On December 1, the beacon chain of Ethereum 2.0 Phase 0 was officially launched. This moment marked the official start of Ethereum 2.0. Most people have unlimited expectations for this behemoth. However, all this is just the beginning. Fang 2.0 still has a long way to go.
Ethereum 2.0 has attracted the attention of many people. In fact, the main reason is that the current blockchain is facing bottlenecks. Many people think it is an impossible triangle problem. Of course, we can also consider the current blockchain transaction confirmation speed to be specific. The problem is that this is also the reason why the blockchain system cannot be used for larger scale applications.
As far as the existing public chain is concerned, the faster one, such as EOS, can be regarded as a typical representative. When the EOS network is busy, according to the design, users still face the situation of insufficient resources, and often send a transaction to occupy about one. EOS resources of more than one hundred yuan, this is where the EOS system is criticized, and in many cases it may form an endless loop.
As for other public chains, many people may have experienced them and they feel pretty good. On the one hand, there is no congestion, and on the other hand, the fee is still very low. So they think this public chain is very powerful. In fact, this is just an illusion, that is, when you feel When the experience of a certain public chain is very good, it is actually because the public chain is not used by too many people, so it will naturally be very smooth. When the number of users or the number of transactions suddenly increases, in fact, many public chains are still Can’t hold on.
At this time, many factions have proposed multiple solutions, roughly divided into several categories. The first category is capacity expansion, the second category is the second layer network layer2, and the third category is a combination of technologies such as fragmentation technology that most people are now familiar with. body.
That is to say, in the past few years from 2014 to the present, in fact, at the technical level, we have basically discussed countermeasures for the transaction speed and transaction confirmation time of the blockchain. Decentralization is naturally the current blockchain project. Consensus is also a point of view that is difficult to change. Therefore, we can only increase the transaction speed of the blockchain as much as possible under the existing conditions. This is the core task of the development of the blockchain.
Of course, at present, both the expansion and the layer 2 network layer2 have their limitations, which makes people focus on the technical level of sharding. Ethereum has determined its final transfer in the roadmap long ago. POS is actually to deal with the contradiction between network transaction demand and current network load.
In other words, if Ethereum 2.0 can be fully realized, it also means that the future development of blockchain technology will be based on Ethereum, and other public chains will eventually run on the Ethereum network in some form. In this way, Ethereum may really become the “world computer” in everyone’s eyes.
Because the goal is too ambitious, the development of Ethereum 2.0 is of course also facing great challenges, but despite this, with the current overall market value of Ethereum and the strength of the Ethereum Foundation, they basically don’t worry about not having the money to do this. Therefore, generally speaking, to achieve the goal of Ethereum, a new high must be achieved in the bull market. Otherwise, the huge cost may make the Ethereum project in trouble. Therefore, from a certain perspective, everyone should not feel the price of Ethereum Worry.
It should be noted here that although there is no need to worry about the development of Ethereum 2.0, what will other public chains do in the future? This is what the public needs to pay attention to. After all, many people still have a bunch of altcoins in their hands.
As mentioned earlier, in the past few years, in fact, the blockchain technology has always focused on improving transaction speed as the main solution. Because of this, the major public chains have continued to explore with their own technology, and finally formed the current situation of a hundred flowers blooming. In other words, no one knows the future direction of technology development, so they can only explore from multiple angles.
Multi-angle exploration is the same as our usual brainstorming. Different people stand at different angles, and then propose their own solutions to the same problem, and then use actual actions to prove whether they are right or wrong. This is also At present, we have seen so many public chain projects in the currency circle and the reasons for their booming development. But once Ethereum 2.0 is up, then these projects will face a direct problem, that is, what should their public chains do?
Simply put, Ethereum 2.0 will grab the job of other public chains, making them useless. The simplest example is that most people in the community have shopping needs, so some people open a lot of small shops. Provide shopping convenience for everyone, but suddenly one day a small store has money, and then expands its territory to a large shopping mall, then this will naturally make the business of the previous small stores a lot worse.
In this way, the natural public chain needs to seek its own development, rather than just waiting to die. Although there may be fewer outlets at this time, it is not impossible. At present, there are two possible strategies.
The first is to join the Ethereum ecosystem, as a part of it, and then enable oneself to survive.
This is easy to understand. It’s like if you can’t compete with a small store that is cheap and affordable and has a dazzling array of large shopping malls, then you can contract a counter in the mall and sell the goods yourself, so that you can survive.
The addition of other public chains to the Ethereum ecosystem is actually not a fantasy, at least from a technical perspective, it is possible, because the current cross-chain technology is actually doing very well, so it is to combine your own public chain with Ethereum Do docking and then provide a cross-chain approach. In this way, your own ecology can be integrated with Ethereum. Naturally, you will not become a competitor of Ethereum. Instead, you will become a part of the development of Ethereum ecology and expand the ecology of Ethereum. If you can survive yourself, it is naturally a win-win situation.
The second is to unite with other potential public chains to jointly divide the market and form another ecology different from Ethereum
This possibility is naturally there. For example, cross-chain representatives such as Polkadot and Cosmos can actually unite different public chains. The problem of slow transaction speed we mentioned earlier can actually be used to a large extent. Chain to solve.
The core of cross-chain is actually to create a token of another public chain on a public chain, and then use smart contracts to connect it. The effect is actually equivalent to the establishment of many layer 2 on the previous public chain. If this public chain is congested, then you can use smart contracts to exchange your coins for coins on other public chains, and then complete related transactions on other public chains, and finally exchange back through cross-chain. The transaction is completed.
Although theoretically speaking, there is no upper limit on the use of this method. In fact, it is similar to Ethereum 2.0 sharding. In fact, we can regard sharding as different public chains to unite together, but here Ethereum There is a beacon chain for management, and if other public chains are united, then it is like a distributed network, without a unified management level, and there is no unified rule, cooperation between different public chains It can only be restricted by cross-chain technology and related rules, which is a way with higher degrees of freedom.
to sum up
In any case, the emergence of Ethereum 2.0 will bring major opportunities for the development of the blockchain industry. At present, Ethereum 2.0 is the best solution to the bottleneck of transaction speed, and it is also a solution with great expectations. For other public chains, once Ethereum 2.0 succeeds, they may face the risk of being abandoned by users. Therefore, for other public chains, if they see this kind of crisis earlier and deploy countermeasures earlier, they will not face the risk of elimination. This is what most public chain project parties need to think about and face.
