Categories: Ethereum

The Code for Ethereum’s Consensus Change Is Now Ready for Review

Click here to view original web page at www.coindesk.com

New code written to change the way the ethereum network reaches consensus is now ready for review, developers said Friday.

Ethereum improvement proposal (EIP) 1011, known as Hybrid Casper FFG (short for "Friendly Finality Gadget"), would implement the first step in a long-planned shift away from the energy-intensive mining process and toward towards a greener method sometimes called "minting."

Ethereum's current consensus protocol - the way the network agrees to add a new block to the chain - is called proof-of-work and requires resources to be expended as its "proof."

Ethereum's creator Vitalik Buterin and other developers have discussed eventually moving to a proof-of-stake model, in which users lock ether up in special wallets and risk losing these "stakes" if they don't follow the consensus rules. That planned transition to proof-of-stake is known as Casper.

EIP 1011, if implemented, would bea first, partial step toward the full move to Casper, introducing a hybrid system that combines proof-of-work and proof-of-stake, an approach discussed in papers unveiled last year.

Casper, while long in the making, is still controversial in some quarters - for example, a security researcher at VMware called it "fundamentally vulnerable" last month.

Yet Danny Ryan, one of EIP 1011's authors, along with Chih-Cheng Liang, told fellow developers during a meeting Friday that the proposed code is "ready for review, community discussion, etc."

Ryan added that development work for ethereum clients could begin soon and that he was corresponding with the formal verification engineers.

"As these pieces of the puzzle are getting closer to being completed," he said, "I'll signal that it's time to start talking about fork block numbers."

As Ryan suggests, the change will not be compatible with existing ethereum software, meaning that the network will have to undergo a hard fork to be implemented. That said, there's still some way to go before that happens.

"In terms of testing ... I don't know when exactly that happens," Ryan continued, adding that he would "leave the EIP up for discussion a little bit longer before we start doing testing on that side."

Code image via Shutterstock.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Ethereum improvement proposal (EIP) 1011, known as Hybrid Casper FFG […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Opinion: We Want Bitcoin Results, Not Predictions

Is it safe to say that people are tired of talking about bitcoin? While not necessarily bored by it, they… Read More

5 hours ago

THE BLOCKCHAIN IN ADVERTISING REPORT: Blockchain’s potential to reduce ad fraud and how marketers can get ready

This is a preview of a research report from Business Insider Intelligence . To learn more about Business Insider Intelligence,… Read More

5 hours ago

Blockchain Technology Market 2019 Emerging Technology Research Report by Key Players- Microsoft ,Samsung, IBM, Deloitte,BTL Group, Linux Foundation

New York, NY 16 Sep 2019: – According to a new study published by Polaris Market Research the global blockchain… Read More

5 hours ago

Blockchain to transform most industries in 5-10 years

(Image: Stockfresh) Pro 16 September 2019 | 0Research firm Gartner, whose past evaluations of blockchain have been conservative to say… Read More

5 hours ago

Bitcoin was Facebook’s first choice says Abra’s CEO

Bill Barhydt, CEO of Bitcoin investment platform Abra , claims that Facebook staffers told him the company wanted to use… Read More

5 hours ago

Is This The Biggest Threat To Bitcoin, Crypto, And Facebook’s Libra?

Bitcoin and crypto investors were put on notice this week when French and German government officials backed European Central Bank… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More