Ethereum Development Milestones
Ethereum is one of the most popular projects in the crypto community. Moreover, it is one of calling cards of blockchain technologies. Naturally, it is well known to anyone aware of cryptocurrencies and related topics.
Even though Ethereum is a difficult project in terms of its development, it demonstrates rapid and persistent growth. Its evolution can be divided into three main stages. The first one is popularisation of Ethereum as the “global computer”. The second stage is minor updates without significant changes in the core elements of the network. These updates are emitted from time to time. The third and most complex stage is major shifts in the Ethereum environment and paradigm. Such shifts are planned in advance. Everyone can examine them in the Ethereum roadmap.
Global Ethereum Roadmap
Ethereum global plans include four milestones called Frontier, Homestead, Metropolis, and Serenity. They were amply described in 2015 by Vinay Gupta, although the same data was partially shown in different posts and interviews earlier.
In January 2019, we are in the middle of the Metropolis update. As any other update of the PoW-blockchain cryptocurrency, it should be performed through forks. Initially, it was planned to separate Metropolis into two parts called Byzantium and Constantinople. The first update stage was performed successfully on October 15, 2017. The second half was supposed to be implemented on November 2018. Unfortunately, because of consensus issues it was delayed. So currently, Ethereum is in the heart of the update process, while developers are searching for the best plan for future. According to the latest data, the launch of Constantinople is scheduled approximately from January 14 to January 19, 2019.
Each update is an interesting set of proposals and major changes. United together, they are the driving force of the Ethereum's evolution. Step by step, they are leading participants to the finalized solution accepted by the majority.
However, before moving onto a detailed overview of Metropolis, let's briefly consider the main milestones of the Ethereum development, announced by the developers.
Frontier was the simplest presentation of the Ethereum network. User interface was as minimal as possible. An operation set was limited to ether mining, mining rig configuration, ether sales, and smart contracts launch. “Safety” was the key word for Ethereum advertisement. Ether-to-bitcoin trading was also available.
The second working mode of the Ethereum network was launched on February 29, 2016. Three Ethereum improvement proposals were included in this update: EIPs #2, #7 and #8. The main advantages of that milestone are stability, safety and the ability to run Dapps with a certain amount of reliability.
Divided into two parts, this update is a significant step on the path to Serenity. In general, it supposes to include an interface for inexperienced users, the Dapp store, and the high functionality of applications. Some other minor changes are shown in EIPs included in the update list.
This is the final stage of the Ethereum evolution — it is sometimes referred as Ethereum 2.0. This update should bring and finalize the following features: PoW to PoS consensus switch, flexible and scalable network, fully functional Dapp software.
We are in the very heart of the Ethereum project development, and are moving towards the final stage of its evolution. The huge technological solution was started by a small group of enthusiasts who had a very simple idea. Now, it’s the project that involves hundreds of people around the globe. In our next articles, we will describe some details of its current state.