Foresight and coolness are two virtues that are inevitable for a top-level developer and entrepreneur. Amidst the crypto bloodbath, both still apply to Vitalik Buterin, an Ethereum Foundation co-founder. He published a very detailed roadmap of Ethereum (ETH) 2.0 development for the next ten years.
Ethereum 2.0 Phase 0 hand in hand with Ethereum 1.0
The scheme announced by Mr. Buterin is so sophisticated that many of his Twitter followers claim it's impossible to understand. He also highlighted that this roadmap solely represents his own view on how the Ethereum (ETH) network will be developed.
This is my approximate view of what the next ~5-10 years of eth2 and beyond might look like.
Roadmap below reflects my own views, others (including future versions of me) may have different perspectives! Details may of course change as we discover new info or new tech. pic.twitter.com/wynMVC04Ag— vitalik.eth (@VitalikButerin) March 18, 2020
According to his roadmap, Ethereum 2.0 initial stage development - Phase 0 or Beacon Chain - will re-consider some of Ethereum 1.0's elements, including gas pricing, client synchronization, fee policy rescheduling in terms of EIP 1559, etc. As a result, the light Ethereum (ETH) 2.0 client will be integrated into Ethereum 1.0.
After the Phase 0 launch, it will be subject to audits and tests. Once they are finished and specifications are updated, the historic ETH1-to-ETH2 merge will erase Proof-of-Work consensus.
Mr. Buterin outlined that this roadmap is the product of a two-year R&D process that allowed Ethereum to create the perfect design for its future network. Also, great efforts have been made to ensure a smooth transition for the decentralized application infrastructure.
We know much more about the capabilities and limits of proof of stake, security models of sharding, etc etc. Thanks to the hard work of many, moon math like ZK-SNARKs is looking increasingly down-to-earth.
However, this scheme is not final as the team behind the Ethereum network is striving to reduce the complexity of its parts.
According to different estimations, the roll-out of Ethereum 2.0 may occur by mid-year, 2020. They will at least launch its first stage by the end of 2020 in co-existence with Ethereum 1.0.