Vitalik Buterin, the Creator of Ethereum, recently spoke about the development surrounding Ethereum 2.0, the final stage of Ethereum, on a Reddit thread dedicated to him.
Yagan, a Redditor, stated that Vitalik Buterin had proved that he was “determined to move forward as a person and as a leader” irrespective of the FUD surrounding Ethereum over the past several months. The Redditor stated,
“Cheers to Vitalik and cheers to his supporters. Cheers to ethereum and cheers to the community that can see the ‘bigger picture’. Congrats on all you have accomplished Vitalik and thank you for being an inspiration to many.”
To this, another Redditor with the username Dont_hate_scienceguy, replied stating that he would sell-out his coins, the day Buterin exits the Ethereum ecosystem. He also added that he has “never had less faith in the [Ethereum] team, than I do after this dothereum nonsense”.
Dothereum is one of the new projects gaining the attention of the Ethereum community. It is a project that is similar to Ethereum, but is built on Polkadot. Some have speculated that Afri Schoedon, a former Ethereum developer, is a part of this project.
This comment caught the attention of Buterin as he replied to the Reddit user by stating that the “the team” in question was “larger and broader” than he or she thought. He further stated that the developers at Prysmatic Labs, Lighthouse, and all the other teams have not delayed the “progress of eth2” even by a single day. He said,
“While I get frustrated with the antics of the “chattering classes” myself, it’s important to keep in mind that Prysmatic, lighthouse, the eth2 research team, etc etc are all continuing work right on schedule, and the recent governance noises, while loud and annoying, did not delay the progress of eth2 by even a single day.”
Buterin further stated that even State Channel, Plasma, ZK roll-up, and 1.x rent proposals were “steadily moving forward”. He added that the current 1.0 clients were also regularly upgraded so that they could “better handle” the load of the current chain. He went on to state,
“[…] a huge victory a few months ago in dropping uncle rates as well as constant improvements in block propagation. When you’re making a bet on the ethereum ecosystem, it’s those silent armies you are betting on.”
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Ethereum [ETH]: Ernst and Young to launch zero-knowledge proof technology on ETH blockchain
The mainstream adoption of cryptocurrencies has been a topic of discussion for the longest time. This push by cryptocurrency organizations for integration seems to have paid dividends as many institutions have started adopting cryptocurrencies or at least blockchain technology.
The latest company to tap into the world of digital assets is Ernst and Young [EY], which announced that it would soon release its new zero-knowledge proof technology on the Vitalik Buterin co-founded Ethereum blockchain.
The project, titled Nightfall protocol, uses the inbuilt zero-knowledge proofs to allow organizations to transact privately on the same network without giving up the security and distributed nature of the ETH blockchain. Circle Research, in an official release, commented on the technology:
“ZKPs prevent anyone attempting to analyze their blockchains from making any sense out of what they’re looking at. ZKPs enable all of the benefits of public blockchains like Bitcoin without the downsides of leaving behind digital clues that can be analyzed by third parties. The result is the ability to transact with complete privacy, inscrutable to the outside world.”
Another feature of EY’s public blockchain approach is its integration of privacy through permissions. The feature makes sure that participants on the blockchain who are selected ahead of time would be preferred over the ones who join the blockchain later. Some users, however, have criticized the permissioned network, which was also mentioned in the Circle report. It stated:
“A key criticism against permissioned networks is that they are not censorship resistant – a single entity or group of entities has control over the network. In addition, there are multiple companies and consortiums building their own permissioned blockchains, which creates silos.”
Ernst and Young’s venture into the crypto-verse was also put on show recently when the company unveiled its new blockchain analytics tool, the EY Blockchain Analyzer. The announcement from the company said:
“The latest version of EY Blockchain Analyzer being showcased at the EY Global Blockchain Summit supports analysis of zero-knowledge proof (ZKP) private transactions on the public Ethereum blockchain, as well as the Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin public blockchains.”
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