ETH developers took a long time to bring Ethereum 2.0 into the world. Now that this is done, they need to make sure the baby is growing up well. Vitalik Buterin brings another update to the project roadmap. The current version of Ethereum (ETH) is still around for a while.
Phase 0, launched: let’s move on!
That’s it, the beacon chain is launched: Ethereum 2.0 has been online since December 1, 2020. Vitalik Buterin released an update to the project roadmap.
The design ofEthereum 2.0 should be carried out in phases. Phase 0 consists of the installation of the essential elements of the infrastructure via the beacon chain.
Phase 1 will introduce features such as data sharding and increase storage capacity without impacting application performance.
Phase 2 will introduce transaction sharding, and theoretically allow processing of thousands of transactions per second.
The updated roadmap version is more fluid and eliminates phase 1 or phase 2 terminology.
The functionalities of each phase are more independent of each other; they incorporate achievements ofEthereum 1.x.
We are far from over!
The next major step includes the move to Proof of Stake, the introduction of light clients Eth2 sure Eth1 and data sharding – these elements are part of phase 1 and 1.5 in the previous roadmap.
These 3 elements can be developed independently of each other. In terms of scalability, the last 2 components can bring significant improvements by hosting rollups on a fragmented data structure.
Data sharding increases the rollup margin and together with light clients it increases network processing capacity to over 10,000 TPS.
Vitalik Buterin however, estimates that the progress on these 2 elements is less than 50%, hence the estimated timeframe of one year for phase 1.
Advances on stateless clients and Ethereum 1.x are also less than 50%.
After posting this update, Vitalik Buterin insisted on the prompt implementation of the proposal EIP-1559 which states that the transaction fees collected by the protocol should be burned rather than paid to minors.
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