The first ETH 2.0 hard fork is coming
The second version of digital silver is working successfully, delighting users and investors. Nevertheless, of course, such a large system at the start cannot function without problems. It is almost impossible to create such a global platform, even if based on the first protocol. And at the same time avoid the shortcomings. That is why the developers are gradually optimizing their own creation, offering us hard forks. The first of these will soon take place in ETH 2.0. Below we will tell you everything that is known about the upcoming update. So let’s get started.
The update became known from the publication of the founding father of the project – Vitalik Buterin. The developer and mastermind of the company said that in the near future the industry will see the first major update to ETH 2.0 after the update. The developers plan to make major performance improvements, as well as fix many minor bugs. For example, the complexity of the specification must be addressed. Now, this process takes an unforgivable time, significantly reducing the comfort of using the coin. That’s why the hard fork, tentatively named HF1, will fix this issue. The changes will also affect the policy of penalizing validators who are not sufficiently active. The sanctions for inaction will be slightly reduced. This will allow many validators to use the functionality more calmly and not be afraid of excessively high penalties.
The update is important enough as it forms the foundation for future innovations. At this stage, finding even small faults is extremely important, since the system has a great future. Developers understand that by ignoring the obvious inconvenience, they risk losing user confidence. Therefore, they are responsible for the opinion of the community. We will talk about the upcoming innovations in ETH 2.0 in the next section. Immediately, we note that we will talk about fairly long-term plans. All of the developments below are likely to be implemented. But the creators of the project have not announced any specific dates yet.
What will ETH 2.0 add in the future?
The creators of digital silver really have big plans. You don’t have to worry about the future project, since well-known and proven developers are responsible for the development and support of innovations. The plans include the introduction of sharding, as well as a merger with the first version of the coin. Yes, over time, ETH will become an asset in a holistic platform. In which the so-called “light clients” will work. These are separate versions of the Blockchain, lightweight and with reduced functionality. The solution is useful for smartphone users. And those who want to use ETH in browsers. Yes, the online version of the project is also under development. It is planned to redistribute the powers of validators.
Now privileges are distributed for only 27 hours. And the delegates are chosen at random. Thus, the same position and the chance to become a validator are guaranteed for all users. The probability of monopolization is excluded. The order of the hard fork has also been changed. The developers realized that using this opportunity, unscrupulous users can harm the system. This vulnerability will now be fixed. But there are no technical details yet. As well as the timing of the first hard fork. Obviously, you won’t be able to postpone the update for a long time. But specific dates are unknown.
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