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ConsenSys published a detailed Roadmap for Ethereum – Serenity 2.0 – Coin Hero

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ConsenSys published a detailed Roadmap for Ethereum – Serenity 2.0

Home News ConsenSys published a detailed Roadmap for Ethereum – Serenity 2.0

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Marcel Knobloch –
20.05.2019

In a recent post Medium blog post, the Ethereum-based development Studio, ConsenSys has published a Roadmap for the coming Upgrade under the name Serenity 2.0. The fix is to upgrade Ethereum on the Proof-of-Stake, an improved virtual machine (EVM) to implement and Sharding allow to support higher transactions per second and the new privacy, permissions, and Governance models.

Ethereum 2.0 – also, Serenity is called – is oriented according to the Medium-Post to five design principles: simplicity, strength, durability, security, decentralization. A step-wise approach to development of Serenity is to ensure that all the principles be developed and adhered to, in order to Ethereum position further as the market leader for Blockchain-based solutions.

In front of Serenity there will be the Istanbul Hard Fork, which is currently the last scheduled Hard Fork, after the Constantinople-Upgrade in February of this year. Istanbul is expected to be October 2019 – Currently 11 EIPs are proposed for inclusion, including EIP 1057 (ProgPoW). The theme ProgPoW is discussed in the Ethereum Community for some time. The EIP proposes that the Mining algorithm of the Protocol on ProgPoW to switch an algorithm that reduced the advantage of ASICs over GPUs in Mining efficiency.

If the Istanbul Hard Fork is, to Serenity to be introduced.

The 4 phases of Serenity

Phase 0: The Beacon-Chaion (2019)

In the year 2019 to be held in the first Phase of the Serenity of the Rollout of the Beacon Chain. The Beacon Chain is a Proof-of-Stake Blockchain, and will implement the change from Proof of Work to Proof of Stake consensus mechanism. The Proof-of-Stake (PoS) is the new consensus mechanism, in which the network is involved in the ETH-owner, the verification of the blocks to make. The Beacon-Chain provides for finality of the PoS (which was earlier than Casper FFG is known). The PoS requires that 2/3 of the validators need to stake the ETH on the next Block.

Phase 1: Shard-Chains (2020)

The Shard-Chains allows for the overall concept of the Shardings, which is the data processing responsibility is divided on many nodes, and thus, the parallel transaction, storage and processing of information. This is in contrast to the existing Ethereum-main chain, which requires every full node to process each transaction and to validate. The number of possible transactions per second will increase dramatically.

Phase 2: eWASM (2020 or 2021)

In Phase 2, the functionality of Ethereum 2.0 sollem come together. With the introduction of a new Virtual Machine – Ethereum-flavored Web Assembly (eWASM) – develop Shard-chains “of quite rudimentary data markers to a full-fledged transaction chains, which are able to scale the Ethereum network”.

With the switch to Ethereum 2.0 and the Beacon Chain the previous Ethereum Virtual machine (EVM) is updated to eWASM, a virtual machine that is based on a Web Assembly, which is defined by the World Wide Web Consortium (W3C) as an Open-Source Standard. Because WASM supports a number of programming languages, could eWASM enable the execution of Smart Contracts, which have been written in any language, on Ethereum, in contrast to the Solidity written in today’s EVM.

Phase 3: Continuous Improvement (2022)

After Phase 2, the timeline starts to be for Ethereum, which is less specific and it will start a continuous improvement.

A nice summary provides the following Video of ConsenSys:

Featured Image: Inked Pixels Shutterstock

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