Vatalik Buterin, co-founder of Ethereum Foundation, discussed major update about Ethereum Casper going to the mainnet soon. The community might be releasing the ultimate Ethereum Update, what they called it as Serenity now. The update will be upfront with major blockchain update and hold new consensus protocol.
Devcon 4 is currently holding in Prague and has invited ethereum developers all together to share ideas and new tech in the community.
Vitalik Buterin mentioned recently at Devcon 4 in Prague this week about the update of Ethreum 2.0 and Serenity, and how it promises to make the network faster, more secure and efficient.
The main ideology of the mainnet update in ethereum is to improve the scaling concern, transactions, making the network more secure so that it can handle a wider audience.
The new update will bring about the capability of handling 1000 of transaction per second, which’s currently only capable of around 20 transactions/ second.
They also mention about how their platform is being misused by the ICOs and fake tokens. Later, the community will work on improving the platform’s security and will eliminate scams from the network.
We later heard about Ethereum Casper which is all about Proof-of-Stake along with major updates in the blockchain.
Later, it was heard from them mentioning about Proof of Stake to overcoming Proof of work consensus. With mentioning how POS is important for the future of sustainable cryptocurrency growth.
Vitalik Buterin also mentioned about the ethereum community and how they are working on the VMs and blockchain update.
Ethereum Casper welcomes with Sing-a-long,
We are much excited about the update of ethereum. Ethereum Casper along with POS update is much more exciting than the proof of work consensus.
All these substantially growing the presence of crypto in the existing space. Turning the dice of the financial system, making it more available to a common person to use crypto.