Ether Creator and Researcher (ETH) Talk to the Community About Serenity Patch for Ethereum 2.0

Today businesses are very aware of how they are perceived by their target audience. With so many alternatives in all industries, it is essential to have a good product but it is also imperative to have it well marketed. And after all that, honest and open communications is the last and most important thing. This is exactly what Ethereum seems to doing.

At a recent Ask Me Anything [AMA] hosted by the Ethereum Foundation, all the big wigs were present.  From Ethereum founder, Vitalik Buterin to Justin Drake, a researcher at Ethereum, sat down in a marathon session that lasted over twelve hours. They were there to answer any and all questions pertaining to their Ethereum 2.0.

Working on updating their underlying infrastructure, Ethereum 2.0 looks to provide some major updates. The Foundation looks to upgrade Ethereums capability by allowing better scalability and making tweaks that allows increased efficiency. The entire upgrade phase is being labelled as the Serenity phase.

This final phase of Ethereum 1.0 will include a host of features such as Proof-of-Stake [PoS] – Beacon and Casper, Sharding, eWASM, Plasma, Raiden, and zero-knowledge proofs. It has been the culmination of various works that the team had been working on over a number of years.

Pointy questions and answers

Most of the questions were about the latest changes and how they would fit into the grander scheme of things.

However, there were some questions and answers that stood out. One Redditer asked the team about developers who would be thinking twice about using Ethereum today, especially when one considers that Ethereum 2.0 will be taking over soon.

To this, Drake replied that the platform was a great hub for learning and an excellent facilitator for prototyping. He went on to add that

“It is also great for assembling a culturally-aligned team consistent with the philosophy of the Ethereum community (which may be different than the philosophy of the Bitcoin, Ripple, Bitcoin Cash, EOS, Tether, etc. communities).”

This was further supplemented by Buterin who went on to explain that post Serenity implementation, the teams next task would be to focus on working, along with the developer community, on modifying high-level languages.

“At that point it will become clearer how to build applications in such a way that they could be redeployed as-is on the 2.0 chain. At least that’s my hope,” He said.

Elizabeth Giovanni, another inquisitive one from the forum, queried if any economists or similar experts had been consulted with, to address the issuance rate of a full Proof-of-Stake system [PoS]. Her line of questioning seemed to be looking for redressal of community concerns about the effects of certain decisions on the network, in the long as well as short term, without expert input.

To this Buterin brushed aside any concerns about allying with financial gurus, instead he felt, “At this point the feedback I’m most interested in is actually feedback from potential stakers.” He opined that the focus should instead be on developing community consensus to make tweaks to the economics. He went on to add,

“Given a fixed level of reward, will [it] encourage more people to validate and encourage many small solo validators or smaller pools, as opposed to a few large pools.”

Talking to the community, when done correctly, is a perfect solution to assuage any community fears. With ETH getting ready for a giant step forward it will be interesting to see if more such sessions are held to interact with the end users.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide