Ethereum [ETH]’s Vitalik says scalability, efficiency are the key differences of Ethereum 2.0

In an interview held recently, Vitalik Buterin, the co-founder of Ethereum, spoke about Shasper and the different kinds of ideas involved in improving the Ethereum protocol that he and his team have been working on for the last four years.

He said that many of them have fairly large challenges in their protocol, where Proof-of-Work is being replaced by Proof-of-Stake in mining as the consensus algorithm.

It basically does not require every node to verify every transaction, which will require different groups of nodes to verify different transactions as a way of allowing more transactions.

He added that there are a lot of different smaller efficiency improvements and the idea behind the implementation of Serenity was to take all these ideas together and make a new blockchain like it “seemed from the White House”.

The co-founder also spoke about improvements in sharding and transactions, citing that in the long-run, potentially, it’ll increase by a factor of a thousand. However, he reasserted that it will take a bit of time to get there.

He also spoke about layer 2 solutions, saying that they’re fundamentally different from layer 1 solutions. Vitalik added:

“Think of layer one as making a highway bigger and making more highways. Layer two solutions are like having 10 cars being fit inside a truck, and having more highways to facilitate these truck. To achieve scalability, and it will be, layer 1 and layer 2 will act as different kinds of methods towards similar goals. It’s basically scaling in different ways.”

Members of the Lighthouse team present with Vitalik Buterin said that they were working on the base logic and by March 2019, aims to connect these implementations together and start forming a basic blockchain.

They added that it will not be helpful for people right away, but will have pieces of software talking to each other through a proper network.

The team has been building an implementation which will be a client of Ethereum’s Serenity. They’ve been building it in Rust, a programming language. They’ll look at full technical specifications that come from EF research and the community, and then build a working piece of software.

Written by Syed Suhaib

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