Ethereum Development Keeps Pace With Crypto Boom: Proof of Stake Is On Its Way
As the price of Bitcoin (BTC) and other crypto assets have boomed, so have the underlying fundamentals of this embryonic space. Reports have revealed that Ethereum (ETH) may soon transition to the early stages of Proof of Stake (PoS) integration, ensuring scalability is on its way.
Ethereum Phase Zero Could Be Finalized In June
In March, Vitalik Buterin, the Russian-Canadian founder of Ethereum, took to the stage of Token2049, a blockchain event in Hong Kong, to talk all things about his brainchild. He first explained that Serenity could simply be explained as “a way to bring technical improvements, like PoS and sharding, together to improve the Virtual Machine, Merkle Trees, the efficiency of the protocol, and a whole bunch of small technical things that you have never heard of.” Per the industry insider, this is all being done in a bid to create a “next-generation blockchain” to be hundreds of times faster and scalable than Ethereum’s current iteration.
As it stands, Ethereum has yet to even enter phase zero (there’s a total of three phases — zero, one, and two) of the Serenity integration, but Buterin explains that this is coming. He remarks that phase zero is near-finalization spec-wise, touching on an effectively complete section of a whitepaper that outlines 2.0. Buterin explains that phase zero-related testnets, which are centered primarily around staking, could get launched by what he calls “implementers,” like Parity and others, in the near future.
The post Ethereum Development Keeps Pace With Crypto Boom: Proof of Stake Is On Its Way appeared first on NewsBTC.
NewsBTChttp://bit.ly/2FUbkJa May 5, 2019 at 07:14PM @BruceDayne, @Nick Chong
