Vision Of Ethereum 2.0: Ethereum In The Past.
Ethereum inventor and co-founder Vitalik Buterin outlined his vision for Ethereum 2.0. He spoke about this on November 25 at BeyondBlock Taipei 2017. Buterin described major changes in Ethereum’s architecture that are likely to be implemented over the next few years to improve Ethereum in terms of privacy, safety and, of course, scalability, which was the main focus of Buterin’s talk.
The digital coin’s raising seems to prove Buterin’s vision. ETH’s price has been relentlessly climbing, recently reaching almost $500. It is handling more transactions than all other major blockchains combined. Buterin doesn’t seem to be worried about competitors. He seems to be sure about this new invention, which will provide more developed technology due to performing transactions in system.
Decentralization, scalability and security are among the important properties that blockchain systems should have, but there are conflicts. Off-chain solutions are useful, but limited. According to Buterin, it’s very easy to have two of these properties but very hard to have all three. However, Ethereum’s ambitious goal should be that of achieving all three at the same time. “We want to scale to thousands of transactions per second, on chain, without any supernodes,” said Buterin.