In this article, Sean Dexter talks about the latest update of Ethereum and the developers' plans for implementing the Casper protocol and sharding system. The Casper FFG protocol with a minimum share size of 1500 ETH was removed from the Ethereum technological roadmap, and Casper v2 with a special beacon chain took its place. Sean also names the expected release dates for the updated Ethereum Casper.
Ethereum-2019 Road Map: Updates, Changes, Releases
If you have not looked into the road map for the development of Ethereum for a long time - many surprises await you! From 2018 and even the beginning of 2019, there have been many changes. There were sudden delays, the deadlines were repeatedly postponed, and priorities shifted (rightly, by the way).
One of the biggest decisions was the transfer of the update of Ethereum Constantinople to 2019. In addition, the network received an updated roadmap called Ethereum 2.0.
Ethereum: updates and deferments!
Recent updates Ethereum confused a lot of people. Many people misunderstand the concept of Ethereum 2.0, but this is not their fault. Important information about updates is buried in the comments of various forums, and news sites provide only vague information. Staying up to date is really difficult.
In this article, we will shed light on the features of the Ethereum 2.0 update (Serenity), on the reasons for the delay in updating the Ethereum Constantinople, on the expected date of the introduction of the PoS protocol, and much more.
Please note: this article has been updated as of the end of January 2019 - a lot could have changed since then. At the beginning of the article we discuss plans for updating Ethereum, which includes a large release of Serenity. Then we talk about the key points in the roadmap, the update of Constantinople and its transfer to 2019. We end with a discussion of the possible date of the appearance of Ethereum Casper and an explanation of the reasons for the delay in the release of the PoS protocol release.
Ethereum Roadmap: Ethereum 2.0, Constantinople and Serenity
Ethereum 2.0
The developers of Ethereum presented a new roadmap and called it "Ethereum 2.0". However, it seems no one understands what exactly is inherent in this title. The kernel development team has been criticized for changing priorities too often; but in fact, their plans remained virtually unchanged - in Ethereum 2.0 they were only more clearly described.
Ethereum 2.0 is not one big release. Instead, it will be divided into a series of updates that will make Ethereum more efficient, faster and more scalable.
Ethereum 2.0 - trilemma solution
Among the most important updates to be included in Ethereum 2.0, I would like to highlight the following:
1. Sharding.
2. Proof of Stake (PoS, "proof of ownership).
3. eWasm.
The combination of these releases will solve the well-known problem of the blockchain trilemma. It lies in the fact that any blockchain is forced to focus only on two things from the list:
1. Security.
2. Decentralization.
3. Scalability.
Nevertheless, Acne Buterin with the Ethereum development team were able to find the right balance between all three variables. It was not easy; but the release of Sharding, Proof of Stake and eWasm will allow it. Ethereum 2.0 will be a very important milestone in the development of the platform.
Constantinople: The Basis of the Roadmap
Another major and long-awaited milestone in the development of Ethereum is the so-called “hard fork Constantinople”. We'll talk more about it in other articles; however, I will also give his general ideas here.
Back in 2016, the Ethereum development team was assigned three major tasks, which were reflected in the roadmap for the development of the platform:
1. Byzantium
2. Constantinople
3. Serenity
Each of these milestones set the stage for Ethereum’s final transition to the Proof of Stake (Serenity). Byzantium provided much-needed security, and Constantinople prepared the platform for the transition to Serenity (Casper V2). Initially, Constantinople was supposed to include a hybrid PoW / PoS model. However, the developers of Ethereum decided to abandon this idea and presented a modified plan. This is what caused the delay in moving along the road map and the transfer of the exit Serenity (transition to the Proof of Stake).
Below, I will explain the reasons for this change in plans and the delay in switching to PoS.
Constantinople plays an important role in the transition of Ethereum to version 2.0. The update will include such important improvements as reducing the reward for the unit, reducing the cost of transactions and support for the so-called State Channels - payment channels.
The hard fork was originally scheduled for January 16, 2019, but was delayed at the last minute due to a vulnerability discovered.
Ethereum development plan for 2019-2021
The Ethereum roadmap will continue to evolve. However, the main objectives for achieving the perfect balance of scalability, security and decentralization have never changed - and they are unlikely to change in the future. Ethereum 2.0 is just a new name for a more specific and clear description of these goals.
Ethereum Casper V2 - still part of the Ethereum 2.0 roadmap!
"Wait a minute, what happened with the support of Ethereum Casper protocol?" - you ask.
Major updates on the road to Ethereum 2.0 include Proof of Stake and sharding. Both of these updates are key components of Ethereum Casper V2. So do not worry: in the Ethereum 2.0 roadmap there was a place for Casper V2.
The image below shows an approximate schedule of releases related to Ethereum Casper.
As you can see, the expected release date of Ethereum PoS is approximately mid-2019. The exact release date of Casper Proof of Stake remains unknown. If you have invested in ETH (or are interested in such investments), I recommend that you follow developments that may cause delays and postponements of these releases. In the next part of the article I will explain the difference between the initial Ethereum roadmap and the updated plans with the second version of Casper.
Date of Ethereum transition to Proof of stake
I know that many of you are very busy people and want to see a quick overview of the Ethereum roadmap and the expected date of transition to PoS. This part of my article is for you.
ETH holders are certainly looking forward to the release of Ethereum PoS. Updating with Proof of Stake will allow them to become validators on the Ethereum network. However, since the beginning of 2018 the road map of Ethereum has undergone many changes, which led to delays. As a result, the date of transition of the network to PoS was transferred to the middle of 2019. But do not hurry to get upset. In fact, for most ETH holders, such a delay is only for the benefit, and I will now explain why this is so.
Delay in switching to PoS - what's so good about that?
