Devcon 2: Vitalik Buterin Presents Mauve Paper
Devcon 2 is just a few days away and updates are constantly underway in order to present the most informative and streamlined event yet.
Vitalik Buterin will be presenting the newest version of the Mauve Paper (Mauve Paper Version 3 at the time of this writing) in a panel titled: The Mauve Revolution.*
His presentation will take place in the Grand Ballroom on September 19, 2016, 4:30-4:55pm.*
Buterin will discuss proof-of-stake, Casper, and sharding, which are the biggest upcoming milestones in the always-evolving Ethereum protocol. Proof-of-stake will offer a reduction in the cost of consensus and is proposed to increase security guarantees. Sharding allows on-chain scaling to tens of thousands of transactions per second while still remaining a network that can simply run on a sufficiently large set of computer laptops. The Casper proof of stake approach introduces a number of concepts that include consensus-by-bet and fork choice by value-at-loss.
Mauve Paper (Version 3) Highlights:
- Efficiency via proof of stake.
- Fast block time
- Economic finality
- Cross-shard communication
- Computational censorship resistance
- BLOCK_TIME: 4 seconds (aiming on the less ambitious side to reduce overhead)
- SKIP_TIME: 8 seconds (aiming on the less ambitious side to reduce overhead)
- EPOCH_LENGTH: 10800 (ie. 12 hours under good circumstances)
- ASYNC_DELAY: 10800 (ie. 12 hours under good circumstances)
- CASPER_ADDRESS: 255
- WITHDRAWAL_DELAY: 10000000, ie. 4 months
- GENESIS_TIME: some future timestamp marking the start of the blockchain, say 1500000000
- REWARD_COEFFICIENT: 3 / 1000000000
- MIN_DEPOSIT_SIZE: 32 ether
- MAX_DEPOSIT_SIZE: 131072 ether
- V_LOSS_MAXGROWTH_FACTOR: 32
- FINALITY_REWARD_COEFFICIENT: 0.6 / 1000000000
- FINALITY_REWARD_DECAY_FACTOR: 1000 (ie. 1.1 hours under good circumstances)
- MIN_BET_COEFF: 0.25
- NUM_SHARDS: 80
- VALIDATORS_PER_SHARD: 120
To read Vitalik Buterin’s full Mauve Paper (Version 3), click here.
*Titles, dates, time, and location are subject to change.
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