The proof of stake blockchain is set to be finalized in the next month. The conversion into a Proof of Stake Blockchain is the first step in creating a proof of stake network. The new proof of stake code will serve as a blueprint for the adoption of a new Proof of Stake network for Ethereum.
Moving Towards Ethereum 2.0
Ethereum Founder Vitalik Buterin has been hinting at the major upgrade of the Ethereum, otherwise known as Ethereum 2.0, in many of his interviews. The new form of Ethereum will look different than the current way we see Ethereum. It could drastically changed the way Ethereum creates blocks and verifies transactions. When it comes to how Ethereum 2.0 will be established Buterin explains it will made through “two major components”
The Proof Of Stake Code
According to Justin Drake, Ethereum’s Foundation Researcher, the Proof of stake code is on track for its launch by the 30th of June. The proof of stake code is part of the two major flagship components of the Ethereum 2.0 enhancement and it is also known as Casper.
Justin Drake reassures the public that they are on track and everything is going as scheduled. However, there is still a lot of work ahead. There is still a lot of code to simplify and bugs to find fix. They are currently fine combing script to find these bugs and codes to simplify.
What Comes After Proof Of Stake
After the Proof of Stake Code, the next thing they will be working on is the scalability. Casper will look to replace mining technology with sharding. With sharding, you will no longer need all the computers in the network doing computations and validating transactions.
They will be looking to Beacon chain as their go to validation system. Beacon chain will work as validator, organizer and committee for the network.