In a post on the ConsenSys site published on last week, one of the co-founders of ConsenSys, also a managing partner at DARMA Capital, Andrew Keys, shared his predictions about numerous issues that are important to the world today. Ethereum next generation is on its way.
According to Andrew Keys, with the current state of development, Ethereum’s Serenity will launch by the end of this year, “2020 will see Ethereum move stridently beyond Phase 0 of Ethereum 2.0, onto Phase 1 and the launch of shard chains,” according to Keys.
The recent Istanbul hard fork which introduced several improvements and adjustments was the last stage in Ethereum 1.0.
There are some of the core Ethereum Improvement Proposals (EIPs) that went into the upgrade, were closely related to Zcash (ZEC). EIP-152 improved interoperability with the actual Zcash blockchain, and EIP-1108 made optimizations for cryptography routines leveraged by projects such as Aztec and Zether.
More Upgrades for Ethereum Coming
The same powering Zcash shielded transactions, SNARK zero-knowledge technology is used in Aztec Protocol to introduce confidential transactions within the Ethereum (ETH) blockchain.
On a basic level, SNARKs’ Zk Sync technology would allow offloading of the majority of transactional computations off-chain by using a zero-knowledge proof to guarantee their correct execution. Matter Labs is attempting to leverage SNARKs. Meanwhile, Plasma is focusing on creating sidechains for specific use cases.
CEO of ConsenSys Joseph Lubin explained in a 2019 interview with Cointelegraph:
“Plasma is this class of technologies that enable you to have less decentralized platforms sitting at layer two in the Ethereum ecosystem. They can benefit from the full trust in some cases — sometimes they benefit from partial trust — but if they're linked in really rigorously, they can benefit from the full trust of the base trust layer, and you can get the best of both worlds.”
More Progress Expected in 2020
However, these technologies have not yet appeared, and only Aztec is expected to launch its cryptography engine this month. In a blog post, Matter Labs revealed that it would launch a smart contract framework this month, but not the full scaling technology.
A non-profit research group, Plasma Group, stated that their theoretical work on the technology is complete, but the group failed to indicate specific implementations underway.
When asked by Cointelegraph whether 2020 will feature working sidechain solutions, Afri Schoeden, a former Parity Technologies developer replied:
“No. We will see COSMOS maturing, Polkadot launching maybe, and Ethereum 2.0 finally taking shape. But we are still far away from viable solutions that would work in production.”
While progress may not be as quick as some would hope, Ethereum is demonstrating that crypto technology can grow to tackle new challenges. 2020 promises to be an existing year for crypto, and Ethereum in particular.