The preeminent blockchain that enables developers to build their applications is Ethereum. It is common knowledge that developers build decentralized apps on Ethereum Network. As a result of the importance developers attached to Ethereum, experts believe that ETH could overrun Bitcoin by MCAP in the near future. They even went ahead to coin a word for it: flippening. Well, the world has yet to see that happen. In all fairness to Ethereum, it holds importance within the blockchain industry. However, ETH price is increasingly dropping in the cryptocurrency market, and as its price continues to take a nosedive, the Ethereum 2.0 roadmap has launched.
Key Features of Ethereum 2.0
Indeed, the roadmap shows that it combines certain key features:
- Proof of stake consensus mechanism
Indeed, the platform is promising on-chain transaction throughput support even as it guarantees security and decentralization. With all these gains, Ethereum will be on the horizon to meet three important goals. These goals are a network for new economic systems, a robust platform that supports the global transfer of values, and the world’s collaboration hub. Ethereum’s founder Vitalik Buterin noted that blockchains are decentralized. So, the question now is, “Who is developing Ethereum 2.0?”
Who is Developing Ethereum 2.0?
Unarguably, the question has become important given that no one controls Ethereum. Sure, it does make Ethereum super fascinating, doesn’t it? The Ethereum protocol is also a community of researchers. In addition, the Ethereum protocol defines a community where its executors propose concepts, brainstorm on them, and refine them where necessary. In the end, the outcome is the implementation of a unanimous protocol in itself. Similarly, Ethereum runs on software called clients or nodes. Many of them, which are open-source, exist. Apart from the software, there is an ecosystem of open-source projects developed for Ethereum.
What are these Ethereum Projects?
Out there, there are many different research topics on Ethereum. The researchers need to streamline them to make Ethereum 2.0 work. These research topics cover Signature aggregation, P2P communication, Light Client Support, Data Availability, Fork Choice Random Number Generation, and many others. While some of the research topics have reached execution stage, many others still need time to lock down.
It goes without saying that there are many talented computer programmers working tirelessly to make the Ethereum blockchain fantastic. Indeed, the research is ongoing as these smart researchers continue to build solid fulcrums for Ethereum 2.0. As we pointed out earlier, many of these research topics have yet to research the implementation stage, but as the research topics mature, they follow a specification that the implementation team has defined for Ethereum 2.0. Also, the Ethereum Foundation is developing a reference implementation client in the Python scripting language. The Foundation has provided a valuable support to the implementation teams. Yes, now you know, Ethereum 2.0 is on course for becoming a successful blockchain just as Ethereum. Additionally, the Ethereum Foundation is leading the team of developers working on Ethereum 2.0.
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