Presentation at the conference Ethereum in the Enterprise – Asia Pacific 2020 on December 3rd, eConsenSys founder and Ethereum contributor Joseph Lubin predicted that Eth2 would devour Ethereum in the “not too distant future”.
“”People who know the ecosystem are very optimistic about how quickly things could developThe really complicated work was done at the start of Phase 0, “he said.
While the use of Eth2 was believed to be in tightly regulated “phases”, Lubin emphasized that the other aspects of Eth2 use are “parallel”. This means that log updates can arrive much earlier than many viewers expect:
“It is very likely that you will provide a large amount of data in the form of chunks and move much of the vital functionality from Ethereum 1 to Ethereum 2.0 and essentially see Ethereum 2.0 absorbing Ethereum 1 in the not too distant future. . “
Lubin predicted that The next phase of Eth2 will be online in nine to twelve months. I confirm that The next increase in the amount of data available will enable Layer 2 networks to “massively increase the number of transactions per second they can deliver”.
“Essentially, Ethereum 2.0 represents a massive increase in scalability. That is why we are already achieving enormous scalability with Layer 2 networks.”
Lubin noticed that too ConsenSys recently worked on “cutting-edge” CDBC and payments projects in collaboration with various central banks.including the Hong Kong Monetary Authority, the Bank of Thailand and the Reserve Bank of Australia.
“One of the most important use cases is cross-border payments, as the banking networks and infrastructure involved are very squeakyexpensive and slow, “he said.
“Retail payments are incredibly exciting. ConsenSys has developed architectures that can process almost 20,000 transactions per second in an Ethereum-based network. “
“We’re in talks to bring this to some of the major payment providers and some of our technologies [están] be used in a hybrid commercial central bank application “he added.
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