- Evidence of Ethereum’s deployment is eagerly awaited by the community as researchers prefer to track the upgrade quickly.
- According to Vitalik Buterin, only an honest miner is required to “merge” with Ethereum 2.0.
- An Ethereum researcher is confident that Ethereum could ship the upgrade in 2021.
Ethereum 2.0 may be available sooner than expected as the community strongly advocates tracking the upgrade quickly.
The upgrade requires at least an honest miner
Vitalik Buterin, co-founder of Ethereum, recently released a “quick merge by changing fork selections” that would allow Ethereum to stop mining soon.
The merger relates to Serenity – from phase 1.5 to Ethereum 2.0 – and marks the transition of the network to proof-of-stake. In the current Ethereum 2.0 roadmap, phase 1 is to be started next. This includes sharding, which would increase efficiency if 64 new chains were added to the network.
The Ethereum community recently talked about pushing the merger ahead of sharding, the politics backed by Buterin.
The document describes a lighter version of the executable beacon chain – a proposal to attach an Ethereum with proof of work to the beacon chain, the currently running Ethereum with proof of use.
Recent tensions between miners and developers of Ethereum over EIP-1559 include burning part of the gas fee with every transaction, which ultimately allows users to pay a fair fee for transactions on the network. The offer to ETH would also be reduced, which would benefit the owners.
While the miners have shown dissatisfaction with the proposal, support has been large enough to be accepted into the London Fork in July. The proof-of-work mechanism costs ETH users over USD 1 billion a month.
With the disappearance of mining on Ethereum’s roadmap, evidence of its use has also come into focus.
Proof-of-Work Ethereum, also known as “ethpow”, only sees the required change that the client must have a communication channel with a trusted beacon node and, according to Buterin, change its fork selection rule.
A quick merger with PoS would only require one honest miner, but of course several honest miners would make a smooth transition to the beacon chain, Buterin explained.
Justin Drake, a researcher working on Ethereum 2.0, showed in his survey results that 86% of respondents are in favor of accelerating the update for launch in 2021. Drake added that he was confident Ethereum could extradite the merger in 2021.