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Five things to watch out for in Ethereum before the end of the year

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Ethereum has something to keep an eye on all the time, and these are the year-end updates you should be aware of.

Original title: "Ethereum by the end of the year, these 5 events, will bring big surprises?"

Source: Lord of the Five Fireballs

In the recent circle, although the currency price is calm, but the hot spot has not been broken:

Coin hit new appeared in the history of the shortest interval, the last one just finished, the new issue followed;

King pigeon & have spent Filecoin Finally online;

The ZEC will cut output for the first time next month;

High probability KSM parallel chain auction at the end of the year, DOT parallel chain auction at the beginning of next year;

The legendary Dfinity...

However, the lasting power, or when a public chain of the shoulder - ETH, ETH can pay attention to things without interruption, and it has to be admitted that the entire circle of the most high-end "scientific research" power, basically all focused on THE ETH.

Here are a few things you should know about ETH at least until the end of the year.

ETH Trust through

On October 12, Grayscale Investments, a cryptocurrency asset manager, approved a previous SEC registration application for Grayscale's Ethereum Trust, the first digital currency investment vehicle to declare corporate status in addition to Grayscale Bitcoin trust.

In short, ETH is only the second digital currency, after Bitcoin, that allows institutions and retail investors to buy and hold digital currencies in a "very compliant" form, which is good enough without doubt.

However, this is only approved after all, there is no real gold and silver to buy, so the impact on the market and currency prices, may not be as big as you think. But for the medium and long term, it is no doubt that all ETH investors have taken a "reassuring pill".

It is important to note, however, that grayscale's securities and Exchange Commission filing on its Ethereum Trust makes reference to ETH 1.0's potential transition to ETH 2.0, which could have a significant adverse impact on ethereum prices and grayscale stocks. Because ethereum's failure to make the transition changes correctly could lead to temporary or permanent forks, which could have negative consequences.

How far is 2.0 from here?

If poka, Dfinity, Filecoin these can be called the pigeon king three musketeers.

Add ETH2.0 and you have the pigeon King four Kings.

ETH2.0 is almost certainly much later than planned, or you think.

Want to know 2.0 is 0,1,2,3 four stages, the 0 stage was originally planned in June this year, now soon in November, the client all sorts of unyituo problem, or not on, this has been five months, if the end of the year, the 0 stage is almost half a year.

Each stage is half a year late, the four stages add up to two years late, when the time comes to call him pigeon king, not wrong.

So how much longer is phase zero?

As for the current progress, Spadina test network ended, but the effect was not particularly satisfactory, and some problems occurred. Therefore, another Zinken rehearsal test network was arranged before the creation of the main network. The test network has just started, and according to the core personnel of the development, it is "expected to be implemented within six weeks".

Well, hopefully, and I'm telling you, six weeks from now is December, and Christmas comes in December, and foreigners don't do much work at that time, so if ETH2.0 doesn't start early In December... Stay tuned for 2021.

Rollup is the center

V God himself spoke this month - Ethereum is going to be Rollup centric! In the short term, the Eth1 Rollups scheme will be promoted, and in the long term, the future of ETH2.0 will be re-imagined with rollup at the center.

In fact, if you are familiar with the definitions of Rollup and ETH2.0 sharding, you will find that sharding is, by definition, a Rollup because they are very similar.

Rollup - all transaction data is committed to the chain; Sharding - Sharded block data is centralized into the data availability layer. Rollup -- the status root is committed to the chain; Shard - The shard board provides certification for shard status roots contained in the beacon chain block. Rollup -- the state root is assumed to be valid; Shard - assume that the shard board's certification is valid. Rollup -- some nodes are responsible for validating ORU state transitions; Sharding - Some nodes are responsible for verifying state transitions of the ORU. Rollup - Has an on-chain fraud proof executor that can undo invalid state transitions; Sharding - The beacon chain supports sharding state transition fraud proof.

