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Ethereum Sharding Release

Buterin Lays Out Ethereum's Next 3-5 Years, Explains Sharding

Buterin Lays Out Ethereum's Next 3-5 Years, Explains Sharding

Buterin Lays Out Ethereum's Next 3-5 Years, Explains Sharding Vitalik Buterin, the founder of the Ethereum blockchain, recently discussed the platforms three-to-five-year plan, highlighting the strategy of increasing privacy and boosting scalability through sharding. On November 25, Ethereum founder Vitalik Buterin addressed a crowd at the conference Beyond Block Taipei, where he discussed many of the blockchain platform's goals for the next three to five years and described some of the ways that he and his colleagues intend to achieve them. He began his talk, entitled "Ethereum 2.0," by noting that the term does not refer to a specific set of updates, but rather to ongoing efforts to improve the platform's performance in areas including privacy and scalability. "Blockchains are public ledgers," he explained, a format which is advantageous in the sense that, "you have lots of nodes verifying data, but on the other hand, blockchains have lots of nodes seeing data." Developers have identified many avenues through which to resolve this paradox and ensure privacy, including "mixers," " state channels," and "some kind of higher-tech cryptographic alternatives." The recent Byzantium hard fork, he reported, enhanced Ethereum's ability to support cryptographic algorithms like "zero-knowledge proofs [and] ring signatures that don't fully solve the privacy problem on their own, but give us some very powerful tools on top of which we can start building the solutions." According to Buterin, the privacy issue is "3/4 of the way to being solved" on the base layer, while more work remains to be done on second layer blockchains. Another Ethereum shortcoming that the young founder acknowledged was proof-of-work mining's stunningly inefficient use of energy. PoW bitcoin mining currently Continue reading >>

Ethereum's Vitalik Buterin Deletes Tweet About Sharding, Community Buzzes

Ethereum's Vitalik Buterin Deletes Tweet About Sharding, Community Buzzes

Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts With the specter of congestion on the Ethereum network growing, any updates or comments pertaining to sharding will unsurprisingly cause a stir. Thats precisely whats happened as Buterin just tweeted, and thereafter deleted, a new remark on a sharding testnet potentially being publicly available soon. In a threaded conversation about Twitter competitor leeroy.io, Buterin wrote: I hope they can participate in the sharding testnet soon when its ready; theyre one of the first apps that could easily benefit from it :) Buterin wasted little time in deleting the comment, though, for reasons not immediately clear. Presumably he retracted the statement to tamp down on any unrealistic hype around sharding, which is likely still a ways off. Conversely, it took little time for Ethereum forums like r/ethtrader to burst with users acknowledging theyd seen the tweet with their own eyes. More have heard of sharding than know what it is. Its important to note here that sharding is not some monolithic system, but rather a series of ideas that are being experimented with. As the GitHub Sharding FAQ explains, though, there is a general gist of what sharding could look like when completed: For example, a sharding scheme on Ethereum might put all addresses starting with 0x00 into one shard, all addresses starting with 0x01 into another shard, etc. In the simplest form of sharding, each shard also has its own transaction history, and the effect of transactions in some shard k are limited to the state of shard k. One simple example would be a multi-asset blockchain, where there are K shards and each shard stores the balances and processes the transactions associated with one particular asset. I Continue reading >>

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 >>

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 >>

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 >>

How Will A $100 Mln Grant Help Ethereum Scale?

How Will A $100 Mln Grant Help Ethereum Scale?

How Will a $100 Mln Grant Help Ethereum Scale? A $100 mln grant created by six large-scale Blockchain projects is expected to speed up the development of scaling solutions for the Ethereum Blockchain network. On Feb. 16, six large-scale Blockchain projects OmiseGo, Cosmos, Golem, Maker and Raiden, that have completed successful multi-million dollar initial coin offerings (ICOs) last year, along with Japanese venture capital firm Global Brain have created the Ethereum Community Fund (ECF), to fund projects and businesses within the Ethereum ecosystem. The ECF will begin with $100 mln, likely raised by the six Blockchain projects. Some members of the Ethereum Foundation including Ethereum creator Vitalik Buterin plan to advise the fund. Buterin told TechCrunch : Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished. Delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help to make that possible. Buterins personal goal of funding open-source projects In September 2017, Buterin revealed that his advisor shares from $1.8 bln project OmiseGo and $370 mln decentralized cryptocurrency exchange Kyber Network will be allocated in a private fund to finance open-source projects building innovative technologies such as scaling solutions for the Ethereum Blockchain network. Buterin emphasized that he will no longer advise any other Blockchain project apart from OmiseGo and Kyber Network and that all of the incentives he received from the two Blockchain projects will be used to improve the Ethereum protocol. At the time, Buterin said : I'm announcing that 100% of my OmiseGo + Kyber Network advisor shares will be either donated to 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 >>

