Ethereum Releases The Updates For Serenity Mainnet, is Now Closer Than Ever to Being Ready

Vitalik Buterin and his team’s plans have been altered over the years, but alternative consensus mechanisms like Proof of Stake (PoS) and scaling solutions, such as the mythical Plasma and sharding protocols, have long been floated. The developers’ goal is to integrate all these improvements in an upgrade known as 2.0 (Serenity).

Earlier this month, Buterin explained that Serenity could simply be explained as

“a way to bring technical improvements, like PoS and sharding, together to improve the Virtual Machine, Merkle Trees, the efficiency of the protocol, and a whole bunch of small technical things that you have never heard of.”

Now, Ethereum’s Raul Jordan released the updates on the project.

He begins the blog by saying that the goal of this testnet is to have a highly available network that is resilient to forks, validator inactivity, and allows new validators to join the network to participate in Proof of Stake consensus according to the rules of the protocol.

Their testnet has to accomplish the following steps:

  • Ethereum 2.0 from Goerli testnet ETH into a Validator Deposit Contract
  • Run the Phase 0 Proof of Stake beacon chain protocol with validators producing and attesting to blocks via distributed consensus on the Prysmclient
  • Apply a fork-choice rule that is resilient to network partitions due to latency or malicious actors
  • Allow anyone to sync with the network via p2p and to activate new validators into the system

Allow anyone running validators to see rewards over time as well as any penalties that may be applied depending on each validator’s uptime and activity

Jordan adds in the blog:

“Our testnet will be a gradually evolving project that we hope the community uses as an opportunity to test how Ethereum 2.0’s beacon chain fares in practice out in the wild. We will include a monitoring portal for our cloud cluster anyone can see to inspect the health of the network […]”

If you want to learn more about the updates, you can read Jordan’s blog here.

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Sritanshu Sinha
Sritanshu Sinha
Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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