral and tested the networks capacity, providing essential scaling data and a valuable case study for Ethereums viability in asset management, and for the Ethereum blockchains current transactional capabilities. In the span of four days,CryptoKitties went from accounting for 3% of all Ethereum transactions to 11.77%. This resulted in transaction backlogs, network delays and higher gas fees. Real estate, a 217 trillion dollar global asset class, will be among the largest industries to benefit from the blockchain. However, blockchain technology will struggle to reach its full potential if it fails to overcome this obstacle and facilitate Continue reading >>

Ethereum's Co-founder Just Unveiled His Plan For The Future Of Cryptocurrency

Ethereum's Co-founder Just Unveiled His Plan For The Future Of Cryptocurrency

The next Internet? Blockchain is even bigger than that. We met with top experts around the world to break it down. Posted by Futurism on Wednesday, October 11, 2017 For Buterin, the most probable solution is a technical improvement he calls sharding or the partitioning of data into subsets, where each node would only have to store a small part of the entire Ethereum network. The idea has been around for a while now, and it looks good in theory. Each node is able to, supposedly, rely on other nodes for data to keep the entire system accountable despite being kept in subsets. For sharding to work and keep the network secure by preventing nodes form sending false information to other nodes, Buterin proposed a new sharding infrastructure thats different from other ideas developers have been considering. The new proposal involves partitioning Ethereum into different types of shards, where the main shard would be the current Ethereum network, and other shards (which Buterin called other universes) would hold other transactions. Other universes where all this stuff weve been working on these last few years can be rolled out much much faster, Buterin said, according to Coindesk. This means changes can be easily implemented on these other shards, while keeping the main Ethereum network secure and intact. Difficulties in scaling were a contributing cause of Bitcoins recent blockchain troubles, meaning solving the scalability problem is of the essence for other cryptocurrencies in the market who want to avoid a similar fate. Apart from sharding, Buterin also presented a number of other improvements as part of Ethereums new roadmap. There would be upgrades to the ethereum virtual machine (EVM), which is the technology that compiles smart contracts. Then theres project eWASM, which Continue reading >>

Sharding Faq Ethereum/wiki Wiki Github

Sharding Faq Ethereum/wiki Wiki Github

Currently, in all blockchain protocols each node stores all states (account balances, contract code and storage, etc.) and processes all transactions. This provides a large amount of security, but greatly limits scalability: a blockchain cannot process more transactions than a single node can. In large part because of this, Bitcoin is limited to ~3-7 transactions per second, Ethereum to 7-15, etc. However, this poses a question: are there ways to create a new mechanism, where only small subset of nodes verifies each transaction? As long as there are sufficiently many nodes verifying each transaction that the system is still highly secure, but sufficiently few that the system can process many transactions in parallel, could we not use such a technique to greatly increase a blockchain's throughput? What are some trivial but flawed ways of solving the problem? There are three main categories of easy solutions. The first is to simply give up on scaling individual blockchains, and instead assume that users will be using many different altcoins. This greatly increases throughput, but comes at a cost of security: an N-factor increase in throughput using this method necessarily comes with an N-factor decrease in security. Hence, it is arguably non-viable for more than small values of N. The second is to simply increase the block size limit. This can work and in some situations may well be the correct prescription, as block sizes may well be constrained more by politics than by realistic technical considerations. But regardless of ones beliefs about any individual case such an approach inevitably has its limits: if one goes too far, then nodes running on consumer hardware will drop out, the network will start to rely exclusively on a very small number of supercomputers running Continue reading >>

