Vitalik Buterin and Justin Drake of the Ethereum Blockchain had several suggestions regarding the community’s questions that have been raised concerning Serenity.
Buterin who is widely known as the creator of the Ethereum (ETH) Blockchain and Justin Drake, who works as a researcher at the Ethereum network, spoke about the Ethereum 2.0 protocol during the most recent Ask Me Anything session via Reddit. The Ask Me Anything session was hosted by the Ethereum Foundation. It reportedly lasted for about 12 hours, where all members of the Serenity (Ethereum 2.0) research team answered questions posed by the community about the Ethereum 2.0 protocol.
Etheruem 2.0 Probably Etheruem Foundation’s Biggest Initiative
The Ethereum 2.0 protocol is considered to be the biggest project that the Ethereum Foundation has embarked on because it includes some major upgrades to Ethereum (ETH) Blockchain. This upgrade is believed to provide the much needed scalability and provide more efficiency to the network. The upgrade from Ethereum (ETH) to Ethereum 2.0 is known as the Serenity phase or final phase of the Ethereum 1.0 upgrade.
The key solutions brought in by the Serenity protocol include changing to the Proof-of-Stake (PoS) consensus protocol Beacon and Casper, Plasma, Raiden, Sharding, eWASM, and zero-knowledge proofs. Buterin had initially claimed that the Ethereum (ETH) Serenity is the going to be a world computer with a combination of multiple features the team has been proposing in the last few years.
Serenity Will Ultimately Focus on Modifications to High-level Languages Like Vyper and Solidity
During the Ask Me Anything session, the Ethereum 2.0 team was asked about the best response for a developer, who’s hesitant to build on Ethereum today, considering the fact that Ethereum 2.0 will take he next few years to expand.
To this, Buterin declared that after the execution and state model for Serenity solidifies, the Ethereum team would begin work with the developer community, where they would focus more on modifications to high-level languages like Solidity, and Vyper. In his words:
“Hopefully at that point how to build an application in a way that it could be redeployed in similar fashion with the 2.0 chain will become clearer. At least that’s what I hope for.”
According to Drake regarding the question:
“Building on the previous Ethereum 1.0 upgrade is great for prototyping and learning. It is also great for assembling a fully-aligned team that is consistent with the philosophy of Ethereum (which may differ from the philosophy of Bitcoin (BTC), XRP, Bitcoin Cash (BCH), EOS, and Tether communities).”
Buterin More Interested in Potential Stakers Feedbacks
Furthermore, Elizabeth Giovanni, another Redditor, asked the Ethereum (ETH) researchers whether they have consulted any economists to help determine the issuance rate of the full PoS (Proof-of-Stake) system as well as the effects certain of these decisions on the network and Ether community in the long and short-term. In response Buterin said:
“In my view at this point the feedback we more interested in is feedback from potential stakers. The key question is basically, are there additional tweaks that can be made to the economics that if given a fixed sort of reward, will encourage more users to validate, and encourage small solo pool of validators as opposed to a fewer large pools.”
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.
