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The deposit target has been exceeded, and the route has been adjusted significantly.What is the focus of the recent ETH2.0?



We were still worried that the ETH2.0 deposit target could not be reached before December 1. Unexpectedly, on November 23, the pledge amount in the deposit contract increased by 90%. As of November 26, Beijing time, the number of ETH pledged in the deposit contract address has reached 740,000 ETH, far exceeding the minimum threshold of 524,288 ETH.

Since then, the official has made a major update to the ETH2.0 roadmap. In the latest AMM event, the ETH2.0 research team of the Ethereum Foundation gave a clearer change plan. There are three main changes:

1. Take Rollup as the center. Simplified "Phase1" to just something to shard the data (in order to use rolllups), making it easier to implement.

2. Simplify mergers. Transactions of eth1 may be executed directly on the beacon chain instead of in shards; this means that the merger scheme will be greatly simplified, and the merger of ETH1.0 and ETH2.0 may be earlier than the deployment of shards.

Upbit Suspends Serum (SRM) Deposit Service: On November 14th, the South Korean cryptocurrency exchange Upbit announced that due to the increased price volatility of Serum (SRM) and the difference between the market price and other exchanges, it will temporarily stop supporting SRM. deposit service.

It is reported that on November 10, Upbit issued a notice on restricting the withdrawal of encrypted assets to the FTX exchange. Upbit said that due to the internal situation of the FTX exchange, it has suspended the transaction of users withdrawing funds to FTX. [2022/11/14 13:00:46]

3. Parallel stage. That is to say, the light client support, data sharding (aka "phase 1") and merging mentioned earlier will all be implemented in parallel, no matter what stage the other parts are in, each part can be implemented when it is "ready" .

During these changes, we noticed that Phase 2, which is more important in ETH2.0, was temporarily frozen. Why?

Originally, the goal of Phase 2 was high TPS, but now we can directly use the Phase 1+Rollup solution to achieve higher TPS performance, and achieve 100,000 TPS faster. The general principle of all these changes is to promote the arrival of ETH2.0 faster.

The total deposit size of JustLend exceeded 30 million US dollars within 45 minutes of its launch: According to the latest official news, JustLend, the first official lending project on the TRON network, was officially launched at 8:30 tonight, and the total deposit size of JustLend exceeded 30 million US dollars within 45 minutes of its launch , as of now, the top three currencies with the largest deposit size are TRX, USDT, and BTC.

It is reported that JustLend is committed to creating a perfect decentralized lending agreement and will become the first official "decentralized algorithm bank" on TRON. JustLend is the first official lending platform of the TRON network, which is used to establish a fund pool based on changes in the supply and demand of TRON assets, and the interest rate is calculated by an algorithm. There are two roles in the agreement, including depositors and borrowers of assets, and depositors and borrowers of assets can directly interact with the agreement to earn or pay floating interest rates. The first batch of JustLend will support mortgage lending in 8 major currencies including TRX, USDT, USDJ, SUN, WIN, BTC, JST, and WBTT. [2020/12/7 14:30:30]

Here we can understand that Rollup is a computational sharding scheme. The reason for this change can be attributed to the initial results of the Lay2 expansion plan. The official was able to solve the Ethereum expansion problem and simplify the mileage steps to bring users a better operating experience and realize ETH2.0 as soon as possible. .

News | Bitfinex cancels deposit fees due to resolved deposit-related spam attacks: Bitfinex has announced the removal of deposit fees for cryptocurrencies or stable currencies below $1,000. However, there is still a 0.1% handling fee for depositing fiat currency, and there is a minimum deposit limit of $60. Paolo Ardoino, Bitfinex’s chief technology officer, said that small deposit fees are no longer required as deposit-related spam attacks have been resolved. It is reported that Bitfinex first introduced the deposit fee system in December 2017 to prevent a large number of small deposits designed to spam its system and slow down its service speed. (Decrypt)[2019/12/19]

Looking back at the original vision, phases 0, 1, and 2 are all using different solutions to improve the functions and performance of Ethereum. In general, first establish a validator team that supports Pos consensus through pledge, then deploy shards to perform calculations on shards, and finally merge ETH1.0 and ETH2.0, and then perform some The components of the operating environment are perfect.

It is not difficult to understand that the degree of completion of the previous step has a great impact on continuing to the next step. Perhaps a small mistake in the process or an unsolved problem will make it difficult to start the next step. Therefore, according to this rhythm, it is easy to procrastinate and lag. The most serious thing is that for the constant problem of expansion, Ethereum has repeatedly bounced tickets for a long time and has not started. If things go on like this, the patience and confidence of staunch supporters will be exhausted, which is very detrimental to the ecological construction of Ethereum.

News | Report: Kraken takes a more conservative approach to accepting crypto deposits when it comes to settlement guarantees: Cryptocurrency exchanges have become prime targets for hackers, according to a report from The Block. One way exchanges ensure their security is by setting a minimum number of block confirmations for cryptocurrency deposits. After comparing the confirmation times of 8 cryptocurrencies and ERC-20 tokens in 18 exchanges, it was found that Kraken took a more conservative approach to accepting cryptocurrency deposits according to the confirmation times required by the exchanges. (The Block)[2019/10/22]

So, what is the role of the Rollup plan that V God has always placed high hopes on? We can start with Rollup itself. The meaning of the word Rollup itself is to curl and roll up. According to the definition when the concept was proposed, Rollup is to aggregate transactions, and only need to conduct one transaction on the chain to verify multiple other transactions. This transaction can ensure The stability of the Ethereum blockchain can also greatly increase the transaction throughput of the network.

