U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Ethereum (ETH) 2.0 Beacon Chain Redesigned: Introducing Gasper

News
Mon, 03/09/2020 - 12:47
Vladislav Sopov
Vitalik Buterin, father of Ethereum (ETH) network never stops exciting the community with splendid technical ideas. Today, it's a new version of ETH2 initial stage design
Cover image via www.shutterstock.com
Contents
Put your crypto to work
10
BTC
  • $68.96

    Interest per week

  • $3585.7

    Interest per year

  • 4.15%

    Interest rate

Join Now!

Despite the fact that the first stage of Ethereum (ETH) 2.0 is to be rolled out in 2020, its design has been rescheduled one more time. Now, it is called Gasper since it is based on Casper protocol and GHOST fork rules.

Gasper, an idealized Ethereum 2.0

Today a group of Ethereum (ETH) researchers led by Vitalik Buterin of the Ethereum Foundation, released a paper 'Combining GHOST and Casper' to describe the construction of Beacon Chain, the initial phase of the Ethereum (ETH) 2.0 Proof-of-Stake consensus.

The new instrument, Gasper, will use a Casper algorithm:

that marks certain blocks in a blockchain as finalized so that participants with partial information can still be fully confident that the blocks are part of the canonical chain of blocks.

That said, the GHOST fork-choice rule reconsiders the way validators attest to blocks to signal support for the next block in the blockchain. At the moment, Gasper is an 'idealized' concept of what Ethereum (ETH) 2.0 Phase 0 (Beacon Chain) should look like.

Unexpected release

Despite being brilliantly detailed in terms of technology, this announcement may be confusing for the Ethereum (ETH) community because it is being published three months prior to the expected date of the ETH2 roll-out. Does this mean the launch will be prepared in zeitnot - or delayed?

Related
Ethereum 2.0 Developer Revealed the Potential ETH 2.0 Launch Date

In December 2019, the fifth anniversary of the Ethereum (ETH) mainnet which occurred July 30, 2020, was mentioned in the first discussions of the ETH2 launch date. One month later, the devs agreed that the 'mid-year' range would be a better timeframe for the PoS-migration of the second blockchain.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Recommended articles
Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
XRP Price to Reverse After Reaching $0.20: Trader Explains Why
Bitcoin (BTC) Price Likely to Enter $7,200 Zone If the Following Happens
8,502 BTC Wired by OKEx and Anonymous Wallets – Where Will BTC Price Move Next?