Ethereum 2.0  – The Better Ethereum and ETH’s Future  

Following up on defending Ethereum (ETH), Vitalik unveiled and supported RocketPool mission to chalk out a vision map for Ethereum 2.0. The article written by Darren Langley, a senior blockchain developer describes the new version as follows

Ethereum 2.0 combines these key projects:

• Proof-of-stake (Beacon Chain, Casper FFG)
• Sharding
• eWASM

Once delivered, Ethereum 2.0 will support massive on-chain transaction throughput, while balancing decentralisation and security.

Ethereum is everyone’s baby. It is operationally decentralized . As Vitalik Buterin is quoted saying the blockchain is “politically decentralized (no one controls them) and architecturally decentralized (no infrastructural central point of failure) but they are logically centralized (there is one commonly agreed state and the system behaves like a single computer)”.

There are various issue being discussed and invited as opinions from other developers and are being intensely discussed on Ethereum Research. The research topics need to be matured to a point where they can be used as a specification for 2.0.

The article by Darren Langley lists down various open source software  projects working on building different aspects of Ethereum. The article lists down the following areas meant for research for 2.0

• Signature aggregation
• Random number generation
• Fork choice
• Data availability
• Light client support
• P2P communication
• Cross-shard communication & state/execution separation

It is a massive project with many skill-sets involved with many developers, creating a reference implementation with shard client lists and how to include them. The project will also include a phase for a common testing language to validate their implementation against the specifications.

Ethereum 2.0: Who’s building it?https://t.co/GTcCzfr9ja

— Vitalik Non-giver of Ether (@VitalikButerin) 7 September 2018

The darling of crypto traders and app creators, after Bitcoin is hands-down Ethereum, The prolific cryptocurrency came to be a store of potential over the last few years owing to its blockchain which could enable smart contracts and many decentralized apps.

Price of Ethereum is trading at $230.79 at the time of writing. This is a steep decline during the last three months from a price of $603 on June 9, 2018. This has led traders and analysts to speculate on the future of the cryptocurrency and if it will ever recover again.

While Bitcoin has also declined 13% within the last 48 hours, the story behind a continued fall in Ethereum’s price prompted credible companies like TechCrunch question the basis and also predict the inevitable collapse of ETH on September 2, 2018. It trashed the currency saying that the value of ETF was bound to go to zero. Vitalik Buterin took to Reddit to discount all the claims on the basis of  transaction fee and  ETH network without gas consumption for running these contracts.

All in all this is going to be a massive and path-breaking exercise in decentralized creation.