The Casper FFG protocol has been canceled; Now we are moving directly to Casper V2. The new protocol will allow ethereum investors to become validators in the network, having only 32 tokens available! This is great news for most ETH owners, and it will also significantly increase the level of network decentralization.
According to the original idea, Casper FFG demanded a deposit of 1000 ETH in the Ethereum Proof of Stake chain. Further, this figure was supposed to decrease only after the release of the sharding system. Up to this point, only large investors could participate in the validation process by proving ownership (Proof of Stake), which would lead to centralization and reduced community involvement.
Fortunately, the Ethereum developers decided to skip this step and decided to build Casper on the same chain that will be used for sharding. It was called the “beacon chain”. Due to this decision, the size of the required deposit for participation in the PoS has decreased to 32 ETH.
Ethereum: original plans
Here I propose to take a look at how the roadmap looked last year.
So, in 2018, Ethereum had two major milestones in its development plans: Metropolis and Serenity. Both were aimed at increasing scalability with the introduction of Proof of Stake and sharding.
Metropolis was divided into two stages:
Stage 1: Byzantine. This update should have brought improvements in security. It happened last year.
Stage 2: Constantinople. This update should have introduced the PoW / PoS consensus hybrid algorithm (Casper FFG protocol). It was supposed to happen in January of this year. However, the priorities of the developers have changed somewhat, and the release was postponed.
This plan was valid until June 2018. The Ethereum Core team then abandoned Casper FFG in favor of something more efficient. As you might have guessed, it was Casper V2.
Casper 2.0: Initial Plan
Initially, the developers planned to switch to Proof of Stake using the Casper FFG protocol. Casper 2.0 was a smart contract that allowed you to become a validator with a deposit of 1500 ETH. This release was supposed to happen last year.
Thus, first, Ethereum had to switch to the Proof of Stake, and only then the development team planned to work on the sharding system. Sharding and Casper provided separate deposit pools.
Let's draw the line:
- Casper FFG was supposed to be a PoS / PoW based hybrid chain;
- in order to become a validator, a deposit of 1500 ETH was required;
- Casper was planned for release in the first place, Sharding - after him.
Casper 2.1: release confusion
Because of some misleading posts and misunderstood comments, many people are completely confused. There are two main expectations for the Casper update:
1. Casper and sharding will be merged and launched together.
2. Sharding will receive priority over Proof of Stake.
Unfortunately, this is far from the truth. And since there is nothing worse than erroneous expectations, I will try to describe as clearly as possible what the Ethereum developers planned.
Casper 2.1: real roadmap
The plan for the implementation of the Casper FFG protocol, which requires deposits of one and a half thousand tokens, was canceled. With the Casper V2 protocol, chains will appear - “beacons”, in which Casper and sharding will be combined - this is where the confusion arises.
This does not mean that Casper and sharding will be simultaneously launched on the same “beacon” chain. In fact, one of them will appear earlier - it can be either Casper or Sharding.
Let's sum up:
- Lighthouse chains will be used both for Casper and for PoS validations;
- Work on sharding and Casper is conducted simultaneously - these are independent things;
- In order to become a validator, a deposit of 32 ETH will be enough.
The chains “beacons” were originally intended to be used only for the implementation of the sharding system.
Analogy for understanding the essence of Casper V2
Update Ethereum Casper V2 confused many. I hope this analogy will help you to finally understand what is happening:
Imagine that Casper and Sharding are two cars heading for a family picnic. To get to the destination, both must enter number 10. We are not sure which car will do it first. We only know that:
- Both cars are sent there (our cars are Casper and Sharding);
- Both cars need to drive along highway number 10 (the highway is a chain- "beacon");
- Everyone needs to get to a family picnic (scalability).
Casper and Sharding are independent projects, and any of them can be completed first. Together, they will set the minimum requirement for a validation deposit at 32 ETH.
Most likely, Casper will be launched first, but we can not exclude the possibility that sharding will be faster.
Ethereum 2.0 and Casper release date: conclusions
Casper FFG's release date was scheduled for 2018. At the same time, the release of the new version of Casper will take place somewhere in the years 2019-2021. Yes, the time frame is very blurred, but for good reason. Let's briefly summarize:
Delayed PoS Release: FFG Failure
As I mentioned above, the original developers plan implied the release of the Casper FFG protocol with the PoS / PoW hybrid consensus mechanism. Casper FFG was supposed to get Proof of Stake (PoS), but at the same time there was no Sharding in it. With the release of PoS, validators should be able to make deposits in order to participate in the consensus mechanism. However, the amount of the deposit should have been 1500 ETH, which was too much and could lead to a significant centralization of the network.
In 2018, the need to scale the platform has become particularly urgent. The Ethereum development team shifted priorities towards key releases that provide a solution to this problem: namely, PoS and Sharding. Casper FFG was supposed to be the first release of PoS, but it would still use the PoW chain. This release was to be held in 2018, and after it was due Sharding.
Priorities have changed: release Casper and Sharding as soon as possible
Casper FFG would allow Ethereum to move quickly to the Proof of Stake consensus mechanism. However, this would lead to a “double job”, since then Ethereum would have to switch to a pure PoS chain. Because of this, the developers decided to stop working on Casper FFG. From now on, they are working on the release of Casper V2 - which will ensure PoS consensus on the “beacon” chain. Since Sharding will also be implemented on a “beacon” chain, this provides Ethereum with a unified approach to releases.
Unfortunately, as a result, the release date of Ethereum Casper V2 is postponed for several years ahead. Sharding will be released on the same “beacon” chain that will be used after the introduction of PoS. But this does not mean that Casper and PoS will appear simultaneously. I estimate the timing of this release in the year 2021. However, there remains a small chance that the long-awaited event will occur earlier.
