Sunday, January 24, 2021

Ethereum 2.0 Phase 0 Expected to Be Launched Soon; Vitalik Buterin Objects zk-SNARKS

As reported by coinpost.jp, Ethereum (ETH) developer Danny Ryan explained the progress and features of ETH 2.0 while answering questions from community members of r/ethfinance during a podcast on 30th May 2020.

In the course of the podcast, Ryan stated that Ethereum 2.0 Phase 0 is expected to be soon introduced. Also, Ethereum co-founder Vitalik Buterin objected to the idea of Ethereum 3.0, which introduces “zk-SNARKS”.

ETH 2.0 Phase 0 to Be Launched Soon

According to Danny Ryan, the development of Ethereum 2.0 is currently focused on the construction of the “beacon chain”, which is the basis of ETH 2.0.

He added that the development of Phase 1 that introduces a slice chain for linking to the beacon chain is progressing, and the launch of Phase 0 will play out soonest.

Ryan also stated that the goal of the team is to make the entire Ethereum community engage in and connect with as many customers as possible.

Going by the podcast, Ryan understands the community’s concerns about the uncertainties of the 32ETH lockup period for running validator nodes and the overuse of staking services. He also stressed the necessity to create penalties, in order not to fall into the centralized structure of the validator.

Ryan said, “We’re trying to get the whole Ethereum community involved and get the network across as many clients as possible.”

Vitalik Buterin On zk-SNARKS

The co-founder of Ethereum (ETH), Vitalik Buterin, stated on Reddit that he does not support the idea of Ethereum 3.0, the quantum privacy protection technology “zk-SNARKS.” This idea of zk-SNARKS was proposed by some developers in the Ethereum community.

(Note: ZK-SNARKS is a blockchain privacy solution that compresses large amounts of information into small samples called STARKS and uses zero-knowledge to protect the privacy of the information.)

Vitalik Buterin said, “At this point, we hope that the basic structure of Ethereum will never change after the launch of ETH 2.0.”

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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