What Can You Expect From Ethereum 2.0? - Down The Rabbit Hole

What is Ethereum 2.0? When is it happening? Is it real? And what should you expect? In this edition of Down the Rabbit Hole Andreas asks himself to explain what will happen as Ethereum switches to it's 2.0 version. From Proof-of-Stake, to sharding, the beacon chain, epocs and phases, here is what to expect!

0:44 What is Ethereum 2.0?
1:21 The beacon chain
1:32 Proof-of-stake validators
2:00 Validator Penalties
2:45 How do validators get chosen? RANDAO & VDF
3:46 The beacon chain testing
4:03 The beacon chain phase 0
4:10 The beacon chain phase 1
4:25 The beacon chain phase 1.5
5:15 Ethereum is moving to proof-of-stake and sharded scalable architecture
5:57 Ethereum 2.0 is running right now

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[felixmcquillan]

That was a good question Andreas asked.

[tjpld]

Couple of points.
Phase 0 is actually the parallel introduction of the Proof of Stake Beacon Chain probably launching in November 2020 already.
Phase 1 introduces shard data chains. Probably shortly after Phase 0 (most likely 2021) as it's fully researched and implemented in some clients to the latest spec already.
Phase 1.5 merges ETH1 into ETH2 Shard 0 replacing the PoW consensus that has been running in the parallel ETH1 main chain.
Phase 2 Execution Environments, EWASM etc. Transfer/Exection on all shards.

For randomness ETH2 uses RANDAO which is a reveal game to introduce randomness. VDFs might get introduced later to provide an even better source of randomness. It will provide secure randomness to the network if there is at least one honest person in the network running a VDF randomness beacon. They will most likely be something like a small ASIC miner that people can run and Ethereum Foundation funds the development of these chips with other Blockchain organizations that will make use of VDFs for blockchains. Ethereum Foundation plans to give out a number of them for free to the community.

[burtonrider]

Can you talk about Cardano proof of stake consensus algorithm Ouroboros and how this compares to ETH 2.0 consensus algorithm being developed.

[Kryptonite]

There is no one better to ask these questions than the Great Andreas.

[bobzoul]

Nice content, and love the new studio, thank you Andreas!

[tonyedwards]

Here's is a question for you that no one seems able to answer. I would LOVE to hear your opinion on this issue.

What do you think will happen to the crypto world when the Three Gorges Dam in China completely collapses?

[luct]

Does this new work leave the ethereum team legally exposed?
if the ethereum team is able to coordinate such a huge overhaul of the existing ethereum, how does it not it demonstrate that ethereum isnt 'sufficiently decentralised' and thus a security?
If eth 2.0 is a new chain/token how are they not issuing a new security?

[faresar]

Finally i have a better overview of ETH 2.0

Thank you! What do you think about Cardano vs Ether 2.0?

[flyinkiwi]

How do the selected validators, validate the block? It's not a programmable thing? Do they look at the code and each transaction is basically validated by hand?

[philiphaslam]

Ok, so I'm still not sure of the answer to the REAL question about Eth 2.0 - will it be centralised and how easy is it to 51% attack?

[shaharabrams]

Andreas, what do you think about Cardano's implementation in similar terms of consusensus algos and POS?

[CryptoPendu]

Great Video. Very informative and I think even less experienced users will find the very useful. Very well explained. Thanks for all the great work you do for the space.

[cryptodutch]

Great question Andreas! Also very clear and detailed explanation. Thanks a lot, staking will be a huge and much needed progression. I can remember that back in 2016 Casper with POS was already discussed and apparently on the near term road map. Well it turned out to be a hard nut to crack so far, so I’m actually quite surprised and pleased to see a new plan to implement POS with a supposedly realistic timeline on the ETH development roadmap at the moment. I guess I’ll put 32 ETH on my next birthday wish list!

[harikrishnanchandramohan]

Is it just me or does he give some Christoph Waltz vibes.

[HTXGlobal]

Great content - keep up the great work!

[DoItForTheGraham]

LIKED solely based on that intro. Now I am going to watch the rest of the video

[AliceCrypto]

Thanks Andrew, love the way you pose the question by yourself😂

[fabianwe]

Aantonop, can Ethereum be upgraded/changed forkless (like Polkadot) once Eth 2.0 is fully implemented?

[Alex-qwiz]

I really like the style and format of your channel. keep on the good work!