What Ethereum 2.0 looked like when Vitalik Buterin celebrated his birthday

The Ethereum 2.0 upgrade of the consensus layer built by multiple teams in the ecosystem promises to bring “a more scalable, safer, and more sustainable Ethereum.” Now Vitalik Buterin celebrates the first anniversary of the launch of the Proof of Stake beacon chain. Eth2 or Serenity’s goal is to “support 1000 transactions per second”, so it can solve the problem of high gas costs.

Beacon Chain is one of the unique parts of Ethereum 2.0. It allows users to become Eth2 validators by staking Ethereum. It is reported that the annual revenue is as high as 10%, reducing the number of miners used for transaction verification and adding new blocks.

Ben Edgington, the main product owner of the Teku Eth 2.0 client, explained: “The reduction penalty was reduced at the beginning of the beacon chain to increase the confidence of the punters. Now we all feel more comfortable with staking, and the penalty has gradually increased to their’encrypted economy’. Right’ value.”

The August update of the London hard fork continued to implement EIP-1559 and changed the transaction fee system.In this way, the ETH burning started, and now we see a total of 353,615.10 8.19

Related Reading | Over 1 million ETH has been burned since Ethereum EIP-1559

Beacon Chain Birthday Eth 2.0 Roadmap

The next stage, merge, If the code is completed before February, it may happen around May or June next year. This will “merge” the beacon chain into the mainnet. As already explained, it aims to complete the transition to PoS, “Ethereum’s history on the PoW network will be preserved because the PoS consensus layer is merged to replace PoW.”

Butrin Vitalik publishing An updated roadmap for the current state of Ethereum protocol development

Beko team statement “The Arrow Glacier upgrade is planned for the 13,773,000 block and is expected to be carried out on December 8, 2021” and calls on users to upgrade their nodes. He expects the Kintsugi development network to go live at the beginning of this month, which is to “implement the release candidate design for The Merge” and then “testing, risk management and governance.”

Both Beiko and Edgington stated that Ethereum developers are mainly concerned with the final steps of Eth2.

The shift to Proof of Stake will not immediately provide any significant additional throughput to the Ethereum chain, so I don’t think it will have a measurable impact on natural gas prices. The scalability strategy in Ethereum now revolves around second-tier solutions, such as the various aggregates currently being deployed. After the merger is complete, we will focus on providing data sharding in the Ethereum protocol, which will allow aggregate large-scale expansion.

Obol Lab Picture Tweet By Colin Myers

Collin Myers, the project leader of Obol Labs, is pleased to see that Distributed Validator Technology (DVT) is at the “top” of the Vitalik Eth2 roadmap and interprets it as a new infrastructure that can achieve “cross-Eth2 infrastructure deployment” Active-active redundancy” and suggested “a world where the theft of the verifier’s key is almost impossible due to the application of cryptography”.

We believe that a more flexible Ethereum can be achieved through a collaborative infrastructure protocol that prevents the disappearance of a few network operators. DVT can achieve this by allowing a group of network operators to act together as a single validator-we like to call it a multi-operator validator.

Related Reading | Ethereum rises by 5%, why ETH may soar to the new ATH above $5,000

The price of Ethereum on the daily chart is $4,536 | Source: ETHUSD on TradingView.com

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