Ethereum 2.0: Latest Updates For 2020



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⏰ Time Stamps ⏰

1:20 Introduction
3:03 Mining Challenges of ETH 1.0
4:14 Scaling Challenges
5:21 Ethereum Proof-of-Stake
7:21 Beacon Chain (Phase 0)
8:37 Sharding
10:41 Shard Chains (Phase 1)
11:20 State Execution (Phase 2)
12:30 Etheruem 2.0 Timeline
14:27 ETH Price Potential
17:18 Conclusion

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⛓️ 🔗 Helpful Links 🔗 ⛓️

► Ethereum 2.0: https://github.com/ethereum/eth2.0-specs
► Casper FFG: https://arxiv.org/abs/1710.09437
► EthHub Ethereum 2.0: https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-2.0-phases/

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📰 Referenced Material 📰

► What is Gas: https://ethereum.stackexchange.com/questions/3/what-is-meant-by-the-term-gas
► Ethash Algo Explained: https://www.vijaypradeep.com/blog/2017-04-28-ethereums-memory-hardness-explained/
► Proof of Stake Ledger: https://www.ledger.com/academy/blockchain/what-is-proof-of-stake/
► Sharding Presentation: https://docs.google.com/presentation/d/1G5UZdEL71XAkU5B2v-TC3lmGaRIu2P6QSeF8m3wg6MU/edit#slide=id.g3bd4583ed6_0_54
► Staking Calculator: https://www.stakingrewards.com/asset/ethereum-2-0
► MIT Piece on Devcon: https://www.technologyreview.com/s/612507/ethereum-thinks-it-can-change-the-world-its-running-out-of-time-to-prove-it/

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📝 Ethereum 1.0 📝

Ethereum is a Proof-of-Work blockchain that allows users to build their own decentralised applications. iIt is a smart contract platform that supports a generalised scripting language.

The project was envisioned to be a global decentralised computer. This global decentralised supercomputer would execute anyone’s code in exchange for a fee

📈️ Scaling Challenges 📈

Ethereum is struggling to scale because it uses proof of work consensus.

Things have grown considerably since then and so have the number of dApps and transactions.

This has resulted in blockchain bloat that has greatly slowed the network down. Simple dApps like CryptoKitties have brought blockchain to a standstill.

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Another problem comes from the fact that all transactions and dApp computations have to be confirmed by all nodes on the network. As the network has grown so too have the number of nodes.

If you have a simple dApp that you want to run on the network, all of these nodes will have to agree before the dapp can compute.

👨🏼‍💻️ ETH 2.0 Features 👨🏼‍💻

Casper Proof of Stake will be the first update that can help Ethereum scale. The Etheruem devs have been working towards proof of stake since 2017. What was initially proposed was a hybrid proof-of-stake proof-of-work consensus mechanism called “Casper the Friendly Finality Gadget”.

The Ethereum developers are also working on a solution to the issue of a singular blockchain. They want to implement sharding on the blockchain and have seperate shard chains.

These features will be rolled out in phases as per the Ethereum 2.0 roadmamp. Phase0 is the beacon chain which will be the transitory blockchain operating on PoS

Phase1 will introduce the sharding and shard chains.

In phase 2, the functionality of the entire system will come together. The shard chains will move from the simple data structure that they were in phase 1 to a structured chain state with smart contract functionality.

🗓 Development Progress 🗓

ETH 2.0 is not expected to launch in its entirety in the first half 2020. However, the developers are confident that phase 0 will launch in 2020. According to Ethereum researcher Justin Drake, he has “a 95% confidence we will launch in 2020”.

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He also went on to say that phase 0 and phase 1 are respectively 99 and 90 percent complete

💰 Staking 💰

The upgrade to 2.0 also brings with it the ability to stake. Users with over 32 ETH could eventually start earning a staking return. The exact rewards are just estimates right now but the consensus seems to be about 5 to 6%.

More demand for Ethereum to stake could lead to an uplift in price. You also have broader positive sentiment across the markets which has driven Ethereum over the $200 level.

Over the long run, as the utility of Ethereum increases, so too could demand.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Ethereum #ETH #crypto #Sharding #Staking #blockchain #casper #smartcontract #dApps

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46 Comments

  • WOW!!! ETH WAS $200 !!!!!🙃

  • At least another year in waiting..

  • so much for that 95% 2020 confidence rating

  • Hi ,thanks for the video , what going to happen with ERC20 ? I have around 100k USDT in my ledger nano , should I move it to exchange for this update ? Much appreciate if you could give me advice

  • No one does it better than KLAXONSTOOLS COM .they are super legit in their hacks . I'm grateful

  • https://www.crypto-dollar.io/

  • What do u think about ZILLIQA?

  • This will take years to implement

  • Glad you mentioned Zilla. You can’t teach an old dog new tricks so they say. I have my money on new dog on the yard.

