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What changes will ETH 2.0 "quiet" bring to the encryption industry?

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What exactly is ETH 2.0? What are the technical updates to ETH 2.0? What impact will ETH 2.0 have on the average user?

原文来源：库币

At 8pm on 1 December 2020, the ETH 2.0 beacon chain's creation block was officially launched. ETH 2.0 is the general name for all the new phases from the "quiet" phase of Ethereum. This is not only a simple upgrade, but one of the most high-profile events in the cryptographic industry, and the smooth development of ETH 2.0 will have a huge impact on the overall cryptocurrency market.

What exactly is ETH 2.0? What are the technical updates to ETH 2.0? What impact will ETH 2.0 have on the average user? Today's vault currency Blog takes you through ETH 2.0.

01 What is ETH 2.0

ETH 2.0 is a complete upgrade to the current Ethereal Workshop (ETH). Mainly to address issues such as ethereum's scalability and cost. The biggest change in ETH 2.0 is the shift from PoW to PoS consensus mechanisms, and the introduction of sharded chains to handle transactions and execute smart contracts, etc. ETH 2.0 is a very large systems project, not a one-time implementation, but a phased one.

Four phases of 02 ETH 2.0

According to the technology roadmap for ETH 2.0, ETH 2.0 is divided into four different phases and will take at least two years or so to complete.

The development plans at different stages are as follows:

Phase 0: Also known as the beacon chain phase, this phase will focus on proving, validating, getting the beacon chain up and running.

Phase 1: The emphasis is on adding a sharding chain. However, this phase is just a trial run of the sharding structure, rather than an attempt to use sharding to extend.

Stage 1.5: The implementation layer is introduced, which is the convergence of important features of ETH 2.0, including the shard-chain upgrade, allowing wallet transfer, intelligent contract execution, etc. This phase will become known as Ethereum.

Phase 2: The new world computer ETH 2.0 will be tweaked and optimized.

Detail phase 0 beacon chain

This pioneering beacon chain is the heart of ETH 2.0 as a whole. It's called the Beacon Chain. Its role in ETH 2.0 is similar to that of a semaphore, directing the system's actions and storing a large amount of authentication data.

The beacon chain is essentially a new proof of interest (PoS) blockchain that is responsible for directing and coordinating all participants in the ETH 2.0 system. It manages the list of verifiers and the sharding verifier task. The beacon chain acts as a neural hub, supporting and connecting the segmented chains and bringing the entire ETH 2.0 ecology to life.

Three key upgrades for 04 ETH 2.0

To achieve the ETH 2.0 scale-up goal, ETH 2.0 will be upgraded primarily around three key technology points: consensus mechanism, performance scale-up, and computing engine.

First, in terms of consensus mechanism, ETH 2.0 adopts Casper consensus to replace POW consensus, so as to improve the consensus efficiency on the chain and reduce the energy consumption of mining with invalid calculation force.

Secondly, ETH 2.0 establishes the hierarchical architecture of "beacon chain-sharding chain" by introducing sharding chain, and realizes performance expansion through the parallel processing of transactions in the network by multiple sharding chain nodes and block packaging.

ETH 2.0 will launch a new computing engine eWASM, support C/C++ Deng traditional programming language, 64-bit processing, code execution speed will be greatly improved.

How can users participate in ETH 2.0

The user can pledge 32 ETH to the ETH 2.0 storage contract as its verifier. But this is not very friendly for ordinary users, in order to lower the threshold for users to participate in ETH 2.0, the library coinPool-XThe platform has launched a dedicated page supporting ETH 2.0 ecology, and users can participate in ETH 2.0 pledge through the Pool-X platform, supporting users to pledge at least 0.01 ETH, and obtaining corresponding rights and rewards.

As an upgrade to Ethereum. Over the next few years, ETH 2.0 designers will completely revolutionize ethereum's consensus system and introduce ethereum's existing state of the world. While the future of ETH 2.0 is well worth looking forward to, the sheer scale and technical difficulties involved in the upgrade process add to the uncertainty. Investors should be rational about ETH 2.0. After all, as things stand right now, the launch of ETH 2.0 is unlikely to have a more profound impact on the industry than raising community awareness.