Ethereum 2.0 and the Future of Money – Vitalik Buterin Talks with BlockTV News in Paris
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March 4, 2019 video:
Phase 0 launches the beacon chain is in late development and optimization. Expect it to launch in the summer; then proof of stake will finally be will.
Phase 1 brings sharding of data, then after that the rest of the Eth 2.0 road map.
??? is almost done, just an implementation challenge now.
Rollups have gotten a lot of interest; the scaling technique which keeps transaction data on chain but in a very compress form, but pushes computation off chain.
Two methods: ZK-Rollup and then Optimistic Rollup.
They are NOT just scaling payments, but something equivalent to the Ethereum Virtual Machine (EVM).
ZK-Rollups, and Luperin recently launached a ZK-Rollup of their non-custodial exchange.
Theoretically they can do up to 2500 transactions/second as long as everyong becomes a Luperin user.
I expect both of those tech’s to make a big difference in next two years o rmore.
4:20 A lot of progress on Zero Knowledge Proofs…
This month a lot of quiet work going on to do zero knowledge proofs for general computation, which will be great for any ZK-Rollup…
Also great for something else I’m excited about is the growth of privacy.
5:45 A lot of applications that have migrated to private chains are going to become viable on the public chain going forward, as they were formerly limited by 15 transactions per second. Rollup allows about 2500 to 3000 transactions/second, and sharding up to 2,000 to 10,000 a second, and they can be used together to multiply gains. So doing things on main block chain will soon be good enough for many enterprise applications.
7:38 Where is digital currency going? All those will continue to exist. Trend is to more and more digitization (move to blockchains).
Main challenge has been concetnration of power and data collection, central immediaries with a fine degree of control of who can participate and who can’t.
Things that are perfectly legal have often been restricted by these choke points that want to exclude some category of users.