January 29, 2023

Buterin wants to accelerate the transition to Ethereum 2.0 with a new type of validator

Buterin wants to accelerate the transition to Ethereum 2.0 with a new type of validator

Ethereum founder Vitalik Buterin proposed an alternative option for switching to the second version of the platform, in which universal validators will be used.

According to him, the use of a new typevalidators named eth1-friendly-validators will require fewer changes to the network architecture to achieve the goal. At the same time, an alternative approach involves a transition procedure similar to that described previously.

In fact, Buterin suggests using a compatible type of validator that can support how the Ethereum 2.0 blockchain and the full Ethereum 1.0 nodes.

However, he adds that such a transition optionmay affect the cost of operations, since an additional 1-2 units of gas per byte of code will be required to call a smart contract. Although some applications may become less viable, conventional ERC20 transactions (including DAI) will rise in price by only 5-10%.

Launch of the first phase of the transition to Ethereum 2.0 scheduled for January 3, 2020. However, the process of a full transition can drag on for years and is associated with potential risks for users. For this reason, the Coinfloor exchange plans to exclude ether from the list of trading instruments.