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It became known about the plans of Vitalik Buterin to implement Ethereum 2.0

26.10.2019

During the annual Devcon developer conference, the creator of the cryptocurrency ETH published five articles on his blog. In them, he talked about the problems of Ethereum, methods of solving them and the transition to the 2.0 version of the system.

According to the plans for the implementation of Metropolis updates, the initial start of Ethereum 2.0 should take place as early as January 3, 2020, if the last hard forks are not transferred. The global transformation of the system is primarily necessary for the transition of cryptocurrency to the Proof-of-Stake consensus system. This algorithm will eliminate the possibility of a 51% attack and stop traditional mining of ETH coins.

The published articles have become very popular both in the Ethereum community and among all crypto enthusiasts. In them, Buterin describes the known vulnerabilities of the digital currency and how to fix them:

Ethereum and Ethereum unification time 2.0. Initially, the Beacon chain system, which will do all the work on the Ethereum 2.0 network, will operate in a centralized manner. Because of this, certain difficulties will arise with the unification of the two systems. The full integration of the PoW blockchain into the PoS network will only take place in a few years. Most developers believe that this will not prevent the two networks from running in parallel.
Transactions cannot be performed atomically. For different decentralized applications, Ethereum 2.0 will split the transaction load into different shards. Therefore, dApps developers will not be able to conduct transactions between them directly, as it was before. This complicates the programming of such applications, but does not affect the overall usability and popularity of the system.
Moving coins between two versions of Ethereum. Due to the fact that the structure of the two versions of the Ethereum network will be different, this will not allow users to move their ETH between the networks. This opportunity will appear after combining the two algorithms and creating a bridge. Vitalik Buterin says that in the short term, after the introduction of version 2.0, users will be able to transfer their coins to the new architecture.
Increased commissions for developers on the new network. PoS coin transactions will be stored differently. All information about a specific state in the blockchain is stored locally, so dApp developers will have to request more information when deploying applications. According to the creator of Ethereum, this problem can be easily solved by regulating the number of witnesses and the amount of gas spent.
Ethereum 2.0 is throughput will be half what was planned. In the last article, Vitalik suggested using 64 shards in the network instead of 1024. This will simplify development and greatly speed up communication between different blocks of Ethereum 2.0, and reduce the number of vulnerabilities. In this case, the total network bandwidth will be lower than with 1024 shards.
Despite the creators statement, development of the second version of ETH is still ongoing. Even after the start of the zero stage of implementation, many things will be finalized and added to the initial project. Therefore, it is too early to talk about specific network parameters.

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