Scalability Trilemma
It’s important to emphasize right from the beginning, that Prysmatic Labs aims to resolve the scalability problem altogether, allowing millions of users to interact with the blockchain at the same time. Scalability trilemma implies the possibility of planetary scalability, and such underlying network characteristics as Low Latency, High Capacity, High Throughput, Consistency, and Full Decentralization.
Most of the blockchains available nowadays enable only two of the three properties described above due to the fact that networks require all nodes to process and verify every single action on the network, which makes the resource usage ineffective. Ethereum 2.0 pushes the envelope with a groundbreaking sharding algorithm, that resolves the network efficiency problem and allows to spread the network load evenly across all nodes. Having this thing realized, we can have a completely decentralized and consistent network.
Perspectives And Plans
At the moment the network operates with no transfers, and reduced functionality so that all active functions can be tested thoroughly. The network is actively testing in Phase 0 and has no shards functionality turned on at the moment, it works with the block size 1.2 MB and slot time 12 seconds. Most of the complexities are related to hosting a large validator count over a distributed network and achieving constant finality.
The goal that the Prysmatic Labs is trying to achieve along with other validators is the network testing with the current specifications that were planned beforehand with the target for multi-client interoperability. Moreover, it’s planned to achieve network stability having a constant growth in validator rewards, reducing validator penalties at the same time due to network bugs.
Everstake Participation
Our team was glad to accept the opportunity to participate in the Ethereum 2.0 Topaz Network. At the moment we are running our node looking for different bugs as well as opportunities to improve the network.
Recently we have successfully updated the Beacon Chain node to v1.0.0-alpha.4 and continue monitoring our node and network for bugs as well as abnormalities.
