Vitalik Buterin made a prediction about the completion of Ethereum 2.0. Speaking of Bankless YouTube Channel, Buterin mention on a variety of topics including personal preference, maximalism, and layer-1.
The main topic of the interview revolved around the development of Ethereum 2.0, in particular the blog post “Endgame”, which he published at the beginning of December last year. The article showed a logical way to realize his vision of a censorship-resistant and trustworthy chain.
Buterin discussed the updated Ethereum 2.0 roadmap.
Ethereum 2.0 roadmap
On December 1, 2021, the anniversary of the Beacon Chain launch, Buterin tweeted with an updated roadmap. Currently the roadmap is broken down into five distinct phases including The Merge, The Surge, The Rande, The Purge and The Splurge.
Happy birthday beacon chain!
Here is an updated roadmap diagram of where the Ethereum Protocol is evolving and what’s coming in which order.
(I’m sure this, like all diagrams, is missing a lot, but it covers a lot of important things!) pic.twitter.com/puWP7hwDlx
– vitalik.eth (@VitalikButerin) December 2, 2021
The merger refers to the convergence of two parallel Ethereum chains. This event marks the transition from the proof-of-work to the proof-of-stake chain.
The increase includes the increase in scalability through rollup and sharding.
Rollups are scaling solutions that carry out transactions outside the main chain, but with evidence of the transactions on Layer-1. Sharding can be thought of as dividing traffic into 64 new chains to distribute the load on the network.
On the side, it’s about stateless clients, Ethereum’s scaling method to reduce the state size, which makes node operations much more efficient. This is related to the purge phase, which aims to improve node efficiency by removing historical data.
“New accounts are constantly being added and new smart contracts are being implemented. Therefore, the size of the state of Ethereum by design is constantly increasing. “
Finally, The Splurge shows off all the extras, including the built-in censorship resistance.
How far has Ethereum 2.0 been deployed?
When asked to categorize the progress of the roadmap, Buterin said the project was now halfway through. He also said that once the merge phase is complete, the network will be 60% complete and the 80% mark will be exceeded once the sharding is fully implemented.
According to Consensys, the merger should take place in Q1 / Q2 of this year. But the difficulty bomb delay suggests this stage may not go as planned.
The difficulty bomb will make it harder and harder to mine ETH until the profit from mining is insufficient to cover the costs. This process is said to be phased out by the miners, but it is unclear how long it will take.
Buterin mentioned that all five phases of the roadmap are being worked on in parallel with a clear separation between the phases.
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