The collaboration includes the integration of FTX Pay as a white-label payment and exchange solution to help users onboard Community Points in the EU, Australia, and other global markets. FTX Pay's payment and exchange infrastructure integrates with Reddit Community Points, making the customer experience a more seamless process.
The crypto can be used to pay blockchain gas fees or network fees for their on-chain Community Points transactions. This process may be confusing to the average Reddit user, but thanks to the FTX partnership, non-crypto-savvy customers can buy the crypto they need directly through the Reddit app with fiat currency.
Niraj Sheth, a software engineer at Reddit, said, "We're always working to empower communities and introduce new ways to use Reddit, and decentralised, self-sustaining blockchain technology allows us to do that. By working with FTX, we're able to do this at scale. It was created to allow users in two subreddits to earn blockchain rewards for submitting 'quality posts and comments. It is one of the most commonly used Ethereum scaling solutions. During the launch, Reddit said, "As a unit of ownership, points capture some of the value of their community.
A: Rough ballpark figures. Since Vitalik already said 'research is done', what are developers' incentives to push things forward? Are there any specific measures taken to ensure a smooth transition? A: I expect the beacon chain the core PoS chain to launch late Ideally the spec should be close to final in Q1, cross-client testnets in Q2, security audits in Q3, mainnet launch in Q4.
As a rule of thumb, launching in December is hard because of the holiday season. So November and January would be my two best guesses. Having the Ethereum 2. For example: private eth network run in a shard connected to main eth network from which it takes just security from validators. Private transaction with ZKsnarks shard s. Encrypted data shards. Erc20 like coin launched on ETH 2. A: Every shard has the same data availability layer, and the option to use EVM2.
That's common base-layer infrastructure. At the application layer contracts can be powered by non-EVM2. There's also a huge L2 design around state channels, plasma, cross-shard communication, etc. So at the application layer I expect lots of non-homogeneity across shards, as well as a lots of homogeneity thanks to standardisation. How much thinking is being devoted to the greater infrastructure requirements of Eth 2. A: Ethereum 2. Note that storing shard blocks since genesis is not required.
A: PoS enables goodies such as economic finality and sharding. It is also much cheaper in terms of inflation cost for hodlers, as well as ecologically than PoW. A: I really honestly think that there are no unsolved research challenges at this point. It's mostly "how do we make this thing more elegant and take up fewer lines of code and have fewer edge cases" on the research side.
There is really great work being led by both the EF eWASM team and the Consensys Quilt team to better understand the design space and active build prototypes to vet ideas. Do you feel this date is realistic and achievable? A: Thanks for noting its informality. We need: long-running test nets however that is defined , formal verification of the deposit contract, and clients to be ready for prime time, but right now it looks like everything will come together in time.
We also don't want to rush clients into developing buggy software just to be ready by an arbitrary date. If anything, I think BLS standardisation efforts are the most likely to slow us down. We as a greater blockchain community are trying very hard to have a standardised signature scheme for better interoperability between all the chains. There is a high degree of consensus on this already, but establishing a new standard is always a slow process. I expect exciting progress to be made in the coming months, but I also expect that the last mile might be long.
Early is realistic and still the target. A: I don't think it's productive for us to worry about the absolute numbers at this point; the network will launch, and either the rewards will prove sufficient or they won't. The other thing worth worrying about is centralization incentives, but that's difficult to work out "in theory land"; much of the result in practice has to do with how lazy people are. A: Composability between shards is definitely unchartered territory but there are reasons to be optimistic: The shards are designed for homogeneity unlike, say, Polkadot or Cosmos to facilitate cross-shard communication.
There are design patterns which abstract away the boundaries between shards. For example, one could consider shards 0 and 1 as a combined data availability substrate for an execution engine which requires more bandwidth. These design patterns will be more easily exploitable in the context of programmable execution engines. The shards are designed to be friendly to "fast optimistic finality" thanks to shard attestations which are somewhat analogous to block confirmations in the context of Eth1.
What this means that is, in practice, the shards may act as one logical blockchain thanks to quick probabilistic finality of individual shards. The UI layer is also an opportunity to abstract away the boundary between shards.
A: My best guess is early See here. A: In order for Eth2 to finalise Eth1, 2 things are needed, Eth2 must vote on Eth1 as is implemented as you point out and Eth1 must change its fork rule to follow the finalised blocks on Eth1. The latter requirement requires an Eth1 hardfork. It is therefore easier to just have validator finalise the things you mention for now and later on add in Eth1 finalisation.
