Vitalik Buterin Revealed New Details

In December last year, the creator of Ethereum Vitalik Buterin published his proposal on how to accelerate the launch of Ethereum 2.0 — the new version of the Ethereum blockchain on Proof-of-Stake (PoS).

In his article, Buterin described the concept of a “stateless client” — a method that changes the way the account balance, smart contract code, and other information are stored on the Ethereum network. Client information is verified through mathematical proof without storing all data on the blockchain. In other words, Ethereum 2.0 should be made easier.

“The clients basically do the same verification that it would normally do except it doesn’t store the state,” Buterin told CoinDesk. “It just kind of grabs the state in real time and verifies it using [the client’s] Merkle proof.”

Leading developers of the project recently announced plans to launch Ethereum 2.0 this year. As part of the transition from the blockchain to Proof-of-Work (PoW), known as Eth 1.x, Buterin and the Ethereum Foundation proposed launching the current network on the “framework” of the Ethereum 2.0 blockchain until the latter is fully launched. In this case, Eth 1.x will exist as a giant set of transactions until the full transition to 2.0.

“You can copy that state [Eth 1.x] and run it inside of a different Proof-of-Stake chain,” Buterin said. “The account balance and all the applications keep running as is, but the Proof-of-Work chain as it exists would be gone. And there would not even be two separate chains: Eth 1.x transactions and Eth 2.0 would all be in the same block.”

Author: Marko Vidrih

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