Btrz_JokerBTC_728x90_en.gif

Ethereum 2.0 would result in second layer solutions being needed less, says Vitalik Buterin

Ethereum 2.0, the phase that would see Ethereum shift from Proof-of-Work to Proof-of-Stake, is expected to roll-out in early 2020. Vitalik Buterin, the creator of Ethereum, recently spoke on all things Ethereum 2.0 at the Ethereal Summit. During a Q&A session with Ejaaz Ahamadeen from ConsenSys, Buterin explained the economic model, dApp’s transition from Eth 1.0 to Eth 2.0, and the fate of second layer protocols, among other topics.


On dApps’ transition to Eth 2.o, Buterin explained the basic idea of how dApps will move from Eth 1.o to Eth 2.o chain, while stating that the final decision was yet to meet consensus. He stated that after the complete launch of Ethereum 2.0, which comprises of three phases: 0, 1, and 2, developers will be able to start working on the new chain from scratch, adding that they will be able to move Ether onto Eth 2 chain. He added,


“But then eventually there would come a point where we will want to basically migrate Eth 1 system over on to Eth 2 and one to two years ago, the thinking was just like […] let the Eth 1 side just kind of die-off on its own and everyone will move over. But we figured out an approach that’s kind of much more friendly to preserve existing applications.” Read More...

#ETH

Antminer Banner.png