On 1st August, Status, an open source mobile dApp browser unveiled on Twitter, their client Nimbus, a project focused on sharding and scalability of Ethereum. Status has declared that their ultimate goal, in the long run, is to “drive mass adoption of Ethereum.”
Sharding is a kind of database segregation which divides enormous databases into smaller, quicker and conveniently manageable parts known as date shards.
Status, the first mobile Ethereum operating system, is a decentralized platform based purely on a peer-to-peer framework. Users are able to buy, sell and store Ether as well as other cryptocurrency assets with the added advantage of exploring and browsing through several decentralized apps.
Status decided to take on Nimbus as a research project with an aim to advance the collective work already done in scaling Ethereum and giving it wider access. Nimbus also aims to set up client implementation for sharding, light clients, and new school Ethereum-based technologies.
The Ethereum 2.0 Sharding Client is designed to be compatible with mobile devices and is said to function smoothly on IoT devices as well.
Status on their website said:
“The Ethereum 2.0 Sharding Client is designed to work well on mobile and embedded systems, that is modular enough to allow for rapid iteration and implementation of the research being done in terms of scaling will, we feel, advance greatly the goals of Ethereum as a decentralized ecosystem.”
The Nimbus team decided to use the programming language Nim as it is light in its makeup and therefore appropriate to run on resource-restricted devices. The team claims to have a deep-seated understanding of the blockchain platform and its ever-evolving technology.
The Ethereum protocol is said to have engaged the most experienced of developers and engineers. Vitalik Buterin, the Co-Founder of Ethereum in his Tweet said:
“Looking forward to Nimbus from @ethstatus!”
Twitter user, Surfcashchain said:
“Always push the limit of blockchain ! Gold job”
GenXMiner, another Twitterati commented:
“You guys gotta learn how to put this shit in layman’s terms, we need real world applications and real world explanations. Very few people write code HELLO!”
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Facebook’s Libra ‘sounds an awful lot like Proof-of-Stake’ and will ‘run into Ethereum’s problems,’ claims Jameson Lopp
Facebook’s “The Libra Blockchain” whitepaper has created quite a frenzy, not only in the cryptocurrency ecosystem, but also with U.S. government officials. Some people claim that Libra is not a blockchain, while others claim that it is going to kill Ripple, XRP and other similar blockchains. However, Jameson Lopp had a different view, claiming that the Libra blockchain has not solved massive problems that Ethereum has.
Lopp in his Medium article dissected the whitepaper and stated that the Libra Blockchain will be controlled by a set of authorities in a top-down fashion and that it will eventually move from a permissioned to a permissionless blockchain. The blockchain will offer a global currency – Libra coin, which will be backed “with a basket of bank deposits and treasuries from high-quality central banks.”
Since the whitepaper mentions that it will eventually move towards a permissionless and an open system, Lopp speculates that it “sounds an awful lot like Proof of Stake” and like Ethereum, it will face the same problems. He said,
“Apparently the plan is to open up membership after 5 years and hopefully they’ll have figured out Proof of Stake by then… I expect they’ll run into the same problems as Ethereum!”
Lopp added that “Calibra Wallet,” which is used to store the Libra coins, is the only wallet that can hold the coins for now and that it will require strict KYC/AML compliance. Since the blockchain conveniently replaces “stablecoin” for “resources,” Lopp speculates that it will concentrate more on smart contracts since it is built on a custom smart contract programming language called “Move”.
In addition to facing similar problems as those faced by Ethereum, the Libra Blockchain is facing more issues from a political and a regulatory standpoint. There was a lot of speculation even before Facebook dropped the whitepaper.
According to Reuters, United States House Financial Services Committee Chairwoman Maxine Waters issued a statement to halt/pause any and all developments on the project, until and after the Congress and other regulatory bodies have finished reviewing it. A senior Republican, Patrick McHenry, is also calling for a hearing on Facebook’s new cryptocurrency.
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