Ethereum Leader Vitalik Buterin Provides Insights Into Proof of Stake Blockchain 2.0 Upgrade
Late yesterday afternoon, crypto savant and Ethereum co-founder Vitalik Buterin, came out of the woodworks to speak at length about the upcoming Ethereum 2.0 upgrade that is scheduled (for the premier asset) to take place in the near future. However, taking a unique approach this time, Buterin said that instead of using ‘technical lingo’, he would like to talk about the upcoming update in the simplest terms possible.
Elaborating further on the matter, Buterin stated that:
“It is a combination of a bunch of different features that we have been talking about for the past several years. We have been actively researching, building, and now, finally getting them all together.”
In addition to this, he also discussed Casper, a new POS protocol that Ethereum plans on employing for its upcoming 2.0 update.
“Scalability Can Be Achieved Easily On The ETH Network”
Speaking on the topic of scalability, Buterin discussed the concept of sharding and how it can be used to make the Ethereum network realize its true potential. Not only that, he also stated that there were improvements being made currently to Ether’s native ‘Virtual Machine’ so that smart-contract deployment within the ecosystem can become easier and faster.
On the subject of PoS, Vitalik stated that his interest in the technology started in 2014 when he stumbled across a detailed post describing a technology called ‘Slasher’. The article expounded greatly on the benefits of a Proof of Stake algorithm— thus spiking Vitaliks interest in the matter.
In this regard, he added:
“Slasher is a useful construct to have in our war chest, in case Proof of Stake mining becomes substantially more popular or a compelling reason to switch.”
Over the past couple of months a lot of people have continued to raise question regarding the different aspects of the Ethereum network. However, one thing for sure is that the Ether network currently boasts of some of the best features within this niche’ market segment.