Additionally, it is safer to launch without Eth1 finalisation in case of a Eth2 black-swan event in the early days. A: It got considerably simpler over the last year. If you do a word count on the spec, it seems to be considerably smaller than the yellow paper at this point. There's a lot of things in eth2 that are much simpler than eth1. But there's definitely lingering complexity and I deeply care about minimizing it. Expect more educational material highlighting the simplicity of the current design.
I expect phases 1 and 2 to be lines of code combined assuming WASM as primitive. That's just the phase 0 consensus deposit contract, beacon chain state transition function, and beacon chain fork choice rule. I understand the point of client diversity but don't you think 6 clients seem to be pushing it?
Supporting so many clients would also divide the resources in terms of funding. Which clients do you see as the geth and parity of eth2. A: A few notes on client diversity: There's more than 6 clients being developed—it's closer to 8. I expect consolidation—a bunch of clients may not survive I expect specialisation—one can focus on the browser e. Lodestar , resource-constrained devices e. Nimbus , the enterprise e. Artemis , prototyping e. Trinity , etc.
A minimum of two production-ready clients are necessary for launch. I expect the first-mover advantage to be strong. All the above have, to an extent, historically happened on Eth1. I expect a power law distribution, and it's definitely likely that some of the clients will not survive to see significant usage on mainnet. I'm pleased that there are so many great teams doing the hard work, but recently, I've been more focused on finding contributors to do value-add work outside of the core client implementation.
Formal verification, academic analysis of protocols, testing, light clients, web3 interfaces and developer tooling, validator clients with great UX that plug into any underlying node, etc, etc. For example, will Prism ever get merged to Geth? Other than the language Go , Prysm and Geth have very little in common. A: Validators get kicked out when they get slashed.
There is another ejection mechanism if your balance goes below 16 ETH from accumulating non-slashing penalties. The minimum being set to 1 ETH currently. There is an additional penalty related to the number of other slashable offenses that have occurred in the recent time period. If more validators have been slashed recently, you lose more ETH.
This highlights the importance of having a discorrelated validator setup from other nodes and potentially having some fault tolerance setup with yourself before you sign things. A: There are micro-penalties for not voting to finalise the same blocks as other validators and the inactivity penalty for offline validators for when the chain is not finalising for an extended period of time. A: I think you are conflating two thigs here, slashing and the inactivity leak.
Inactivity leak If your validator node goes offline for 18 days, and the beacon chain is not finalizing, then your balance will be reduced by "up to Slashing If a validator behaves provably maliciously, then they are slashed by having their balance reduced. Assuming client software is written well, this should be basically impossible to happen to you.
Minimum penalty is 1 ETH, but it goes up linearly in the number of people slashed at the same time as you. See here for more [Carl] Important to note that if you are offline, but the chain is still finalizing you only stand to lose approximately the same as you would have gained. Another reason to have a discorrelated setup from the rest of the network! A: The execution engine abstraction in phase 2 is quite exciting, taking account abstraction to the next level. It allows for the consensus part of execution to be an ultra thin layer of abstraction on top of data availability.
Assuming WASM as a black box, it may be on the order of lines of code to specify. There's an initial proposal from Vitalik here. The idea is that even the notion of a "transaction" is an application-layer detail which can be specified as WASM code. I understand theres an effort to spread the cost out among various communities, but I think many people feel this might just end up being an expensive science project where the rewards dont justify the costs and if you itemised Eth 2.
I appreciate that the researchers are a tackling a difficult problem with randomness for a blockchain. I actually think the main value of the VDF is that it provides global trustable secure randomness to applications that need it.
The other "promise" of VDFs is that they are a new cryptographic building block with the rather unique notion of time. They can used for proofs of space, proofs of replication, proofs of history, anti-frontrunning, expiring zk-proofs, and hopefully further applications which are hard to predict today.
Part of my political platform includes integrating blockchain technology with government operations. For example, I'd like to see all of America's public records stored on a public, open source, sufficiently decentralized blockchain.
Would it make sense to build something like this on top of Ethereum 2. Why or why not? A: Realistically you would want an incentivized data storage platform like Swarm, with hashes of the documents stored on the ethereum blockchain. But I'd recommend thinking harder and trying to figure out how to answer the deeper question "how could we use blockchains as a tool to minimize opportunities for misbehavior in government?
