Development team outlines potential of Ethereum 2.0

September 10, 2018
Chris Wheal

The development team at Rocket Pool has delivered a upbeat status report on the development of the Ethereum 2.0 project.

Rocket Pool

Rocket Pool is a decentralised Ethereum proof of stake (PoS) pool

Rocket Pool is a decentralised Ethereum proof of stake (PoS) pool. Last month a post by its senior blockchain developer, Darren Langley, explained: “Spend more than five minutes in the blockchain space and you hear that scalability is a problem.

“The current Ethereum blockchain can process 15 transactions per second but to reach its full potential it would need to handle thousands of transactions per second. Ethereum wants to do this: on-chain and without resorting to masternodes (that reduce decentralisation and compromise security).

Ethereum 2.0 addresses scalability, but it also considers sustainability, efficiency, and flexibility. It combines several streams of work and will be rolled out incrementally over the next few years.

Aim of the project

In its update, the development team confirms that the focus of Ethereum 2.0 is to provide a substantial amount of onchain transactions along with time balance decentralisation and security. They believe it has the potential to build new economic systems and become a hub for global collaboration. The project is not being developed by a single corporation and is said to be decentralized on numerous levels.

The development team states:“Ethereum is operationally decentralised (no single entity is responsible for keeping the blockchain running).”

A range of topics

The team has included topics such as Signature aggregation, Fork Choice, peer-to-peer (P2P) communication and cross-shard communication; all still in the early stages of research, the development team requires time to finalise on them.The Ethereum foundation is developing a reference implementation client in the Python programming language.

Several teams have been researching and developing a beacon chain and a sharding client such as Prysmatic Labs to develop Prysm, Sigma Prime to grow Lighthouse, Status to advance Nimbus and PegaSys to develop Pantheon.

Rocket Pool maintains individual teams at different development stages in implementing the Ethereum 2.0 specification. Each team is working on advancing a beacon chain client, which Rocket Pool regards as central to the Ethereum 2.0 vision.

Progress in developing the beacon chain includes work carried out in the data structures and persistence of the beacon chain state. There has also been progress in the transition of per block state and fork choice implementation.

Rocket Pool’s team has also furthered the development of validator shuffling, block proposal role, serialisation of the data structure and developing P2P protocols.

Rocket Pool concludes its update by stating:“An essential process being discussed is the need for a common testing language that encodes test cases — enabling researchers to define a bunch of tests with expected results that each team can use to validate their implementation against the specification, providing consistency across the different teams.”

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

Related News

OL DEX is closing all activities April 25, 2020
USDT (ERC-20) Gateway Enabled April 17, 2020