Cryptocurrency news

The developer of Ethereum has proposed a new way to combine ETH 1.0 and NET 2.0

The developer of Ethereum has proposed a new way to combine ETH 1.0 and NET 2.0

Ethereum developer Mikhail Kalinin has published a new proposal that describes the possibility of embedding ETH 1.0 data in the “signal chain” of Ethereum 2.0.

As the launch of the Beacon Chain Ethereum 2.0 nears, developer Mikhail Kalinin has released a new proposal that aims to rid the network of “unnecessary complexity” and help combine the original Ethereum blockchain with the new Proof-of-Stake version of ETH 2.0.

The launch of Ethereum 2.0 is scheduled for December 1 and will begin with the deployment of the Beacon Chain – a separate, at least initially, chain that will introduce a Proof-of-Stake consensus mechanism and coordinate an expanded network of shards and stakes.

Initially, the Proof-of-Work ETH 1.0 and Proof-of-Stake ETH 2.0 blockchains will work in parallel, as it will take about two years to fully deploy ETH 2.0. It is planned that during this period, access to ETH 1.0 data will be provided through an independent chain-shard.

Kalinin claims that this method ” complicates the level of consensus and increases the delays between publishing data in shards and accessing it in ETH 1.0.” To help solve this problem, he published a new proposal called “Executable Beacon Chain”. It describes a system in which ETH 1.0 data will be directly embedded in the blocks of the “signal chain”.

“The ETH 1.0 mechanism is supported by every validator in the system. When the validator wants to propose a block for the “signal chain”, it creates a request for the ETH 1.0 mechanism to create ETH 1.0 data. Then the ETH 1.0 data is inserted into the body of the created Beacon Chain block. If the ETH 1.0 data is invalid, it also invalidates the “signal chain” block transmitting it, ” Kalinin explained.

Ethereum co-founder Vitalik Buterin has already praised the new offer, calling it “excellent ongoing work [Mikhail Kalinin] is doing on the ‘merger’.” Buterin added that “this area of research and development is becoming an increasingly high priority and is being implemented in parallel with sharding and other improvements to ETH 2.0.”

On November 24, 524,288 ETH were collected on the Ethereum 2.0 deposit contract, which is necessary for staking and launching the first phase of Ethereum 2.0 — the “signal Chain” (Beacon Chain). The new version of the network will be automatically launched on December 1, and anyone can become a validator. The editorial board of Bits. media has prepared a
guide on how to participate in the Ethereum 2.0 staking.