Ethereum 2020: what to expect beyond the merger of ethereum 1.0 and 2.0?

Original title: "what to expect from ethereum 2.0 in 2020?"
| Jim McDonald by Unitimes

2020 will be a critical year for ethereum 2.0, and the expected launch of phase 0 (beacon chain) will accelerate work in other phases and drive the growth of the native ethereum state system. Based on the amount of work required to deliver ethereum 2.0 and the current state of the development, here's my personal vision for ethereum 2.0 next year.

networking

Ethereum 2.0 was implemented in three phases. Although the implementation will be largely sequential (phase 1 and phase 2 completion may be at similar, if not identical, times), all three phases are to some extent parallel.

01. Design, implementation and release of phase 0

Without a doubt, this is the most important task ethereum contributors will focus on in 2020. If 2020 ends without a steady release of ethereum 2.0 phase 0, it's hard not to see ethereum 2.0 as a failure. Instead, a successful release will prove that ethereum 2.0 can provide a trustless and high-volume foundation for a decentralized future of finance, computing, and trust.

Phase 0 design work is nearly complete: basically, there will be no further rewrites of other features, and any future changes will be related to issues released during large-scale testing. The BLS encryption scheme that provided the basis for ethereum's keys has reached the appropriate level of standardization to be considered the final technology to rely on for the phase 0 design.

The only two exceptions are likely to be verifier interactions and rewards. Problems remain in the current reward system as the minimum number of verifiers to start the beacon chain has been reduced from 65,536 to 16,384. The verifier interaction needs to be improved to reduce the current inability to validate with deposits.

Phase 0 implementation work is underway: two separate teams have built ethereum 2.0 node software with sufficient functionality and maturity to be considered for final testing, while other teams have advanced development but are not ready to test with more mature nodes. Obviously, the final implementation work can only take place before the design is fixed, but as changes to the phase 0 design are reduced to bug fixes and necessary optimizations, the time between the new version of the phase 0 specification and the code running that version is reduced to just a few days.

Although the design for phase 1 and phase 2 was carried out at the same time as the design and implementation for phase 0, the design for the former was reverted to an advanced phase, still undergoing significant changes. Phase 1 provides sharding, which allows the computing load of ethereum 2.0 to be distributed among a subset of validators, and phase 2 provides the execution capability to create a structure for trading on a sharding chain.

Phase 1, in particular, has undergone many redesigns over the past year. The current design seems to strike a fine balance between extensibility and simplicity, but it remains to be seen whether it will be replaced by alternative designs. However, in order for the phase 1 implementation to start on time, the phase 1 design needs to be finalized in the first half of 2020.

The design of phase 2 is far less complex than phases 0 and 1: it simply defines the concept of an executive environment. The execution environment is the engine of ethereum 2.0 and is responsible for executing and processing transactions. However, phase 2 itself does not define any particular execution environment, so in conjunction with the release of phase 2, it is expected that there will be many execution environments established by the ethereum team and third parties. They fall into two categories: generic execution environments and specific functional execution environments.

The common execution environment will provide all the functionality currently commonly considered a blockchain. A common execution environment might mimic the functionality of ethereum 1.0, another bitcoin, or another Zcash. Users will be able to use these common execution environments as much as they do with these blockchains today.

While there are many different types of transactions in ethereum 1.0 and those that will be in ethereum 2.0, there are many commonalities. For example, most token contracts (such as the erc-20 contract) have similar requirements: hold tokens, transfer tokens, and so on. In this case, it may be cheaper to build a single "token contract" execution environment (that is, an execution environment for a specific function) that provides dedicated functionality for tokens, rather than having to deploy its own contracts in a common execution environment, as was the case with ethereum 1.0.

There is still a lot of work to be done in the design of a common execution environment, and especially in some of the more common function-specific environments, especially in trying to define the specific functions of each execution environment. Research is still underway, but the early definition will need to be completed in the second or third quarter of 2020 for implementation and testing.

03. Migrate ethereum 1.0 to ethereum 2.0

Phase 0 of ethereum 2.0 was a heavy workload and a high level of complexity, but it was virtually useless to the end user. Indeed, phase 0 by itself will do nothing for ethereum, only increase inflation. At present, about how the etheric 1.0 and fang fang 2.0 merger, most likely will advice is etheric 1.0 under the etheric lane 2.0 (note: according to the latest proposal, Vitalik current Eth1 is most likely to plan will be for Eth2 in shard 0 "existence", finally can adjust Eth1 for an execution environment of for Eth2, but a start Eth1) can be a whole divided, without having to create an etheric lane 1.0 execution environment. While there is no guarantee that this will be the final design, the overall push to accelerate the merger of the two chains is significant and worth looking forward to. This may not be done by the end of 2020, but if not, it will certainly be done by the end of 2021.

To consider a point is, when the etheric 1.0 and fang fang 2.0 merger, is likely to be one or more entities will continue to run in the form of independent chain etheric lane 1.0 chain: those in infrastructure to ittai lane 1.0 invested heavily entity will continue to make the etheric motivated fang 1.0 chain operation, ignore the etheric lane 2.0 development.

Although the users' lack of interest is likely to mean that the independent chain will soon disappear, but the user and smart contracts indeed, developers need to consider that this kind of situation, if the chain continues to exist independently, so will not appear the ETH balance of bifurcate, scrip balance, ENS register and present the etheric lane 1.0 all other assets and data on the chain will be split ends. Owners of these contracts will have to move quickly to make decisions about which chain their official tokens, data, and so on reside on to avoid confusing users.

Ecological aspects

While the release of ethereum 2.0 phase 0 was critical, the beacon chain wouldn't have been very useful without doing something else. You also need to prepare for phases 1 and 2 so that when they start up, they are supported so that they can run.

Wallet 01.

Ethereum 2.0 has a similar key to ethereum 1.0 but is based on a different standard. This means that the ethereum 1.0 key cannot be used for ethereum 2.0 transactions. Work is needed to build a wallet that supports ethereum 2.0 keys.

Many ethereum 1.0 wallets were created when best practices for wallet functionality and security were unclear. As a result, there are many different incompatible implementations. In contrast, ethereum 2.0 has a number of proposed standards, such as eip-2333, eip-2334, eip-2335, eip-2386, and eip-2426, that lay the foundation for creating a compatible ethereum 2.0 wallet across different implementations.

In addition, there is currently no ethereum 2.0 address standard. Addresses are important because they will contain checksums to help protect user funds from incorrect cut-and-paste or transcription errors. Discussions on the ethereum 2.0 address format are ongoing.

It may be too early to see a fully functional ethereum 2.0 wallet in 2020, but this year should see the standards finalized and enough early players to provide the wallet functionality that validators need. Also, keep an eye out for new hardware wallets that support ethereum 2.0.

02. Protection of withdrawal key

Every verifier is a key (withdrawl key), once the withdrawal function available, the verifier will need to use the key to withdrawal to retrieve the mortgage funding. The withdrawal key will need to be protected until it is needed, preferably with an offline solution.

Expect to see the various methods used to protect withdrawal keys and the companies that provide them widely used in the future. For the verifier's withdrawal key, see what is the verifier key and withdrawal key in the popular science | Eth2.0?

03. Staking hosting services

Ethereum 2.0 has an active staking system, where verifiers are constantly online and remain active to receive rewards (and avoid penalties). Despite the relatively low cost of validator hardware, there is an increasing amount of ongoing work required to manage the network, software, etc., so many ETH holders may prefer to use a staking hosting service to perform ethereum 2.0 validation on their behalf.

Staking hosting services can be modeled in different ways, with different levels of security, different access rights to funds, and different levels of customer engagement. We expect to see a number of companies offering staking services based on various models, mainly within six months of the launch of the beacon chain.

conclusion

For ethereum, 2020 is a make-or-break year. The complexity of building an ethereum 2.0 network is difficult in itself, but doing so under ethereum's name is a big risk. ETH itself is an established store of value in its own right, and the current ethereum chain runs the smart contracts on which many businesses depend.

Don't expect to be able to very little cost to implement a in terms of throughput than the current ether chain thousands of times higher than that of the etheric fang fang 1.0 2.0 chain, but we can look forward to achieve this goal will have some significant steps, including a beacon of chain operation, and merges in the etheric and etheric fang fang 1.0 2.0 and comprehensive implementation of the execution environment has finalized design. 2020 will be a very interesting year!

Source:https://www.unitimes.pro/p/fc514b17206c4ecd987705c7ad431d20

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