Are there any other researchers on the research team that are as convinced of Ethereum's future, besides Vitalik and Justin of course? No need to call someone out. Just percentages, ie. A: Somewhat ingrained in our culture, the research team doesn't talk much about net worths.
Having said that, the research team has a lot of fresh blood e. A: I asked the same question a few days ago. At this moment, it is still an open question and will likely be until much loser to the time. Obviously having more clients is better, but that should be played off against the launch date. I am currently torn between 2 and 3. At the end of the day, it will come down to who is ready and when. As i understand, the side with less total eth staked will be slashed, so won't this malicious actor be able to effectively kill the network?
One of the beautiful things about PoS is that these attacks can be handled with grace. We, as a community, can go in and hard-fork out the malicious actors so they have no more voting power. The malicious actors just burnt a lot of money to temporally halt a network.
My biggest concern is losing ETH while being a well intentioned actor. A: I hope so! One key component in the incentive design is that penalties for going offline and for being slashed are only high if many other validators go offline at the same time. So any bug that doesn't hit every node at the same time should only cost you a minimal amount. This is not necessarily state size. The current approach to state and state execution is to take a "state-less" approach in which blocks must contain the merkle witnesses of the relevant state to perform the tx executions.
This is reduces the amount of state any consensus node must store, but does bring up other issues about state size, who stores it, how users get it, etc. Much of the state rent research that ledgerwatch has driven in the past year or so will likely come into play. Question 1: Would staking be made easy-to-do, so "ordinary" people can earn interest on their holdings? Question 2: Does staking pose any risks of losing ETH by accident? Trying to understand if you can stake without any risks unless you "intentionally" try to harm the network eg.
I expect a cottage industry will be setup around accessibility. Infrastructure to be built includes staking pools centralised—think Coinbase—as well as decentralised one as well as plug-and-play "validator in a box" solutions.
Trying to understand if you can stake without any risks unless you "intentionally" try to harm the network That's definitely the goal. A: The current approach is to fold eth1 into eth2 as an execution environment. In practice, this will mean that we would need to have a hard fork on the eth1 side to rebalance some gas costs opcodes that read storage or read accounts would see their gas costs increased to , and after that at some point there will be a "flag block height" from which the eth1 state root will be moved into the eth2 system or possibly some one-time processing will be run on the eth1 state to make some optimizations, eg.
It's a question from inequality perspective not security; if ETH were to take a significant role in the global economy, wouldn't this widen the gap between rich and poor by orders of magnitude MUCH worse than the current economic system? Basically, economic inequality on steroids. A: I definitely think income inequality issues from crypto are an issue! It's a big part of why I am not a single-cryptocurrency maximalist.
But I still think that PoW is not better than PoS from an inequality point of view, because although PoW does distribute coins into "fresh hands", you need so much capital to become a PoW miner that PoW itself is a big rich-get-richer mechanic in practice. A: Building Eth2 on Eth1 would be a bad design decision for a few reasons: We would be constrained by the Eth1 gas limit, which would severely affect performance e. We would be mixing the consensus and application layers.
This means the consensus layer is subject to the application-layer DoS vectors e. It would also mean "enshrining" application-layer contracts, which is far from ideal from a governance standpoint which should be as neutral as possible with regards to deployed contracts i. The DAO interventions should be the exception, not the norm. We would be constrained by the EVM, which is notoriously hard to safely program complex contracts in. Eth1 does not have support for BLS We would be subject to the Eth1 block time Poisson distribution as opposed to the regular—and shorter—slots durations in Eth2.
The list goes on : [Justin] Q: I am considering to stake during phase 0, but i am a bit concerned about the inactivity leak. I am asking this as there may be certain situations in which I think I will be offline for a while, and I do not want my balance to slowly leak out due to that.
The incentives are deliberately designed to be forgiving to avoid discouraging amateur setups to promote decentralization. A: With shards, and validators in a committee, a minimum of , validators are needed to crosslink every shard every slot. In this case, security is obviously insanely degraded, but the protocol can technically move forward. A: Correct. By making use of BLS signature aggregation and by grouping the validators into committees, we're able to support hundreds of thousands and hopefully into the millions of validators.
What's your opinion on this? I'd say this would be the remit of the community, not the EF. Note that the Eth2 designers avoided giving early validators a special reward e. We want to learn whether or not the basic incentivises are sufficient to incentivise participation. The deposit contract is readable in such a way that proofs can be made to a separate contract to generate NFTs. Been talking to Austin Griffith about this. I don't think an NFT would hinder our ability to understand the pure incentivizes here.