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 >>

Q4 Roundup - Ethereum Blog

Q4 Roundup - Ethereum Blog

Ethereum has grown very rapidly in the last few months. Transaction volume on the blockchain has more than doubled , surpassing 10 transactions per second for days at a time. The number of new accounts created per day passed 100,000 , and the number of nodes has increased despite rising system requirements. As attention and interest in the blockchain space as a whole continues to hit new highs, we are entering a new phase in the industrys growth: the phase where we are finally going from experiments and tests to real, live applications. A Casper proof of stake testnet based on pyethereum has been released. Various simplifications to the algorithm, including the reduction to one message type, have been finalized (also updated the accountable safety proof in Isabelle). The Casper FFG basics paper has been released. See presentations (i) and (ii) from Karl Floersch on Casper FFG, and (iii) from Jon Choi on cryptoeconomics; see also this explainer of Casper by Jon Choi. A specification of version 1 of sharding has been released: . Development of the sharding client has moved from pyethereum to py-evm . All of the different components, including account abstraction , the new transaction format , access list restrictions, the binary trie , and the shard watching and validating algorithm, are in the process of being developed. See presentation from Hsiao-Wwei Wang on sharding. Sharding implementation is underway in the sharding branch . JSON-RPC server implementation underway . Light Client development continues. You can now run a minimalistic light node . We merged 12 EIPs since the last roundup. We received a contribution from Sidney Amani and his colleagues at Data61 that reduces the number of reasoning steps in EVM code verification. Fixed a bug in Bamboo related to JSON Continue reading >>

Ethereum Will Soon Test Sharding Tech To Fix Scaling Issues, Vitalik Buterin Hints

Ethereum Will Soon Test Sharding Tech To Fix Scaling Issues, Vitalik Buterin Hints

Vitalik Buterin has made it clear that designing more efficient scaling solutions is one of the biggest challenges for the Ethereum blockchain and it seems the company is gearing up take on this hurdle head-on. Buterin has indicated the company will soon begin testing its new scaling tech better known as sharding . Talking about the cryptocurrency scam epidemic on Twitter, the young co-founder strongly hinted that Ethereum is close to launching its sharding testnet. While Buterin did not offer a clear timeline, he said that Leeroy a decentralized Twitter rival will be a suitable candidate for the experiment. I hope they can participate in the sharding testnet soon when its ready, the founder responded to a comment asking about a verified Twitter on the blockchain. Buterin has since purged the tweet, but you can still see the full response here: Buterin and lead developer Nick Johnson have often stressed the central role sharding could play in Ethereums plan to move from proof-of-work to proof-of-stake system for verifying transactions on its network. During a talk in Taipei in November last year, Buterin laid out the companys intention to reach Visa levels of scalability within the next three to five years, as reported by Trustnodes. Sharding was painted as a crucial part towards accomplishing this goal. For context, Visa processes upward of 1,500 transactions per second, while Ethereum roughly handles between 10 and 30. The way Ethereum is currently setup requires that a transaction is verified by every single validator on the blockchain, which makes the network inherently more secure but also significantly slower. Sharding basically splits the network into small partitions known as shards, with each piece containing its own independent state and transaction history. 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 >>

Update On The Ethereums Casper Pos Hybrid And Sharding

Update On The Ethereums Casper Pos Hybrid And Sharding

All seems to be going well for development at the worlds second most valuable cryptocurrency. The team at the Ethereum foundation is actively busy testing the latest featured of the Metropolis upgrade . One of the most important of these features was the movement from Proof-of-Work mining to Proof-of-Stake. Ethereum has been working on a hybrid between the two solutions that has aptly been named the Casper POS protocol . This has been on the Testnet and has been running for a few weeks already. According to Vitalik Buterin who is the founder of Ethereum: The Casper aspect of Casper, where two conflicting blocks should not be able to be finalized, seems to actually happen running and the network agrees all along what the final chain is Although the Casper Hybrid has been running in the testing environment, it has not been without a few problems. Apparently the nodes losing their connection and get floods of new connections so the developers have had to institute clever hacks to get around this. This means that the Ethereum developers will have to complete quite a bit more testing before there can be any sort of live implementation of the protocol. However, according to Buterin it seems as if the most important part of the upgrade is indeed effective. This is the manner in which conflicting nodes are able to reach a network consensus. With the minor reconnection issues corrected, it is entirely possible that we could see Casper hitting the Mainnet by the middle of the year. There has also been quite a lot of work that has been done on the sharding side. This is arguably one of the most important updates to blockchain technology ever as it aims to markedly decrease transaction times. Blockchain sharding uses parallelisation of blockchains. This will eliminate the ineffici 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 >>

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 >>

Ethereum Makes Progress On Sharding

Ethereum Makes Progress On Sharding

It has been a wild few weeks for cryptocurrencies, particularly since the recent fall was not met by the sharp rally that many crypto enthusiasts have come to expect. Ethereum, however, has remained comparatively rather stable around the $1,000 mark, though this is still considerably below the all-time high of $1,400 that was achieved before the fall in prices. Despite this comparative stability, Ethereums developers are under pressure to scale the network. Towards the end of last year, this problem became evident when the popularity of the Cryptokitties game managed to severely hamper transaction speeds on the network. Consequently, some developers are turning to other blockchain platforms such as Cardano and Stella for their lower fees and scalability prospects. Vitalik Buterin , Ethereums founder and one of cryptocurrencies leading figureheads, recently announced that the platform is close to implementing a scaling solution. The solution is called sharding and basically splits the main Ethereum blockchain into smaller chains called shards that are validated by groups of nodes that can communicate with the main chain node. If that sounds complicated, well it is. Buterin said that phase one [of shardings implementation] is getting something like being already done; there are a further three phases. He expects the second phase to be completed in a little over a months time. Sharding is not the only Ethereum scaling solution that is currently in the works. The Raiden network, which is an off-chain solution for improving payment speeds across the network, is also under development. Raiden works by transacting parties having opening a payment channel with a specific smart contract, and deploying enough Raiden tokens in the channel to cover a the pre-agreed series of payme Continue reading >>

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