Ethereum 2.0, also known as Serenity, became one of the most anticipated network upgrades after Ethereum pushed its earlier December 2020 release date into 2021.
With the Ethereum (ETH) network upgrade and hard fork scheduled to happen on the ETH mainnet at a block height of 13,773,000 or approximately December 9, 2021, 20:00 (UTC), the co-founder of Ethereum, Vitalik Buterin, has released the Endgame (a roadmap) for the network.
Ethereum’s ‘Endgame’ is Here The upcoming network upgrade will see the Ethereum network transition away from its current Proof-of-Work (PoW) algorithms – also used by Bitcoin – into the Proof-of-Stake (PoS) consensus algorithm.
The roadmap Buterin envision includes “a second tier of staking, with low resource requirements” to carry out distributed block validation.
The upcoming network upgrade will also introduce “either fraud-proof or ZK-SNARKS to let users directly (and cheaply) check block validity” directly. In addition to being cheaper, this feature will add an extra layer of security to the Ethereum network.
Buterin also outlines the introduction of “data availability sampling to let users check block availability [and] add secondary transaction channels to prevent censorship.”
On The Flipside
- With the huge improvements coming, users have raised concerns about Endgame making the Ethereum network more centralized
Buterin’s solutions, if implemented, also promise very high block frequency and high block size for the Ethereum network.
Why You Should Care?
Network fees depend largely on the condition of the blockchain. Improving the network condition of Ethereum could be the Endgame for high transaction fees that have long plagued Ethereum.
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