It's at best a trophy and of little economic value imo. A: At this point there's reasonably high confidence that VDFs including building hardware are viable. A few updates: A team of 3 ex-Intel people Simon, Sean, Kelly from Supranational is dedicated to the hardware aspects. The Rivest timelock challenge open for 20 years, designed to last 35 years was cracked in a few months using an FPGA see here, and here.
There's also code on Github. Work by Erdinc Ozturk has improved the state-of-the-art circuit depth for the modular exponentiation in VDFs. The ePrint paper was submitted a few days ago and should be published soon. A prominent complexity theorist Ryan Williams from MIT is working on circuit depth lower bounds for modular multiplication.
Significant progress was made by Ligero on the RSA ceremony. We are planning for a ceremony with unprecedented scale participants in In addition to the Ethereum Foundation and Protocol Labs i. Filecoin , a new blockchain project to be announced with the FPGA competition is helping with funding. Force every withdrawal to go to a shielded pool - like zcash does with mining rewards.
A: I definitely support moving toward more and more privacy being a default over time! I'd say validator deposits are more important to mix than withdrawals, as that way it becomes harder to locate the nodes of specific validators which seems like it would increase security and censorship resistance.
CRYPTOCURRENCIES NOT REGULATED
The future of Ethereum is highly dependent on the overall performance of the crypto industry. When it comes to investing in ETH, you need to make sure that you are using the right strategy. This type of investment is not suited for those with an asymmetric risk profile. However, it is still an excellent investment for those who have a high tolerance for risk and a solid financial position. In addition to its speculative nature, ETH also offers exposure to a global technology and an ever-growing ecosystem.
How much will Ethereum be worth in ? In terms of price, Ethereum has an outstanding potential to reach new heights. It is forecast that ETH will increase in value. What will be the ETH highest forecast price for ? Other Coins Price Forecast. Hence, users are their own masters of authentication. Technological development has enabled Ethereum Classic forecast to be available on various devices that have only further augmented its user base.
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However, there are often reasons to prefer a private blockchain or consortium blockchain among a group of trusted participants. As a substitute for centralized or quasi-centralized trust, public blockchains are secured by crypto-economics — the combination of economic incentives and cryptographic verification using mechanisms such as proof of work or proof of stake, following a general principle that the degree to which someone can influence the consensus process is proportional to the number of economic resources that they can bring to bear.
A complete private Ethereum blockchain is actually centralized to one organization for writing permissions. Read permissions may be public or restricted to an arbitrary extent. Likely applications include database management, auditing, etc. So public readability may not be necessary in many cases at all, though in other cases, public audibility is desired. Over time, this translates into software improvements, shared knowledge, and job opportunities. The corporate has planned big for the future, embarking on various partnerships and collaborations.
Being listed on eminent cryptocurrency exchanges like Coinbase and Binance, Ethereum Classic, Huobi Global offers a safe and dependable platform to its traders. It enables lesser fees and a plethora of digital assets to pick and choose from. These upgrades and successful tie-ups have accelerated the momentum for ETC, creating the ecosphere of smart contracts far and wide. The upgrade has elevated the Ethereum Classic price rise on exchange substantially. The previous significant fork was Atlantis in September Honestly speaking, Ethereum has magnanimously reinstated itself with the introduction of ETC.
According to the technical analysis, banking on DeFi and platform being driven by Ethereum Classic blockchain has phenomenally carved a growth path for itself. ETC stays close to the head of the family, Ethereum, and hence has a bright future to grow exponentially. It is living proof of what its community is capable of.
They faced a serious crisis, stuck together, and came up with a truly elegant solution. Ethereum Classic: Sealing Nuptials ETC Labs has embarked on a voyage of sealing various partnerships that would infuse more corporate and community initiatives into the entire eco-space.
Strengthening both ETC and ETH communities and enhancing functionalities, following bonds make the mission come true: I Gitcoin: Ethereum Classic prediction has tied up with Gitcoin launching a host of bounties available to both the Ethereum and Ethereum Classic communities. This integration of ETC and Gitcoin facilitates crowdfunding with more technical partnerships joining in for technological upgradation and innovative projects.
This nuptial is aimed at providing infrastructure services with a single API and end-points for DApps and wallets. Committed to building high-quality technology and combating challenges on the way, ETC plays an aggressive role in addressing scalability issues on ETH and taking collaboration to the next level.
