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What is Ethereum 2.0?
Ethereum 2.0 is the planned alternative to Ethereum.
With the rapid rise of projects such as DeFi, the transaction volume on Ethereum continues to surge, which makes transaction fees continue to rise and transaction time continues to increase. In general, the current Ethereum 1.0 has been difficult to meet the users usage and development needs.
In April of this year, the beacon chain created the genesis block, and the 0 phase officially launched the test. Danny Ryan, the Ethereum 2.0 network launch coordinator, also initially announced in the forum that the final testnet of Ethereum 2.0 is expected to be officially launched in early August. This also means that Ethereum 2.0 is close at hand.
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figure 1
1. Make it more concise, even if it affects some efficiency
2. It can still survive when the main network partition and most of the nodes are offline
3. Choose components that can resist quantum computing or use components that can be replaced with anti-quantum computing components in the future
4. Use encryption technology and enable verifiers to participate in more block generation per unit time
5. Enable any consumer-grade PC to participate in the processing of shards
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figure 2
The entire Ethernet 2.0 is divided into four layers
1. POW main chain layer: that is, the single chain of Ethereum 1.0, as the foundation of the bottom layer, in the transition stage from Ethereum 1.0 to 2.0, the value (Ether currency) in Ethereum 1.0 will be gradually transferred to the beacon chain , when the transition of Ethereum 2.0 is completed, it may be used as a shard chain, or it may continue to be retained. It has not yet been determined.
2. Beacon chain layer: This layer will eventually be the management layer of the shard chain, responsible for managing the shard chain, and participating in the intercommunication between the shard chains, and also involving value transfer in the transition stage.
3. Shard chain layer: 64 different chains, communicating with the same beacon chain, storing data, running contracts, etc., each chain is equivalent to an Ethereum 1.0.
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Key Technologies of Ethereum 2.0
In view of the characteristics of the blockchain that cannot be tampered with and the impact of a vulnerability (The DAO), etc., the transition period from Ethereum 1.0 to 2.0 will last for about 2 years and will be carried out in stages.
Phase 0: Mainly realize the partial value transfer in the beacon chain and Ethereum 1.0.
Phase 1: Mainly implement sharding, and steadily transfer digital assets on blockchain 1.0 to sharding
Phase 2: Mainly implement the eWASM virtual machine
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Beacon Chain and POS
The beacon chain is a blockchain single chain based on the POS (Casper FFG) mechanism.
When implementing the Casper FFG consensus, two roles of validator and proposer are defined. If a node wants to become a verifier, it needs to mortgage at least 16ETH to a smart contract in Ethereum 1.0, the smart contract triggers an event, the beacon chain detects the event and adds the address to the verifier list .
The beacon chain randomly assigns validators to the shards to do their jobs. When producing a block, the beacon chain randomly selects a proposer from the verifiers, and the proposer proposes a block, which is verified by the verifier. The beacon chain will monitor all verifiers and proposers. If they complete their work honestly, they will be rewarded (equivalent to mining). If they do evil, their mortgaged ETH will be confiscated.
Fragmentation
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Fragmentation
Shards are different sub-blockchains.
The implementation of sharding is actually based on addresses. Here we can assume: we define the address starting with 0x00 as segment 1, and the address starting with 0x01 as segment 2. By analogy, we can have 16*16=256 segments.
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Ethereum 2.0 Outlook
Ethereum 2.0 will be a completely different system from Ethereum 1.0, and it may be officially launched in the next few years. We should understand the functional characteristics of Ethereum 2.0 before it is officially launched, so as to better meet the new wave of blockchain.
