Latest News Within The Ethereum Sharding Development Cycle
“The demand for using public blockchains is high and we need to up the stability in order to meet that demand,” said Buterin.
Though the team indicated that if they could start over with Ethereum, they might implement some additional features straight away, the problem of scaling is “fundamentally hard”, and going forward is the only option.
Like other public blockchains, ethereum intends to support as many users as it can.
The problem is that, today, we don’t really know the limits of the platform.
Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa.
This limitation of ethereum and other blockchain systems has long been the subject of discussion by developers and academics.
What is Ethereum 2.0?
There are two current priorities to improve the Ethereum blockchain, which would create Ethereum 2.0.
The first is Casper, Ethereum’s upcoming proof-of-stake (PoS) algorithm.
“The idea of proof of stake is partly to provide a new superpower to blockchains which is called finality,” said Drake. “The other idea of proof of stake is to reduce the cost of consensus.”
The second component of Ethereum 2.0 is sharding, which is Ethereum’s solution to problems of scalability. It will allow the Ethereum blockchain to cope with more users and transactions without losing speed or becoming congested.
The sharding solution and the Casper update are now being combined, as they have a common infrastructure and will benefit the Ethereum network by being integrated at the same time. The “shards” which will be implemented, communicate with each other via “cross-links” or “checkpoints.” At the same time, Casper will strengthen the checkpoints by giving them added security and scalability.