The core infrastructure behind ethereum 2.0 might be in for a major redesign. Dubbed the beacon chain, a new proposal by ethereum founder Vitalik Buterin suggests radically modifying the blockchain’s role in a new iteration of the ethereum network based on proof-of-stake consensus.
“The idea here is that basically on the beacon chain, you’re going to be able to deploy these little worlds that summarize how a blockchain works, how a state transition works, [and] how a smart contract works,” Raul Jordan, co-lead at non-profit Prysmatic Labs, told CoinDesk.
Prysmatic Labs is one of a dozen or so teams building software to support a highly-scalable and energy-efficient version of the world’s second largest blockchain based on proof-of-stake consensus.
According to Jordan, the proposed beacon chain design by Buterin “makes it a lot easier for application developers, people building on [ethereum],” to leverage the new network without having to re-learn the parameters of an entirely new blockchain platform.
This is welcome news to many application developers on the world’s second largest blockchain platform, who for years have been anticipating the ethereum 2.0 upgrade without fully understanding what it will entail.
“How do we get to proof-of-stake? How do we implement sharding? How do we get there safely? And what does it really mean for the ecosystem and developers in the ecosystem?” asked CEO of crypto wallet application MyCrypto Taylor Monahan in a past interview with CoinDesk.
While many aspects of ethereum 2.0 are still highly subject to change and further research, the latest proposal by Buterin suggests interesting new dynamics to simplify how decentralized applications (dapps) are deployed on the estimated $26 billion network. coindesk.com