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Ethereum Sharding Roadmap

Vitalik Unveils Ethereum 2.0 Roadmap | Hacker News

Vitalik Unveils Ethereum 2.0 Roadmap | Hacker News

It strikes me as an (non-invested) outsider that Ethereum seems to benefit from having a figure like Vitalik who can act as a Torvalds-esque figurehead, setting the project's technical direction. And that, in contrast, the non-participation of Satoshi Nakamoto has left a power vacuum at the heart of Bitcoin, which results in the kind of bloody and attritional battles required to move it forward. Because everybody and nobody can claim to be the heir to Nakamoto's technical vision. Clearly Ethereum has had more than its share of problems, but as things stand, I feel it has a greater chance of becoming a truly disruptive technology than Bitcoin, which seems to have become stuck in a technical quagmire. > Ethereum seems to benefit from having a figure like Vitalik who can act as a Torvalds-esque figurehead If Vitalik got hit by a bus tomorrow Ether price would drop 95%. A currency does not need a leader who directs it. Also it should be very difficult to make changes to a 150 Billion $ currency. Ethereum is not a currency though. It's a decentralised platform to build apps on, like the App Store. ETH is the oil that pays for the decentralised processing resources used by said apps that are run on the platform. A platform that isn't finished needs a leader, and I would say Ethereum needs a leader a lot more than Bitcoin. If all development on Bitcoin would stop tomorrow, it would still keep running and have a potential future as digital gold. If all development on Ethereum would stop tomorrow, it would most likely fail as a project. The value proposition is very different. Also, since oil isn't very useful without something to use it in (a car, plane, other use cases), it actually makes perfect sense (to me). ETH could very well also become a functional currency once the su Continue reading >>

Ethereum Blockchain's Future With Casper And Constantinople

Ethereum Blockchain's Future With Casper And Constantinople

Ethereum Blockchain's Future With Casper And Constantinople From Casper to Constantinople and from staking to sharding, Ethereums next set of upgrades are poised to change the platform like never before. As blockchain and cryptocurrency finally make their foray into wider public awareness, core comprehension of those technologies will begin to spread faster and farther and the hype surrounding them will begin to crescendo. Decentralized systems are by nature dependent upon the network they are comprised of, so when you use the technology, you become part of growing and improving that infrastructure. As Cornell University's Emin Gn Sirer told ETHNews: "What matters, first and foremost, is a healthy community ready to evolve the underlying technology according to scientific findings, and Ethereum has that going for it in spades." So what should the Ethereum ecosystem expect moving forward into 2018 and beyond? Speaking from Taipei late last November, Vitalik Buterin outlined a new development roadmap for what he calls "Ethereum 2.0." "There isn't really a precise conception of what goes into Ethereum 2.0 and what doesn't," said the blockchain's co-founder. "Ethereum isn't a product that gets released by a company ... This is more like something that's going to end up slowly evolving over time. Even still, though, there are very major changes to Ethereum's architecture that we do expect will come over the next few years." Buterin went on to explain, "There's generally three major categories of problems that I just keep talking about every year and the reason why I keep talking about them every year is because they are big problems and they are very important problems." Although there is a significant amount of work to be done by the Ethereum Foundation and the ecosystem a 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 >>

Ethereum Founder Unveils Roadmap For Next-gen Blockchain

Ethereum Founder Unveils Roadmap For Next-gen Blockchain

Ethereum Founder Unveils Roadmap For Next-Gen Blockchain At the Beyond Block conference in Taipei, Ethereums founder, Vitalik Buterin, unveiled the plans for Ethereum 2.0, the next-generation version of Ethereum. The Ethereum network was born as an idea for next-generation cryptocurrency network, which could do far more interesting things than just financial transactions. The Ethereum network has also been called the programmable blockchain, because you could develop distributed applications (dapps) on top of it. However, the networks rapid growth in recent years has also revealed a few major issues within the network. According to Buterin, there are currently three major problems that need to be solved to push the Ethereum network to the next level: privacy, consensus safety, smart contract safety, and perhaps the biggest of them all: scalability. When Bitcoin first came out, everyone started calling its transactions anonymous, because you didnt have your name directly tied to a transaction like you do with a credit card, especially if you were using a PC wallet to transact the money, rather than a centralized exchange. However, Bitcoin and many other cryptocurrencies core technology is something called the blockchain, a distributed ledger in which all transactions and wallet addresses are inscribed. What that means is that every single transaction and its corresponding address is recorded. The blockchain is also public for most cryptocurrencies, including Ethereum, which means anyone can look up all the transactions done from a given wallet address. That wallet address could then be tied to a real persons identity if that person does any transaction that may reveal it. For instance, if the person in question transfers the money from that address to a centralized exch 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 >>

