Ethereum Changes
ETH 2.0, called Serenity , contains technologies such as: Casper FFG, Sharing, Beacon Chac and eWASM. In addition, many 2nd Layer solutions have been created (commonly called "second layer" - these are often off-chain technologies where most of the activity takes place outside the main chain, relieving it, and then after all interactions between users (when there is a conflict between the participants, it goes to the main chain, acting as an arbiter), the final version is sent to the main chain). These are ZK-STARK, Zether, Plasma and State Channels (off-chain channel, similar to Lightning Network). All of this is meant to make Ethereum fast, inexpensive to use and private.
For a full understanding, we need to go back and look at the overall thinking that guides ETH developers from the beginning. Each of these technologies will be discussed in detail in the report.
Ever since Ethereum was finally introduced to the cryptocurrency community in 2014, it has undergone ongoing changes to improve cryptocurrency and achieve its ultimate goal. Become a global computer. This goal has not been achieved so far, but the overall picture of Ethereum development that we can review in recent years is quite positive and optimistic. Instead of rushing into the uneducated and unstable implementation of pioneering technologies, developed since the end of 2014, ETH manufacturers are using a long-term approach - the small changes that lead to a clear defined, larger purpose.
It was recently recognized that the Ethereum network is ready to enter the next phase. The plan for the next few years has played out.
For more than a year, Ethereum began implementing key changes that fundamentally redefined the way the network works. Despite the fact that the leaders of the technical mind of Ethereum can be considered Vitalik Buterin, Justin Drake and Vlad Zamfir - three of the people who have had a significant impact on the development of cryptocurrency (even Vlad has distanced himself a bit from the project since the era of ETH 1.0) - even they. by proposing any changes, they must be accepted by the general consensus of all network users. The process of implementing changes to Ethereum is the same as for most cryptocurrencies. We are talking about the EIP system - Ethereum Improvement Proposal.
These improvements, particularly this year’s Constantinopol hardfork, are an introduction to ETH 2.0. Reward for block miners is limited, the difficulty bomb is delayed to allow more time to make changes - a mechanism to make ETH excavation ineffective (the bomb must force the community to make changes and improvements in the long term), and many corrections have been added, such as reduced costs of "State Channels", which will be one of the key future solutions of off-chain ETH scalability.
Presentation of improvements within Constantinopol's hardcore
ETH 2.0 is a powerful project with a long-term vision. Why?
The main work in theory, and in the next code, has been going on since 2014 (when the idea of moving the POS first appeared - then Vitalik introduced the concept of Slasher - ETH from Stake Proof ).
The trial and full implementation of ETH 2.0 will take place over the next few years.
In order to achieve their goals, developers have to deal with previously unresolved problems of decentralized POS-based systems, such as the "no-risk"
Ethereum 2.0 - otherwise known as the Serenity update, the philosophy of its underlying architecture is included in many key points:
Decentralization - to enable anyone with a mid-range laptop to deposit to ETH and verify transactions / shards.
Longevity - for the network can remain active even if the excess of authentication nodes is turned off (e.g. if it is intentional action, international censorship, or large-scale natural disaster).
Security and Resistance - in addition to decentralization, which greatly increases the cost of a potential attack, will prepare ETH for possible threats from future computers altogether, aka. introduce a tool for the rapid implementation of cryptographic protocols, which are assumed to be resistant to e.g. the Shor algorithm [15]. (although this is not a priority)
Simplicity - reducing the complexity of the system, even at the price of performance.
Therefore, Ethereum is distributed (like a real global computer), the chain must remain live even if most nodes are suddenly disconnected, mechanisms are created to respond quickly to changing threats from in quantum computer technology, which is assumed to be capable of breaking classical encryption, including the elliptic curve cryptography used in Ethereum. Cryptocurrency should also be easy to develop, simple and easy to use. The smart contract system should be easy to understand and accessible to increase adoption.
