Blockchain
By Steven Anderson
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Ethereum Replacing the Brain of ETH
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Decentralized Finance (DeFi) is known as the best Ethereum use case to date. The DeFi markets made it possible for permissionless and automated lending, facilitating, trading and…
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DeFi apart, the Ethereum Staker community have lot of questions and are continuing to explore ‘where they are going?’ and ‘what’s next?’
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During the ETHStaker Community Call #15 with Danny Ryan, the priority shift seemed to be to focus on implementing the ETH1/ETH2 merger before shards.
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It is important to note that, “eth1” and “eth2” are misnomers. The clarification is that the designations like eth1 and eth2 imply a false sequentiality.
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Eth1 deals with the operation and upgrading of the Ethereum’s user layer in terms of state, transactions, accounts and everything like the end user will want to consider when…
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The Eth2 is about a series of upgrades which focuses on overhauling the Ethereum’s core consensus.
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With the upgraded consensus mechanism should ultimately come in consensus with the eth1 user layer.
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This just means that ETH1 has been silently doing what it takes to provide for the major overhaul of Ethereum Core Consensus (Eth2) in a comparatively less risky factor.
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In short, it has been established that eth2 = consensus; eth1= user_layer.
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The ultimate focus of everything that is happening is to ensure that uninterrupted contracts happen with application stable APIs and tools.
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Of note, the beacon chain run by the community is to provide for the best in existing applications, contracts, and tools.
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For now, the beacon chain is in consensus with itself the bulk of the work getting done is ultimately focused on making the beacon consensus mechanism which end users care about.
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