February 4, 2023

Ethereum 2.0 Talks on Proof-of-Stake Progress

Ethereum 2.0 Talks on Proof-of-Stake Progress

The Ethereum community expects the network to transition from the Proof-of-Work consensus algorithm to Proof-of-Stake, also known as Serenity. Proof-of-Stake will be implemented as you complete the three phases: Phase 0 [Beacon Chain], Phase 1 [Shard Chains] and Phase 2 [Execution Layer].

For research and development of EthereumThe Foundation, along with ConsenSys, provided grants to several projects, one of which is the Quilt team. Project developer Will Villanueva, spoke about the role of the team in the development of eth2.

Phase 0 deployment scheduled for firstquarter of 2020. The main focus of the Quilt team is the research and development of Phase 2 eth2. Before proceeding to the implementation phase of Phase 2, Villanueva elaborated on the first phase of eth2.

Phase 0 is where the shards move forward, and basically do the registration or cross-link processing in the Beacon Chain, ”he said.

According to him, the team has made progress at this stage, but a lot of work remains to be done to advance it.

Phase 1 mainly focuses on ensuring the stability of shards, and at this stage they will be implemented reduction from 1024 to 64 shards. He also said:

This is of great value if you havetwo-way bridge between eth1 and eth2. This means that eth1 can access the data from these shards natively. And so this is the kind of value that Phase 1 brings to eth1.

However, Phase 2 is the stage at which shardscome to fruition. At the same time, it is expected that the transition from Phase 0 to Phase 1 will be quite quick, but it will take more time to transition to Phase 2. As the community approaches Phase 1, Villanueva suggested that much work had already been done directly in Phase 0.

He also said that three teams are currently working on promoting Phase 2.