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Vitalik Buterin talks about key updates for the launch of Ethereum 2.0 in 2022

  • The co – founder of Ethereum outlined the necessary steps to get to the full launch of Ethereum 2.0.
  • Buterin spoke about the importance of enhancing decentralization without compromising network security.

During his last podcast interview appearance with Bankless, Ethereum co – founder Vitalik Buterin unveiled an important roadmap and some essential steps for the launch of Ethereum 2.0. To achieve greater scalability and decentralization, Buterin emphasized making the Ethereum network more agile and lighter in terms of blockchain data.

Last month, Buterin discussed the roadmap for a smooth transition to the Proof-of-Stake Ethereum 2.0 blockchain. First, he talked about merging the current PoW blockchain with the PoS Ethereum 2.0. In addition, he also mentioned some tools that would facilitate blockchain verification in a decentralized and censorship-resistant manner.

Vitalik Buterin explains the importance of the compound

The “merger” between the current Ethereum mainnet and the Proof-Stake (PoS) system of the beacon chain will be crucial, Buterin says. It will basically mark the end of the Ethereum PoW blockchain and the complete transition to the Stake Proof system.

The ‘merger’ will take place during the first half of 2022 and will precede the deployment of shard chains. The second part, called the «increase», will bring more scalability to Ethereum. It will also introduce huge bandwidth and performance, especially on zk-rollups. The “merger” and the “boom” are the two most important.

Speaking on the progress that Ethereum has made over the last 6 years, Buterin said that we are «50% of the way». He also spoke about the contribution made by a number of major events such as the launch of the Beacon Chain, London’s hard fork, as well as the increase in NFTs.

After the “merge” and “boom” contest, Ethereum developers will move on to fully implement the sardio. This will result in 80 per cent of the competition for the upgrade. Buterin notes, however, that the roadmap represents improvements over a further six years to achieve a 100 percent optimization.

Ethereum co-founder said the next step of the update will be on the fringe. This will allow more users to run nodes, and «provide access to as many participants as possible for anyone trying to verify the validity of the chain.»

Buterin talked about the ideal scenario for launching Ethereum 2.0 without compromising your decentralization for scalability. “Put the past into the past and create Ethereum that becomes simpler and simpler over time,” he said.

Vitalik Buterin talks about the importance of Tier 2 scaling solutions

On his recent podcast with Bankless, Buterin admitted that Ethereum is not the tier 1 platform yet ready for mass adoption. It therefore reaffirmed the need for Tier 2 scaling solutions as well as lower transaction fees.

He acknowledged the progress Ethereum has made with its layer 2 scaling over the past year. He supported the public behind these solutions saying they are «willing to fight for it.»

Buterin talked about keeping the Ethereum blockchain secure. He referred to the users of the Ethereum blockchain as security guards who protect the network from attackers. Currently, Ethereum is running 2.6 megabytes per second of blockchain data. Once Ethereum adds more bandwidth, defenders will be able to easily run more nodes and thus verify that everything is fine.

Javier Marquez

Javier Marquez has been closely following the development of bitcoin and blockchain technology since 2017. Since then, he has been working as a columnist, reporting on the ups and downs, implications and developments of the cryptocurrency market. He believes that cryptocurrencies and blockchain technology will have a huge positive impact on people's lives.

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