35 - Designing Ethereum | Vitalik Buterin

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Podcast Notes Key Takeaways Ethereum 2 phase 0 has already undergone testing and is close to releasePhase 0 is Proof of Stake, phase 1 is Data Sharding, and phase 2 is Execution Sharding“We believe that the base layers of the new internet should be an open thing that is expected for regular to be able to participate in” – Vitalik ButerinThus, it’s important for Ethereum to not have supernode dependenceTruly decentralized governance mechanisms always give the same output regardless of political disagreements, any centralization is an attack vectorProof-of-Work (PoW) has the advantage of a higher miner churn rate and reduces the possibility of long-term capture. By contrast, a staker today can remain a staker forever. That said,Development pace is likely to slow down as the mining industry maturesHolders with smaller amounts can form staking pools, compared to a substantial initial miner investmentPoW is more susceptible to 51% and spawn camping attacks“The biggest way that we can be sure about what our values are is just by talking about them” – Vitalik ButerinEthereum embeds its values into code, people can then freely opt-inThe applications you use express your valuesBecause of limited on-chain capacity, Bitcoin’s eco-system may become gated by Bitcoin banksLayer 2 solutions are inevitable, the question is will they be centralized or decentralized

Read the full notes @ podcastnotes.org

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35 - Designing Ethereum | Vitalik Buterin

With Ethereum 2.0 on the horizon, we bring Vitalik Buterin back onto the podcast to discuss the 'why' behind many of the design choices of Ethereum 2.0

Why Proof of Stake? Why Sharding? 

We also go over what has been discovered and added between the 2015 launch of Ethereum 1.x, and where we are now, such as
- EIP1559
- Rollups
as well as Vitaliks view of a 'rollup centric Ethereum'

We also discuss the process going getting Ethereum 1 onboarded into Ethereum 2.0, as well as a rollup-round where we ask some quick questions!

'Rollup Centric Ethereum' blog post: https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698

Get ready for Staking: https://bankless.substack.com/p/guide-becoming-a-validator-on-the History:

https://blog.ethereum.org/2014/01/15/slasher-a-punitive-proof-of-stake-algorithm/

https://vitalik.ca/general/2019/11/22/progress.html

https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/

https://vitalik.ca/general/2020/08/17/philosophy.html

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