Ethereum Sharding Update Prysmatic Labs Implementation Roadmap

Ethereum Sharding Update Prysmatic Labs Implementation Roadmap

rauljordan.com | Harvard University | Thiel Fellow | Blockchain Engineer | Ethereum Protocol Developer Ethereum Sharding Update Prysmatic Labs Implementation Roadmap I am very proud to show you all what we have been up to at Prysmatic Labs over the past few weeks. If you missed the first post on why sharding matters, or a brief overview of what Prysmatic Labs is doing, take a look here and here . Back in January 2018, I planned to solidify a strong team of developers, called Prysmatic Labs, with a passion to tackle the big, scalability problem the Ethereum protocol faces. We quickly assembled our repository , got a Gitter chat together, and started grinding away at a realistic plan for a sharding implementation you will all be able to try out. Check out our comprehensive plan to implement sharding right here we have a lot on the horizon, but we just wanted to give you a sneak peek of whats to come. Our current work is focused on creating a simplified version of quadratic sharding that will include the following: A validator node with a CLI tool that deposits ETH into the validator manager contract through the command line and selects the user as a validator for a shard in a given period, in addition to the ability to withdraw the ETH staked. A collator node and crypto-economic incentive system for collators to listen to pending transactions, execute and package transactions into collations, and submit them along with a deposit to validator nodes in the network. A simple command line util to simulate pending transactions of different types posted to the local geth nodes txpool for the local collation proposer to begin proposing collation headers Ability to inspect the shard states and visualize the working system locally through the command line We are already hard at w 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 November 29, 2017, 01:19:32 PM EDT By Giulio Prisco, Bitcoin Magazine Speaking on November 25 at BeyondBlock Taipei 2017 , Ethereum inventor and co-founder Vitalik Buterin outlined his vision for Ethereum 2.0. He described major changes in Ethereum's 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 Buterin's talk. Buterin doesn't 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 Buterin's optimism. ETH's 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, it's very easy to have two of these properties but very hard to have all three. However, Ethereum's 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 Buterin's 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 [sh 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 >>

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 >>

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 >>

Vitalik Lays Out Ethereum 2.0 Roadmap In Taiwan

Vitalik Lays Out Ethereum 2.0 Roadmap In Taiwan

Vitalik Lays Out Ethereum 2.0 Roadmap In Taiwan The future of Ethereum, according to co-founder Vitalik Buterin Vitalik Buterin , co-founder of Ethereum , has laid out the future plan of the Blockchain technology-based platform at a conference in Taipei, dealing with some of the biggest problems in Ethereum and suggesting how the future might shape up. Having already provided a substantial amount of information, the new update from Buterin gives more specific details. The statement from Buterin began with a sort of tongue-in-cheek commentary on the many Ethereum replacements that have come on the market in recent months. According to the young computer scientist: The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0. Buterin continued by describing the four areas where he sees a need for improvement on the current Ethereum platform. These were privacy, consensus safety, smart contract safety and scalability. For each of the first three, the Ethereum co-founder sees a solution that is actively developing. In the area of privacy, the Byzantium hard fork has created the ability for zk-SNARKs, a solution that Vitalik sees as a viable one with continued implementation. For consensus safety, the recent development, nicknamed Casper, should bring solutions, and for smart contract safety, Viper and formal verification can produce real solutions. However, the problem of scaling is substantial. Vitalik explained that decentralization, scalability and security are a complex trifecta that can present major challenges in the future. While its relatively easy to have any two of the three creating a system where all three are functional has proven difficult. Scalability on the Ethereum, according to Buterin needs to be thousands of 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 >>

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 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 >>

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