Understand Ethereum 2.0 and its impact in one article

Ethereum 2.0 and Ethereum Classic?

Ethereum 2.0, also known as Eth2 and Serenity, is the first upgrade to the existing Ethereum Classic blockchain, designed to increase the speed, efficiency and scalability of the Ethereum network while improving security and making the network more sustainable sex. If you already hold ETH, don't worry; you don't need to do anything; the ETH 2.0 upgrade is happening behind the scenes, and holders should never know the difference.

Users of Eth-1.0 have identified bottlenecks and still need to increase the number of possible transactions per second (currently 15 to 45). The two main structural changes in Eth2 are:

权益证明——这是 ETH 区块链促进者的共识机制,称为验证者,它查看正在进行的交易,而不是以太坊工作证明矿工的工作。验证者必须提供 32ETH 的保证金,以防止不当行为。

分片- 将区块链拆分为分片(多个区块链)。分片提高了效率,因为验证者将维护自己的分片信息。验证者也将在分片之间洗牌,以避免操纵和加强安全性,分片之间使用信标链进行通信。

Interoperability of ETH2.0

On each shard, 128 validators (called committees) are responsible for the infrastructure and maintenance of the network. They hold signature and withdrawal keys to confirm their location and the ability to verify the validity of each transaction; this validation process is called "attestation". The committee of validators decides the validity and time of the entire blockchain. Each new shard block is proposed and validated by this committee within a 12-second time frame called a "slot".

The initial structure of Eth 2.0 will have 64 shards. Therefore, each slot is an opportunity for a shard validator to add a block and get rewarded. Each shard has 64 shard blocks (one per shard) and one beacon chain block.

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32 time slots constitute an Epoch, which is about 6.4 minutes.
At the end of each epoch, the 128 validator committee is disbanded and a new set of validators is chosen using a semi-random process called RANDAO. By changing the committee, it removes a malicious validator's control over the final outcome of a proposed block.

What is the difference between Eth1 and Eth2?

The main difference is the "consensus mechanism" used (confirming transactions). Ethereum uses Proof of Work (PoW), while Ethereum 2.0 will use Proof of Stake (PoS).

The proof-of-work mechanism in its current form is a computationally and energy-intensive process that solves the complex mathematical puzzles Ethereum miners currently use to verify transactions. The miner who solves the puzzle the fastest will be rewarded. It is hoped that the PoW mechanism can promote innovation in the field of renewable energy.

In Proof of Stake, transactions are validated by validators rather than miners. PoS is more energy efficient than PoW because securing the blockchain with PoS uses less computing power to create blocks. The Ethereum Foundation estimates that ETH 2.0 will consume 99.95% less energy than ETH 1.0.

Ethereum mining using PoW is a very competitive business that requires significant investment in mining hardware and power consumption; this will change with the switch to Eth 2.0, making it easier to participate.

So how will the future of Ethereum 2.0 change?
From the end of 2020 to 2022, Ethereum 2.0 will be launched in three (half) phases:

阶段 0于 2020 年 12 月启动,实施了信标链、验证者注册表,并部署了工作量证明机制。

第一阶段预计在 2021 年推出,将推出 64 个分片的第一次迭代。

阶段 1.5 合并是当前以太坊 1.0 链成为 Eth2 分片的时候。此时,验证者既可以进入也可以退出该方案。

第二阶段分片 链计划于 2021 年底或 2022 年结束,这将是一次升级,其中 64 个分片将具有智能合约兼容性和其他附加功能的全部功能

ETH 2.0 Expected transactions per second

Even second-generation cryptocurrencies like Ethereum are limited by their throughput and scalability. The Bitcoin network can currently only handle 7 transactions per second, and only guarantees 4.6, while ETH can handle 15-45, which is a hindrance if usage exceeds what it occasionally does. The ETH 2.0 network will scale to a potential 100,000 tx/s; by comparison, VISA processes an average of 1,700 tx/s and claims to handle 24,000.

What are the implications of ETH 2.0?

Ethereum network users will be happy because ETH will change its fee structure and users will pay less for transactions. This means that current miners will reduce their new included fees per transaction, rather than Ethereum's auction-style fee market, but expect their per-transaction costs to drop due to PoS's energy efficiency and increased volume. Since the cost is lower, both users and validators benefit, so the transaction volume will be higher.

The reduced cost and higher speed of ETH 2.0 will enable more types of Defi transactions and provide opportunities for new and different types of security tokens, NFTs and other distributed financial applications, which are built on ETH 1.0 has no economic significance.

ETH 2.0 will also allow for more complex and cheaper smart contracts using zero-knowledge rollups and optimistic rollups. Through aggregation, all transaction data is bundled and available on Ethereum in a way that is cheaper than using regular blockchain-based transactions. The computational load required for aggregation is done off-chain, further improving throughput and transaction cost efficiency.

Sharding will democratize the network, eventually enabling ordinary users to operate Ethereum on their personal devices. An increasing number of network participants will further decentralize the blockchain. The issuance of ETH will also be reduced; ETH co-founder Vitalik Buterin has said that under ETH 2.0, the issuance of new tokens should be between 100,000 and 2 million per year, down from the current 4.7 million per year. Increased coin demand.

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Origin blog.csdn.net/leaning_java/article/details/126240897