  • it's yesv according how it changes the situation right now

  • 16:10 : "Am I advocating crypto staking instead of your traditional bank account? No" wink . Got that, thanks

  • Watch at Min 1.5x speed …. you’re welcome

  • Without ICOS ETHEREUM is useless🤔

  • i cant wait for the upgrade to 2.0 its going to be epic!!! one thing i hope is once the upgrade has taken place i wish to see the Ethereum embalm changes color say a red/maroon/pearl shade and keeps on evolving as the upgrade continues. Hope Ethereum ceo are takig notes lol… thanks for your great work pal and i hope to continue to learn from your research, respect mate…..

  • Vitalik Buterin is a genius that rocks. He looks like Casper the Friendly Ghost. 👻
    I believe that the currency reuse is a huge part of the answer, and I believe that the internet deserves and requires a native currency and that's why I am such a huge believer in Bitcoin. —Jack Dorsey
    Bitcoin is the currency of the future. 💸
    Ethereum will democratize AI and machine learning. 🤖

  • CTSI CRYPTO IS DROWNING..ANY CHANCES TO GET HIGH

  • Will my investment of Ethereum 1.0 tokens be automatically converted to 2.0?

  • Ultimately this is why BTC is the GOLD standard – it does what it set out to do…..works a cyber currency and is successful. Etherium 2nd to BTC as a currency – but who actually uses ETH for what it was designed for?????? Ripple/XRP is crap as a token, but, commercially viable and becoming successful in mainstream business. How many other crypto currencies are actually used for what they were designed for? Sweet Fu*k all, maybe at best a hand full. They are blockchains with no practical use…pump and dump scams?

  • How exactly will the Hard Fork look like? Will there be a seperate ETH2.0 currency besides of the current ETH? Or will the current ETH just be "updated" to 2.0? It means… Does it make sense to buy ETH now or should I wait til 2.0 launches? Thanks!

  • hey there! thanks for the video 🙂 could you please make proper subtitles, so i can understand each word even if not native speaker? thank you!

  • Very good explanation of sharding Coin Bureau!

  • Will be phase 0 release on july. Basically a whole bunch of hype.

  • https://gandhiji.io/ind/?karma=0x9911534606197b8ef55b67f176973690be5283fa most legit project on ethereum blockchain hands down!!!

  • 5% on what base ? ico ? purchased price ? or else ?

  • Since bad boys 2!?! That feels like a middle ground, lost me. Bad Boys is an OK film. Guess it's meant to be in jest, but alas you see the problem, perhaps this guy just really likes bad boys 1.

  • Any chance you could make a tutorial on how to participate in the proof of stake program

  • Sharting

  • ㅂㅅ

  • Those who have eth or buy eth at pow, when it changes to POS, then will it automatically converted no matter where one stored his eth, and will there be any fork in impplementing eth 2.0

  • Thanks for great informative videos could you make a video on how to pick a good token with promising future like what you,, evaluate Tezos and chainlink

  • Have i heard about the merging of eth and etc for ethereum 2.0, theres a article saying is possible they only want to see what the community wants or agree to it

  • Thanks for great videos you do. All is clear and simple as possible. As you mentioned Zilliqa is already implimented sharding and now is on its main net. Maybe in future Zil will be a huge ETH competitor .

  • maybe Tezos will replace eth over time, XTZ&LINK will lead the next bull market.

  • We already have ETH 2.0 it's TRON

  • Mate , wud be great to hear your views on neo 3.0 and neo potential

  • How can i join

  • Nice video..does this means that demand for ETH will be high and price increase?

  • From my understand Ethereum is literally re-writing the whole thing again to catch-up with modern-day blockchains…. it's like General Motors scrapping up their traditional cars and going all in on electric cars without loosing market share…..

    Eth 2.0 is the only Eth killer 🚀

  • please check this coin "Veles" (VLS) and review for me in personal message or a video its upto you.

    describes itself as a multi-algorithmic cryptocurrency with a dynamic block reward system and dynamic non-linear halving system. It aims to implement decentralized VPN solution with multi-hop support.

  • Are you the voice of jumanji???

  • Stake for the steaks fam!

  • Thank you for the conclusion portion of the video. Nice summary of points you made that other YouTubers don't do. It helps internalize the points

  • great most crypto channels are junk food for ADHS, this is actual technical information! There is a difference between parallel and distributed computing: afaik distributed computing is state machine replication (like distributed consensus aka "crypto") and parallel computing is something like mining, rendering, weather simulation "embarrassingly parallel" stuff. Now Im not sure but sharding in Ethereum should be both.

  • ill have to start mining something else then. oh well. ill be out

  • What would be the prize of eth 2.0

  • Great summary of essential information on ETH 2.0. Thanks for all your work, Colin.

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