Recent developments in the Rollup family have been rapid, with the exception of V god's frequent thumb up roadmarks. Iden3 launches capacity expansion network based on the concept of ZK Rollup, Hermez releases white paper, Matter Labs provides zkSync capacity expansion scheme for Curve, Synthetix is using test network of Optimistic Rollup, Uniswap will definitely take Layer2 in the next version, either ZK Rollup or Optimistic Rollup, or Rollup...

The Star Project Graph is bringing the state channel into the home web, well, it's not Rollup, but it's Layer2; The new phase of Coin Injective Protocol is the first decentralized transaction Protocol of Layer-2 in the industry, which is used for decentralized cross-chain derivative transactions.

You will find that DeFi's current composable version is falling apart, and when Maker, Compound, Lend and other projects are all on their own Layer2, it will be a lot harder to combine for a while.

Personally, I feel that Layer2 is good, and the machine gun pool relies heavily on THE ETH composable DeFi project.

EIP1559

This proposal, which has been described in previous articles in the language, is probably the most important and compelling proposal on the ETH in the last year or two, because it is a relatively simple rule that will bring about significant changes to users, miners and wallet providers, and even overall ethereum safety.

The specific content of the agreement is as follows:

All transactions pay the same rate as much as possible to improve the user experience. Flexible block size limits - Miners can periodically exceed block size limits in response to surging trade demand, but only if users actually need and pay for it. TIPS are given to miners through the setup of BASEFEE and TIPS, and BASEFEE is destroyed. This makes it possible, in some cases, for the ETH even to enter deflationary mode. (If the Basefee destroyed exceeds the issue of PoS) precludes the problem of economic abstraction -- in theory the user can pay the miner using any token via a meta-transaction.

The development team's conference call on EIP1559 ended last week with a discussion of consensus bugs; Interpret the old trading simulation as type 1559 trading; The DOS problem; How to integrate with EIP2718 (an EIP proposal to introduce typed transactions); Current POA testing network and future PoW testing network...

All in all, this proposal is a relatively complex systematic project to implement, and it feels like it will have to wait until at least next year...

Liquid ETH instead of ETH?

A recent CEO of Staking said that The end result of Ethereum's switch from a work proof mechanism (PoW) to a proof of interest mechanism (PoS) is that the pledged ETH token will replace the ETH itself in the future. His reasons are as follows, "investors more want to pledge version instead of the original real assets. The pledge version ETH tokens can perform all functions of the ETH, is more valuable than the ETH, because the pledge version can get considerable rewards and at the same time for other activities, for example, can be used as a Compound of collateral or provide Uniswap liquidity pool".

ETH2.0 is going to be a very big market, and there are a lot of projects focused on it, including Rocket Protocol, Blox, ANKR and other blockchain projects that specifically provide this service.

Blox's services only reduce and simplify the ETH2.0 pledge threshold and process for users, while Ankr and Rocket Protocol also have a liquidity release function, that is, it can make the pledged ETH flow, trade and fully release its liquidity.

Theoretically speaking, generic PoS liquidity release projects like Stafi and Bifrost can also participate in the Staking service of ETH2.0.

However, there is some skepticism about the CEO's statement, since several Staking and fluxfree projects currently have standard and packaged tokens available from house to house, and it may be difficult to expect Compound, Uniswap, and others to support all of these Token formats. Moreover, "the pledge ETH tokens can perform all functions of the ETH", I doubt that, after all, the pledge version of the ETH ETH is a "packaging", in the participation contract calls, transfer aspects of affirmation and native ETH have certain difference, I'm not believe this version released the liquidity of the pledge of the ETH "the implementation of the ETH all functions.

It is also interesting to note that more than half of ethereum has not moved in the past 12 months and many people are now wondering if the motionless ETH will pledge when phase 0 is turned on. After all, there is a great deal of curiosity about how high the loan-to-value ratio and yield will be after Eth2.0 comes online.