Ethereum Roadmap 2018: What To Expect In 2018 - Ethereum Noobs

Ethereum Roadmap 2018: What To Expect In 2018 - Ethereum Noobs

Ethereum Roadmap 2018: What to Expect in 2018 - Ethereum Noobs There is no doubt that 2017 was the year of Bitcoin. The popular cryptocurrency hit $20,000 only a month after it achieved five figures for the first time in history, and the launch of Bitcoin futures has helped legitimize Bitcoin as a form of investment by attracting institutional and professional traders. But the year 2017 is now officially over, and many believe that 2018 will be the year of Ethereum. Unlike Bitcoin, which has assumed the role of digital gold, Ethereum has much more potential applications, attempting to become a decentralized world computer capable of executing smart contracts. For Ethereum to reach its full potential, the blockchain-based distributed computing platform first needs to undergo several large upgrades which address its current shortcomings. One such upgrade activated on October 16, 2017, at block 4,370,000 of Ethereums blockchain. The upgrade is called Byzantium, and it is the first half of the Metropolis stage, which is intended to make Ethereum lighter, faster, and more secure. The second half of the Metropolis stage is called Constantinople, and it should activate early in 2018. Constantinople should introduce Casper, a major protocol upgrade designed to transition Ethereum to a new method for reaching consensus: proof-of-stake (PoS). Casper is a partial consensus mechanism combining proof-of-stake algorithm research and Byzantine fault-tolerant consensus theory, describes Casper Vitalik Buterin, the founder of Ethereum. Right now, the consensus in Ethereum is achieved by a proof-of-work (PoW) system. Just like Bitcoin, Ethereum uses the system to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service re Continue reading >>

A 2020 Roadmap For Ethereum

A 2020 Roadmap For Ethereum

The ethereum killer is ethereum, the ethereum of China is ethereum, the ethereum of Taiwan is ethereum 2.0. This was the opening statement from Ethereum founder Vitalik Buterin at a recent blockchain conference in Taipei where he laid out the future plans for the platform. The comment was in reference to the recent flurry of new altcoins claiming to be Ethereum replacements. He went on to discuss four areas of improvement for the blockchain software, some of which are already being tackled with hard forks and one which still poses difficulty for expansion of the network. Privacy, consensus safety, smart contract safety and scalability were the areas that needed improvement, stated Buterin. Solutions for the first three have already been envisaged however scalability remains harder to tackle. New cryptographic algorithms including zero-knowledge proofs and ring signatures were introduced with the recent Byzantium hard fork. These give programmers the tools to build solutions to privacy issues which are three quarters solved according to Buterin, with the final quarter at the protocol level. Partial privacy was tackled by Byzantium which introduced zk-Snarks that enable someone to hide a transaction from everyone else but also decide who to show it to at the same time. Consensus safety issues will be handled by the forthcoming Casper update and smart contract safety is to be included in a later Viper update. The final and toughest issue to solve is scalability. Three factors of decentralization, security, and scalability need to operate together but currently one has to be sacrificed, getting two to work is not a problem. At the moment Bitcoin and Ethereum blockchains are foregoing scalability in favor of decentralization and security. Increasing the block size would inc Continue reading >>

Vitalik Buterin Lays Roadmap For Ethereum Visa Levels Quadratic Sharding

Vitalik Buterin Lays Roadmap For Ethereum Visa Levels Quadratic Sharding

Vitalik Buterin Lays Roadmap for Ethereum Visa Levels Quadratic Sharding The ethereum killer is ethereum, the ethereum of China is ethereum, the ethereum of Taiwan is ethereum 2.0. That was the opening statement of Vitalik Buterin, Ethereums inventor, at BeyondBlock in Taipei where he laid out a plan to reach Visa levels scalability within the next 3-5 years. The main problems facing ethereum are privacy, safety and scalability, he said. With privacy being 3/4th solved, according to Buterin who was wearing a Byzantium t-shirt, referring to the latest ethereum hardfork. That upgrade introduced some fairly fancy new cryptographic algorithms, Buterin says, including zero-knowledge proofs and ring signatures which dont solve the privacy problem on their own but can give coders tools to build solutions. From a base layer perspective, the privacy problem is three quarters of the way to being solved, he said. The one quarter that isnt solved theres still leaks at the protocol level. If you use a mixer and pay for gas there may be privacy leaks, but most of the work from here is at layer 2 he says. Suggesting base layer privacy has been solved, at least conceptually, by zk-Snarks which give you the ability to hide a transaction from all at the same time as allowing you to choose who you wish to show that transaction. Safety, of course, isnt a problem you solve, only minimize or maximize as may be the case. But one problem that could be solved is scalability. However its a hard problem due to the trilema of decentralization, security, and scalability. Having two out of three is easy he says, providing examples of current solutions that have made that two out of three trade-off: Existing blockchains, like Ethereum and Bitcoin in their current state, sacrifice scalability, he say Continue reading >>