Ever since the currency entered the Ethereum Classic cryptocurrency market in forking out of Ethereum, it has undergone a number of dramatic price forecast changes. Unlike many other cryptos, Ethereum Classic price predictions saw extreme growth for almost the entirety of Surprisingly, in the Covid phase, when all other currencies demonstrated a dismal performance, the Ethereum Classic prediction has exhibited a drastic price change.
Hence, the currency gained investor confidence and saw a great surge in momentum. A lot of transactions transpired, and money changed hands. Since last April, the Ethereum Classic price prediction has been trading with bullish momentum. Going by the pandemic phase, this can be counted as a phenomenal victory. Ultimately, proving itself worthy of this good investment, ETC price has ever since then only grown beyond expectations with its price curve steadily rising upwards.
However, digging deeper into ETC price history of Ethereum Classic cryptocurrency prices does not reflect many promises. Except for the large war chest of funds, the partnerships seem to be quite less in number. Another major factor is the oracles of ETC price are of complex nature even though high in demand. The launch on Ethereum mainnet was a respite for investors who have been long waiting for it. It can be clearly defined that ETC, listed on various exchanges, has positioned itself among many of the top currencies but to stay at that level, it has to exploit its maximum potential.
In July , the Ethereum Classic prediction launched a hard fork known as Magneto to implement multiple features through the Berlin hard fork. The total current circulating supply is ,, Hence, price go to such a high. Ethereum Classic price today is compared with the past data as well. With ETC price showing so much promise, it has support from all the industry crypto market connoisseurs who firmly believe that backed by a fundamental robust algorithmic science and a consistent performance, Ethereum Classic, if invested at the right time, will undergo the right price gauge.
To harness the optimum potential, experts worldwide and die-hard investors of ETC have advised sticking to this currency mainly for the reasons of price escalation expectation. In fact, it has steadily gained and consistently performed as said before till the recent cryptocurrency market crash. Working hard to change the world map of technology, the entire ecosystem of Ethereum Classic price forecast ensures that participants benefit from blockchain-enabled functional advantages.
ETC facilitates not just gains but builds hope. The Crypto industry is constantly booming all over the world. Thus, to stay competitive, most crypto projects continually improve features and technologies to beat competitive edges. Many crypto projects pursue improvements to their technologies to stay competitive. Let us check the predictions by the experts. Reddit Communit Being based on a logical algorithm and price analysis, the maximum price of Ethereum Classic price prediction has both short term as well as long term potential advantages.
Trading Beasts Ethereum Classic ETC Price Prediction Though Ethereum Classic ETC price prediction had to make a tremendous effort to fork out of its origin and compete long and hard with its rival cryptocurrencies, it is not long that it would outperform during the last year.
According to the technical analysis, most of the competitors of Ethereum Classic, too, did not mesmerize the traders either. However, ETC price consistency has tried to show in itself a unique feature to debate. As per the Ethereum Classic price predictions, the currency gain more traction due to its privacy tag. A trait and respect that it attaches to all its investors. In fact, privacy is the hallmark of ETC, which has been the center stage of all currency activities gaining worldwide acceptance.
The year was a game-changer, not just for Ethereum Classic ETC price prediction but for most of the cryptocurrencies, including the fiat currencies. World economies somersaulted drastically in light of the Pandemic. The same was the case with Ethereum Classic. However, the last year brought a lot of good for Ethereum Classic. The currency kept its momentum onward and upward. It is not less than great news. Hence, it has boosted the market sentiment phenomenon drastically.
Traders and investors have started betting on long term for price of ETC movement tracking it very closely. Let us check the data for Ethereum Classic price prediction to Ethereum Classic Price Prediction According to Ethereum Classic price prediction , despite the recent downside price movement of almost all of the crypto coins, there are daily basis price predictions that ETC is poised for an upswing over the next few weeks.
Following the current price trending pattern against USD, especially the way it is trading within the specific price range, it is evident that the Ethereum Classic price might continue to trade bearishly as per the near first half term Ethereum Classic price prediction Though it is too early to predict whether ETC price movement will improve or not, what stays clear is that there is light at the end of the tunnel for sure by the end of in the short term.
Ethereum Classic Price Prediction Going by the study of shorter and longer term price bullish trend and technical analysis, as compared to Ethereum Classic price prediction has been digressing from its path normally every couple of years.
So going forward, it is highly likely that the end of in the long term may not be so great for ETC price for escalation, especially with rivals catching up with heat or markets playing hide and seek. However, this stays as a pessimistic scenario.
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