Ethereum 2.0
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This document discusses Ethereum 2.0 and its goals of improving decentralization, scalability, and energy efficiency over Ethereum 1.0. It outlines the key components of Ethereum 2.0 including using proof of stake instead of proof of work, implementing sharding to partition the blockchain into multiple shards to improve scalability, and transitioning to a new virtual machine. It provides timelines for rolling out these changes and demos running an Ethereum 2.0 beacon node.
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Ethereum 2.0
- 1. ETHEREUM 2.0 Why Ethereum 2.0? Roadmap for Ethereum 2.0 New Consensus Algorithm Sharding Demo
- 2. CHALLANGES WITH ETHEREUM 1.0 Centralization •Code is controlled by a small group of people •Small node count (7.5K as of 3/30/2020) Scalability •Max at ~1.3M transactions per day Energy Waste •Takes more electricity then a small country •22 KWh per transaction
- 4. SCALABILITY
- 5. ENERGY WASTE
- 8. ETHEREUM 2.0 NON-FUNCTIONAL REQUREMENTS Decentralization: to allow for a typical consumer laptop with O(C) resources to process/validate O(1) shards (including any system level validation such as the beacon chain) Resilience: to remain live through major network partitions and when very large portions of nodes go offline Security: to utilize crypto and design techniques that allow for a large participation of validators in total and per unit time Simplicity: to minimize complexity, even at the cost of some losses in efficiency Longevity: to select all components such that they are either quantum secure or can be easily swapped out for quantum secure counterparts when available
- 10. TIMELINE 2020 2021 202? Beacon Chain • Casper Proof of Stake protocol • ETH2 Sharded Chains • Use shards to scale • Crosslinks State Execution • Virtual machine based on eWASM • Asynchronous cross-contract calls • Support accounts, contracts, state, and other abstractions • Truffle, Solc, ganache ported to support eWASM
- 11. SOLVING ENERGY WASTE PROBLEM Proof of stake
- 12. PROOF OF WORK → PROOF OF STAKE Proof of work Miners Miners participate in building consensus Miners validate new transactions and record them on Ethereum ledger Miners compete to solve a difficult mathematical problem based on a cryptographic hash algorithm Miners provide collateral in the form of hardware/hash-power to seek returns in exchange for Proof of stake Validators Validators participate in building consensus Validators post collateral in form of ETH Validators verify and attest to the validity of blocks Validators vote on the next block, and the weight of each validator’s vote depends on the size of his stake
- 13. VALIDATOR Generate private/public key pair Generate private/public withdrawal key pair ETHSubmit deposit Public Key Withdrawal Public Key Deposit 32ETH Wait ~3hrs for activation Work on assignment Assignment Attestation Block
- 14. VALIDATOR COST AND REWARD Cost Computing cost Lockup of 32 ETH Uptime and maintenance cost Security of the environment cost Reward
- 17. SHARDING
- 18. SHARDING BENEFITS No Sharding Very limited throughput (7-15 trans/sec with ETH1.0) Node should process all transactions (download, compute, store, read) Sharding Throughput can be increased by increasing number of shards Only transactions within the shard should be processed Each one of the shards will have as high a capacity (and likely more with phase 1) than the current existing Ethereum chain.
- 19. SHARDING ROADMAP PoS beacon chain without shards Basic sharding without EVM EVM state transition function Light client state protocol Cross-shard transactions Tight coupling with main chain security Super-quadratic (exponential) sharding
- 20. DEMO
- 21. START VM ON GCP
- 22. ate tall apt-transport-https ca-cer gnupg-agent software-properties-com ://download.docker.com/linux/debian/gpg - ository "deb [arch=amd64] https://do inux/debian s) ate tall docker-ce docker-ce-cli containerd.io INSTALL DOCKER
- 23. docker run -it -v $HOME/prysm:/data -p 4000:4000 -p 13000:13000 --name beacon-node gcr.io/prysmaticlabs/prysm/beacon-chain:latest --datadir=/data RUN BEACON CHAIN
- 24. WAIT FOR THE NODE TO SYNC-UP
- 26. STAY IN TOUCH Gene Leybzon https://www.linkedin.com/in/leybzon/ https://www.meetup.com/members/90744 20/ https://www.leybzon.com
Editor's Notes
- #3: https://medium.com/swlh/ethereum-isnt-decentralized-and-other-myths-ef2d132ee1fe https://etherscan.io/nodetracker
- #4: https://www.buybitcoinworldwide.com/ethereum/mining-pools/
- #5: https://etherscan.io/chart/tx Ethereum max block size is 200Tx, blocks are created every 10-20 sec, 15Tx/sec is max rate resulting in about 1,296,000 transactions per day
- #6: https://www.techpowerup.com/234959/cryptocurrency-mining-consumes-more-power-than-17m-population-country#g234959-2
- #7: https://www.coinbase.com/price/ethereum
- #9: Danny Ryan https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-2.0-phases/
- #11: https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-2.0-phases/ Ethereum flavored WebAssembly (ewasm) https://github.com/ewasm/design
- #14: https://github.com/ethereum/eth2.0-specs/blob/dev/specs/phase0/validator.md#becoming-a-validator
- #15: https://our.status.im/two-point-oh-explaining-validators/ https://media.consensys.net/examining-the-proposed-validator-economics-of-ethereum-2-0-82b934fb4326
- #16: https://www.balena.io/blog/what-would-you-do-with-a-120-raspberry-pi-cluster/
- #17: Solving performance problem
- #18: https://hackernoon.com/sharding-and-the-scaling-of-a-blockchain-ii-e88v31bv
- #19: https://github.com/ethereum/wiki/wiki/Sharding-introduction-R&D-compendium#implementations
- #23: https://docs.docker.com/install/linux/docker-ce/debian/
- #24: https://github.com/prysmaticlabs/prysm/blob/master/README.md
- #26: https://prylabs.net/