In fact, Rollup, like other Layer 2 technologies, was born to make the weak performance of Ethereum reach the point where it can be used or even reused. As the mainstream of the current track, Rollup is not a new technology. It existed two years ago, and technologies like older Plasma and state channels have faded out of the mainstream. Why does Rollup capture the attention of cutting-edge research fields?

Announcement | CEX.IO resumes BTC deposit service: CEX.IO announced that the BTC deposit service has resumed and the problem has been resolved. [2018/7/20]

A more comprehensive opinion is that the Rollup scheme provides the same level of data availability and security as Ethereum Lay1. It packs a large amount of transaction data originally scattered in the block into an "aggregate" transaction and publishes it on the chain. This operation ensures that a large number of transactions are processed in a very short period of time, and the most important thing is to solve the problem of data availability. Problem, all transaction data is on the Ethereum chain.

Compared with the original route Phase1 sharding scheme, this integration can be directly understood as an internal integration of sharding technology, that is, transactions need to be processed synchronously on different shard chains, but now they can be aggregated and processed directly by Rollup , the former can be regarded as state sharding, and the latter is a kind of embedded sharding. More vividly, we can compare Rollup to a magician, who assigns a large number of data and transactions to the synchronous processing through superb magic techniques. The "magic" speed shows the same expansion speedup as sharding computing.

Secondly, to ensure the security of the entire transaction process is the same as Lay1, various Rollup schemes have designed different mechanisms. ZK-Rollup zero-knowledge proof zk-SNARKs cryptographic technology ensures security, while Optimistic Rollup inherits Plasma’s penalty mechanism , to ensure that nodes will pay a high price if they do evil. Regarding this understanding of security, V God once explained, "We can further increase the scale of asset transfer transactions on Ethereum without using the "liveness assumption" introduced in Lay2 technology, only need to use ZK- SNARKs verify a large number of transactions." This shows that the Roll system is not only a Lay2 expansion solution, but also can take security into consideration to a great extent.

Integrating scalability and security, Rollup basically takes into account the two corners of the impossible iron triangle of the blockchain, and V God also gave a very positive answer to the question of whether Rollup can be used to achieve sharding transparency. One of the benefits of the Rollup-centric roadmap is that it opens up experimentation space for Rollups that support synchronous communication across shards (even without shards, just a single-threaded hypersequencer that handles everything). You can have data in a rollup A synchronization domain of hundreds or even thousands of TPS (matching ethereum's killer performance) will not make the entire base layer chain so risky of centralization."

In other respects, the overall development of Rollup also shows the powerful development force of multiple players. In addition to the Rollup R&D team mentioned above, many second-layer expansion solutions for Ethereum are also powerful solutions for Ethereum expansion, such as Arbitrum Rollup launched by Offchain Labs, and Volition, a comprehensive solution launched by the zero-knowledge proof scientist team StarkWare. Up to now, there are more than ten teams for Rollup expansion solutions, and they are still developing.

Does this show that Plasma is really yesterday? According to the analysis, Plasma exists as a side chain outside the Ethereum network. From the early attention to the later indifference, the most important problems have two aspects. One is that data availability cannot be guaranteed, because only the overall hash value of batch transactions Publish to Layer 1, instead of publishing every transaction to the underlying public chain. Second, the user experience is poor. In order to avoid malicious attacks, when Plasma designs the mechanism of the challenge period, users need to go online regularly, otherwise they may miss it. Suffering unnecessary losses, exposed real problems greatly restrict the development of Plasma. Rollup just makes up for the two shortcomings of the former, and solves a package of problems relatively completely, so as to support the early arrival of the expansion goal of Ethereum 2.0.

Comparison of Mainstream Expansion Solutions of Ethereum

Seeing the advantages of Rollup, related fields began to line up on the Rollup track. According to external sources, top investment institutions are spending a lot of money to negotiate with the most core Ethereum Lay2 expansion solution development team. A new wave of resource competition is unfolding, and the Ethereum Lay2 expansion solution team is also looking for like-minded developers to enter the game , and look for rich partners in user and application protocols.

From the data point of view, we can get a glimpse of the magical changes brought about by the roadmap change from the pledge growth. On November 20, only 20% of the pledge progress was completed. On November 23, the pledge increased sharply, breaking through 300,000 in the evening pieces. On the morning of the 24th, the total amount of pledges reached 100%. This change in action from cautious slowness to radical surge had to be related to the accelerated arrival of ETH2.0 due to route changes.

At present, we see that the research on ETH 2.0 is often scattered and changing at any time. In many cases, if it is not followed up and updated in time, it will be out of touch with the research progress of Ethereum, and it is necessary to rationally view every technological progress amidst changes. As Ethereum 2.0 turns to a Rollup-centric solution, it means that Rollup has performed well in the Lay2 solution camp. At least from now on, it has become the core role of the ETH2.0 process, which can be regarded as the Rollup system. After more than two years of hard work, the expansion solution has produced a high-quality answer sheet, and we can only look at the future risks and opportunities as we go.


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