Vitalik reveals the latest developments in Ethereum

In this trip in mainland China, the most concerned issue is that Ethereum will soon switch from PoW’s consensus mechanism to PoS. In this regard, Vitalik said that about PoS, people have heard many times, and have been promoted from the concept in the past year; the Ethereum sharding technology can be launched in a few more months; currently, in Ethereum 2.0 The specifications have been written. The Ethereum network is ready for working to convert from the PoW mechanism to the PoS, which is one of the most important goals in the grand upgrade of the Ethereum 2.0. In the research and development of Ethereum, Vitalik talked about the Casper FFG based on the practical Byzantine Fault Tolerance (PBFT) concept, which is the PoS mechanism that Ethereum will implement. He said that in this PoS consensus mechanism, in addition to creating blocks, certifiers (participants) in the system often need to vote on “checkpoints” to quickly block the network.

In this regard, BitTok believes that PoS is a major change to the Ethereum agreement and will change the basic way of Ethereum’s consensus. As a public chain second only to Bitcoin, the transformation of Ethereum will have an important impact on the future technological development of the entire blockchain. For a long time, the various drawbacks brought by the PoW mechanism, such as mining centralization and high energy consumption, may be fundamentally improved. BitTok will also follow this technology trend, giving more attention to the current pure PoS mechanism-driven projects on the market.

As an important part of the blockchain industry, the wallet is also a representative project for the application of Ethereum. According to Vitalik, in terms of wallet, the biggest problem before is the usefulness and security. Now he can solve these problems with smart contract wallet, multi-signature, social account recovery system and so on. However, these choices didn’t exist a year ago, and now you can choose from a variety of options, and each one will get better every month. Smart wallets will become more and more popular in the future. Vitalik hope that when everyone uses it in two years, they will use the smart contract wallet when visiting Ethereum, which is safer than a single private key.

BitTok (bittok.io) also puts a lot of technical power into the security of the wallet. At the asset storage level, the platform adopts the “100% cold storage” mode that is rare in the industry, which greatly ensures the security of users’ assets. Through close cooperation with professional technology providers, BitTok have created a set of complete, rigorous, professional and standardized digital asset storage and solutions: separation of hot and cold end architecture; multi-signature asset management; ensuring that private keys never touch the net , completely eliminate the risk of theft.. In the future, BitTok will continue to launch one after another high-quality technical projects, enrich the investment categories of users, and at the same time, play a more distributed role, and transfer the value of blockchain to the world!