Vitalik Buterin Says He’s "Very Confident" Ethereum (ETH) Fees Will Drop
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After the successful launch of Phase 0 of Ethereum 2.0 called Beacon Chain, which is the first important step to the next iteration of the protocol, Etheruem co-founder Vitalik Buterin published an updated roadmap of what comes next for the project.

The Ethereum network upgrade is divided into phases. Phase 0 is the Beacon Chain where staking is enabled but has no effect on the application layer.

Phase 1, on the other hand, introduces sharding of data and increased storage capabilities without a direct influence on the application performance.

Read Also: Charles Hoskinson Forgets Rivalry, Congratulates Ethereum’s Vitalik Buterin for a Job Well Done

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The final phase, which is Phase 2, completely introduces transaction sharding and enables the expected thousands of transactions per second.

According to Vitalik Buterin in March, the roadmap covers the vision of the next five to ten years. The updated roadmap recently released by Buterin completely removes terms such as “Phase 1” and “Phase 2”.

The updated roadmap covers all Ethereum developments to provide a detailed overview of the next step for the project, including approximate completion bars.

Key Features of the Next Major Milestone

The most important parts of the next major development are the transition of the Ethereum network to proof-of-stake (PoS), the introduction of ETH 2.0 light clients on ETH 1.0, and data sharding. All of these mentioned were previously grouped under Phase 1 and 1.5.

Another major change found in the current roadmap is the realization that the three phases are largely independent and can be worked on in parallel.

Moreover, huge scalability improvements can be achieved by executing on the latter two features, as they would enable hosting rollups on a sharded data structure.

Read Also: Charles Hoskinson Explains Why Cardano Achieved Its PoS Upgrade Faster Than Ethereum

Howbeit, according to Buterin, progress on data sharding and light clients is still below 50%. So, it would take at least a year to fully build Ethereum 2.0 Phase 1.

According to chart, the progress on stateless clients and the Ethereum 1.x initiative is also at less than 50%. Also, cryptographic technology of polynomial commitments that Buterin once said is the key to practical stateless clients is still far from being complete.

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Tobi Loba

By 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.