Here are the most important headlines of 22nd November 2018:
Ethereum Bears Bring Good News For The Network The Ethereum’s future transition from proof-of-work to proof-of-stake seems to gain a lot of attention in 2018. On 31st October 2018 at the DevCon 4 – Serenity was announced. Before the announcement, Buterin declared:
[Serenity] is a realization of all of these different strands of research that we’ve been spending our time on for the past four years. This includes Casper—not just hybrid Casper, 100% organic, genuine, pure Casper.
Moreover, he addressed the main issues of the network – such as transactions sometimes taking hours to be confirmed. Also, the new chain will have a way smaller size – 1GB. If Serenity would work properly, the transaction could be confirmed into a matter of seconds. He explained further what Serenity is:
Serenity is a new blockchain in the sense of being a data structure, but has a link to the Proof-of-Work (PoW) chain. The Proof-of-Stake (PoS) chain would be aware of the block hashes of the PoW chain, you’d be able to move eth from the PoW chain to the PoS chain.
So it’s a new system, but it is a connected system and the long, long term goal is that once this new system is stable enough, then basically all of the applications on the existing blockchain can be sort of folded into a contract on one shard of the new system that would be an EVM interpreter written in eWASM.
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