How ETH 2.0 solves the impossible triangle problem of blockchain

The biggest challenge ETH 2.0 faces is to overcome the impossible triangle problem of the blockchain, that is, any single project is difficult to achieve, decentralization, scalability and security at the same time.

The biggest challenge ETH 2.0 faces is to overcome the impossible triangle problem of the blockchain, that is, any single project is difficult to achieve, decentralization, scalability and security at the same time. This issue is at the core of ETH 2.0’s vision. They are working hard to achieve scalability and security without sacrificing the decentralized structure of the blockchain.

Centralization is not a way out, nor is it a choice:

Ethereum, in its grand vision of solving scalability, high gas costs, and security issues, does not want to compromise with its core decentralized structure, which is why they upgrade themselves with a sense of responsibility and maturity.

They want to solve the impossible triangle problem of the blockchain head-on and maintain decentralization, which makes the Ethereum blockchain:

  • Anti-trial
  • Keep it open source
  • Respect user data privacy
  • Become safer

Therefore, for ETH 2.0, decentralization is not an option just to obtain the highest level of speed and scalability.
Now is the time to discuss the challenges of the impossible triangle of blockchain and how ETH 2.0 is prepared to solve it.

ETH 1.0 expansion challenge: (Blockchain Impossible Triangle) How does Eth 2.0 plan to deal with this challenge?

Let us delve into this blockchain impossible triangle and decode how Ethereum 1.0 has bugs on the blockchain and what measures it is taking to solve the same problems as the proposed Eth 2.0 version.

1. Security and decentralization: but slow transaction speed:

How ETH 2.0 solves the impossible triangle problem of blockchain


In order to make the blockchain network secure and decentralized, the current Eth 1.0 network node verifies every transaction being processed by its main chain. The requirement to verify each transaction before completing the block is what makes ETH 1.0 slow, because it limits the number of transactions that can occur at any given time.

So how does ETH 2.0 solve this transaction processing restriction?

In order to process a higher number of transactions per second, the current ETH 1.0 network will need more nodes to process more transactions. This is being resolved by the proposed Eth 2.0, which plans to deploy a shard chain to spread the network load to 64 In a new chain.

This can enhance the capacity of the Ethereum network and reduce the prominent network congestion problems in the current Ethereum network. This proposed shared chain will help the Ethereum network expand beyond its current TPS of 10-15.

2. Scalable and secure: but at the cost of decentralization:

How ETH 2.0 solves the impossible triangle problem of blockchain

The second blockchain dilemma of the current ETH 1.0 is that if it chooses to expand the network scale by adding more network nodes and tries to gain scalability and security, it needs more active participants to act as validators. This in turn requires more people to buy expensive mining equipment and plug it into the blockchain network to help it expand.

This may be contrary to the concept of decentralization. Not everyone can afford such hardware. On the contrary, some powerful and privileged people will start to have a greater say as network verifiers.

There is an answer to the proposed Eth 2.0 beacon chain and shard chain upgrade:

The upgrade of the beacon chain and the completion of the Merge phase will solve this problem to a large extent. This upgrade using sharding chains will migrate ETH 1.0 from proof of work to a consensus mechanism for proof of stake. It will help the Ethereum network expand horizontally, allowing more nodes to be created in the network.

These nodes will no longer require expensive hardware. On the contrary, anyone with a laptop, smart phone and good Internet can easily act as a validator node and easily run consensus proof smart contracts. Ultimately, in addition to making the network more secure, it will encourage greater community participation and promote decentralization.

3. Decentralization and scalability: but at the cost of security

How ETH 2.0 solves the impossible triangle problem of blockchain


The third challenge that the Blockchain Impossible Triangle brings to Eth 1.0 is to sacrifice security at the expense of decentralization and scalability. At present, the relevant information of each transaction successfully mined by the miners in the network will be broadcast to each network node so that everyone knows the changes in the network status due to the newly created blocks.

Therefore, if the current Ethereum network tries to achieve scalability and decentralization by increasing the size of network nodes (vertical) to accommodate more transactions, and needs to broadcast it to achieve decentralization, then the whole process will become Too slow to be efficient. There may be delays in processing transactions, which may result in a higher risk of attacks during the transmission of information. This makes the network more vulnerable to security threats.

“Decentralization and scalability may cause security risks.”

The upgrade proposed by Eth 2.0 solves this blockchain problem.

How ETH 2.0 solves the impossible triangle problem of blockchain

The proposed beacon chain is merged into the current main chain of Ethereum, which will enable the Eth 2.0 network to operate on the proof-of-stake consensus, and the deployment of the sharding chain to expand it will help the Ethereum network achieve:

  • Scalability
  • Safety
  • Decentralization

Everything is together, without sacrificing anyone, nor sacrificing others.

in short:

The upgraded version of Ethereum 2.0 provides all the answers to the impossible triangle of Ethereum’s blockchain.

Fragmentation:

By increasing the volume of transactions per second, while reducing the power required to run nodes and verify the chain, Ethereum will be more scalable.

Beacon chain:

The security of Ethereum will be promoted by coordinating validators across shards. Staking will lower the barriers to participation and create a larger and more decentralized network.

Staking: Proof of Stake

Due to low-cost hardware requirements, the network will be more decentralized and secure by lowering the barriers to entry for ordinary people.

“The reason why blockchain projects like Bitcoin and Ethereum are widely accepted by the developer community and the general public is their true decentralized nature. The decentralization of power and transactions without the intervention of any third-party intermediary Convenience has completely changed the world of cryptocurrency.

Therefore, if the phenomenon of this century must succeed and develop further, it must be ensured that it expands in scale, becomes more reliable, and maintains its decentralized spirit without failure. “

Will Eth 2.0 succeed or fail? Well, stay optimistic and let time give the answer!

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-eth-2-0-solves-the-impossible-triangle-problem-of-blockchain/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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