An Ethereum co-founder work in the new version 2.0. It will include potential and skill improvements
During a keynote presentation at Devcon4 conference, in Prague, Vitalik Buterin, an Ethereum co-founder, talked about Ethereum 2.0 launch, described by him as a “coherent whole” of this technology. The name of the project is “Serenity” and it is made up of other projects in which Ethereum’s developers participate since 2014.
Buterin explained: “Ethereum 2.0 is a combination of a lot of different characteristics that we have been talking about for several years, researching for several years and building for several years that are finally about to come together in a cohesive whole”.
Serenity is a set of protocol improvements which include an extraction test algorithm and the Casper project, which proposes to improve scalability through the fragmentation process. In addition to this, the co-founder who worked with Buterin on the ERC-20 standard development in 2015, indicated that a new form of ICOs in which investors can be protected will be introduced.
There is not a launch date yet. Before this, the developers will make some final adjustments, according to the information given by Vitalik Buterin at the conference.
Among them, there are the specifications of the stabilization protocol and the test networks between clients, who would buy a test network with at least two implementations of the new Ethereum 2.0.
The Ethereum co-founder also said that these updates have been delayed in order to do an efficient job and avoiding premature releases, as happened with Ethereum 1.0.
For a long time, different experts have debated about which updates can be added to the network and, in fact, these changes have been delayed in order to fine-tune details regarding the technical skills of the App.
Ethereum is an open source decentralized platform which allows the creation of smart contract agreements between peers, based on blockchain technology. In this platform of distributed computation, any developer can create and publish distributed applications which make smart contracts.
Ethereum works in a decentralized way through a virtual machine called Ethereum Virtual Machine (EVM); this machine executes an intermediate code called bytecode, which is a mixture of LIP, i.e. a bitcoin script assembler.
The programs that generate smart contracts are written in programming languages such as Serpent or Solidity. The open source contracts can be used to safely execute a wide variety of services, for instance: voting systems, financial exchanges, intellectual property, and autonomous decentralized organizations.
The system also can be used to create financial applications with security and transparency. It also offers online cryptographic security to manage properties and contracts, which are automatically executed when the conditions are ready for both parts. They can store data, send and receive transactions and even interact with other contracts.
Vitalik Buterin, a cryptocurrency developer, is who proposed the system which was launched in July 2015. Since July 2016, there are two active Ethereum lines: Ethereum and Classic Ethereum. Buterin says that Serenity’s launch date is not far away.
By María Rodríguez