Prysmatic Labs, a team of blockchain engineers have released Ethereum 2.0 Prysm demo v0.0.0. The team announced the release of the first demo version of their Ethereum 2.0 Shasper [Sharding plus Casper] project, Prysm. In a Medium post, Raul Jordan, blockchain developer and Prysmatic Labs editor has briefly explained its features.
The Medium post read:
We are proud to announce our very first release of Prysm, v0.0.0, which will serve as the building block for all future releases as we get to production. We want to show the community we have a project we have put a lot of work into through careful thought and design decisions that we hope will set a standard for future ETH2.0 developments.
Details of the Release
Raul Jordan further explained that this version is v0.0.0 and not v0.0.1 because there is still work to be done such as wrapping up Phase 0 of Shasper and much more. This version 0.0.0 has a basic beacon-chain+validator demo which can perform various tasks. Following are some of the key tasks:
- Spin up a beacon chain node from a genesis configuration.
- Connect a validator client to the beacon node via RPC.
- The validator client gets shuffled into a specific shardID at a provided slot for each and every cycle transition.
- Validators propose/attest to canonical beacon blocks during their assigned slot.
- A robust, scalable build system known as Bazel used in production at Google, Pinterest, Dropbox, and other industry giants.
- gRPC public API client/server for querying a beacon node for canonical blocks, states, and latest validator assignments.
Ethereum co-founder Vitalik Buterin tweeted:
Excited to be trying out @prylabs's first PoC https://t.co/vjIedCV8UU pic.twitter.com/6Y5HzgJDNZ
— vitalik.eth (@VitalikButerin) October 3, 2018
There are some things which are not included in this release. These are as follows:
- Validator rotation, withdrawals, and dynasty transitions are not yet included.
- Initial beacon chain sync is not fully supported.
- Shards and their associated design are not included.
- Fork-choice rule for ETH2.0 is not included.
- Signature aggregation and verification.
- Randomness via RANDAO and VDF.
- Serialization format for ETH2.0.
- Shardp2p and beacon node p2p peer discovery.
- Shard state execution.
How to Run the Demo?
To run this current release, v0.0.0, as a local demo, users need to run a beacon chain node and a validator client. Users can start a beacon chain from genesis. After that, it can be connected as a validator client through a public key, and propose/vote on beacon blocks during each cycle.
Raul further stated that
Even though canonical blocks are created in the demo due to your activity as a validator, you’ll quickly see not much can be done with these blocks until real, state execution comes into play. However, this beacon chain node+validator client system is a critical piece of consensus and coordination for all actors participating in Ethereum 2.0 and will serve as the foundation for a full-fledged, sharding system.
What’s Next For Prysmatic Labs?
The medium post further explained the future roadmap. The team is currently focusing on various other things alongside the rest of the client implementation teams. The developers also want to work more on randomness generation and signature aggregation on the beacon chain as well as validator rotation. According to them, this is phase 0–1 of the Ethereum 2.0 roadmap because sharding state execution will not come until phase 1 and 2. In preparation for devcon, they will be focusing a lot more on this current release and they will include some of the key pieces they left out.
In the month of June 2018, ETH creator Vitalik Buterin had said that ethereum will soon reach 1 million transactions per second. He had also said that with the help of second layer solutions like Sharding and Plasma, the ethereum network will be able to process 1 million transactions per second. Prysmatic Labs is building a full-featured sharding client, allowing the system to process transactions at over 10x – 100x of its current speed!
Buterin had expressed that second-layer scaling solutions that are right now being tried on the Ethereum testnet could empower the Ethereum blockchain system to support large scale decentralized applications with huge clients by adopting a creative strategy in enhancing the blockchain. He had further explained that if users get 100x from sharding and 100x from plasma then those two together basically give a 10,000x scalability gain. Due to this, blockchains will be powerful enough to handle most applications people are trying to do with them.
Follow us on Twitter, Facebook, Steemit, and join our Telegram channel for the latest blockchain and cryptocurrency news.
Recommended posts
-
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030? -
Topaz Testnet Goes Online Ahead Of Ethereum 2.0 Launch -
Ethereum Merge Event Approaches: Testnets Achieve Important Milestones Before Altair Hardfork
-
PEPE Coin Price to Reach $5 in the Next Seven Days? - ConsenSys Ethereum 2.0 Staking Survey – 65% ETH Holders Plan To Stake
- Ethereum 21% Rally – Fueled By Recent ETH 2.0 Development?
- Ethereum 2.0 – Genesis set for December 1st!
-
Vitalik Sets Out Ethereum Sharding Design - Ethereum 2.0 – Updated Roadmap Pitches “Rollups On Top Of Sharding” Concepts
- “Green” Ethereum Will Soon Reduce Power Consumption By 99.9%
-
Ethereum Merge Timeline Announced With Ethereum 2.0 On The Horizon
- What will happen to Ethereum Price after ETH2.0? Probably THIS!
-
Here’s Why JPMorgan Chase Believes Ethereum Staking Would Become A $40B Industry - Ethereum Berlin Hard Fork Scheduled For April
- Ethereum 2.0 May Launch By Nov 2020 or Jan 2021, Core Devs Reveal
- Eco- Friendly Alternatives to Bitcoin
-
What is Ethereum Merge? – Read This Detail Guide To Know More About Ethereum’s Triple-Halving Event - Ethereum 2.0 – ConsenSys Forms Alliance For Staking Solution
-
Ethereum Staking: Hardware Wallet Ledger Joins
You might also like
More from Ethereum
Vitalik Buterin’s Ethereum Moves: $1.4M Transfer Insight
Ethereum's co-founder, Vitalik Buterin, has made a remarkable transfer to Coinbase, signaling potential strategic shifts in the crypto world. Discover …
Crypto News: Who Will Lead the Next Bull Run? FIND OUT HERE
Which one is poised to be the star of the next bull run? Let's dive into the numbers and make …
Ethereum Price: Vitalik Buterin’s $3.12 Million Move! What Every ETH Holder Needs to Know NOW!
This transaction, while seemingly straightforward, raises some interesting questions. Let's take a look at this Ethereum price article.