Ethereum Explores A Fix For Blockchain's Performance Problem

Ethereum Explores A Fix For Blockchain's Performance Problem

Ethereum explores a fix for blockchain's performance problem The Ethereum Foundation is seeking outside developers to help solve a performance issue native to blockchain its inability to sufficiently scale. Use commas to separate multiple email addresses The creator of the open-source blockchain platform Ethereum is exploring ways to fix an innate issue with the technology - the inability for processing capacity to effectively scale. And the Ethereum Foundation is seeking outside developers to help solve the scaling problem. Ethereum and Hyperledger are the world's leading blockchain platforms and the basis for a myriad number of applications , from cryptocurrencies such as Ethereum's Ether to "smart" or self-executing online contracts . [ Related: The top 5 problems with blockchain ] While open and efficient because all transactions in the peer-to-peer distributed ledger technology can be seen in real time, one performance problem has been that every entry on a blockchain requires every node to process it . This has the potential to slow transactions such as payments. Due to its chain nature, each new record inserted into a blockchain has to be serialized, which means that the rate of updates is slower than traditional databases, which can update data in parallel. "This expensive and slow process is justifiable for a global network where all participants are potentially malicious," Bharath Rao, founder of Ethereum exchange Leverj, said in an earlier interview with Computerworld. "In a corporate environment, where all participation is controlled, it does not make sense to spend a lot of energy and time for essentially no additional benefit." While requiring all nodes (servers) to process each transaction makes blockchain natively resilient to cyberattacks as hundreds o Continue reading >>

Major Ethereum Scaling Solution Casper To Enter Testnet Soon

Major Ethereum Scaling Solution Casper To Enter Testnet Soon

Major Ethereum Scaling Solution Casper to Enter Testnet Soon Lane Rettig, an Ethereum researcher, and founder at CryptoNYC, New Yorks first blockchain-focused coworking space and app studio, has revealed that the Casper FFG testnet will launch soon, and moves closer to being implemented onto the Ethereum blockchain network. Casper FFG is a solution introduced and developed by Ethereum co-founder Vitalik Buterin; it utilizes a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus protocol to minimize mining and further scale the Ethereum network at an exponential rate. Casper FFG testnet is coming. We've got a three-node network working with two validators. Still a few bugs to work out. Whitepapers are cool and all but seeing this come to life is amazing. #ethereum #research @karl_dot_tech @VitalikButerin @changwu_tw pic.twitter.com/VlHAFMmRXi Lane Rettig (@lrettig) November 28, 2017 In a research paper, Christian Reitwiessner, the team lead for Ethereums Solidity and C++ implementations, explained that reaching scalability at a large capacity on the Ethereum network is only possible when users are not required to verify every single data point settled by the system. Reitwiessner explained : Scalability does not come from the fact that blockchains are relieved from their load by creating a big number of smaller chains and moving the transactions there. Scalability is only achieved once a user does not have to verify every single transaction that is sent to the system. The first step taken by the open-source community of Ethereum towards achieving high capacity scalability on the Ethereum network is to decrease transaction capacity for Ether payments. Following this decrease, developers will then implement Zcashs sk-SNARKs implementation in its latest Byzantium h Continue reading >>

The Beginners Guide To Ethereums Roadmap

The Beginners Guide To Ethereums Roadmap

The Beginners Guide to Ethereums Roadmap Ethereums mission is to become a decentralized world computer that replaces server farms. Think of it as a single computer that the whole world can use. It cant be shut down or turned off. As an overview, heres a beginners guide to Ethereum and an explanation of how it technically works . If Ethereum is a computer, then each one of these updates can be looked at as an operating system (OS). Similar to Google launching Android Oreo or Apple launching iOS 10, Ethereum is launching in four stages. Each stage adds new features and improves the user friendliness and security of the platform, while allowing Ethereum to scale. Frontier (July 2015) First live release of the Ethereum network. It allowed developers to experiment, mine Ether, and begin building dApps and tools. Homestead (March 2016) First production release of Ethereum that brought many protocol improvements which lay the foundations to future upgrades and for speeding up transactions. Metropolis (Oct 2017) Lighter, faster and more secure Ethereum broken down into two releases: Byzantium (Oct 2017) and Constantinople (TBA) Serenity (TBA) Will bring us the long-awaited Proof of Stake using the Casper consensus algorithm. All of these updates will help Ethereum scale, which means faster transaction times and lower fees for everyone. As you can see, the Ethereum team has done a great job of scaling transactions. Metropolis promises to be a lighter, faster and more secure version of Etherem. It will also provide greater flexibility to smart contract developers. Metropolis will be split into two core releases: Byzantium and Constantinople. The first hard fork (Byzantium) took place in October . The second hard fork (Constantinople) does not have a set date yet but is expected Continue reading >>

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