February 2019 has brought some big changes to the Ethereum Network. On February 21, 2019, they announced the recipients of the fifth wave of the Ethereum Foundation grants and now, a key member of their team has found a new role
On February 22, 2019, CasperLabs, a blockchain protocol research, and development company announced that a new lead consensus protocol architect had joined the team in the person of Ethereum Foundation researcher Vlad Zamfir.
Speaking on his work, Zamfir stated that blockchain technology has created a means by which various problems can be solved without depending on large corporations.
However, the technology is still nascent and might not be able to fully implement all the capabilities of blockchain. The solution, according to Zamfir, is decentralized, scalable, and secure public Proof-of-Stake (PoS) consensus protocols that will eventually make mining and Nakamoto Consensus obsolete. Zamfir also said that the Bitcoin and Ethereum communities might not be able to upgrade their protocols.
“I’m excited that CasperLabs has taken an interest in implementing a scalable blockchain protocol from the CBC Casper family of protocols, and hope that their efforts are both independently successful and put pressure on other projects (like Ethereum) to adopt the technology. I am very grateful for CasperLabs’ support of my research and look forward to working with them to see it become a reality,” he said.
The new technology will allow scalability of the blockchain without sacrificing decentralization by making use of the PoS consensus mechanism. Greater ecologically and economically efficiency, as well as increased security, will be achieved by removing the need for mining.
The team behind this is led by CEO Medha Parlikar and Lead Casper Developer Michael Birch, with the latter having experience in production software delivery at Adobe, Omniture, Avalara, MP3.com, and DivX.
Further input will be given by co-founder and CEO of ADAPtive Holdings Mrinal Manohar, along with co-founder, Steven Nerayoff. An unveiling of a PoW protocol will take place on March 1, 2019, at the Alchemist Blockchain Techstars Accelerator event.