Pablo Soria de Lachica on the Changes Incorporated in the Ethereum 2.0 Roadmap

Prior to discussing the implications of Ethereum 2.0, Pablo Soria de Lachica marks the importance of understanding the previous iteration of the platform as a decentralized system engineered to run smart contracts.

In July, 2018 during the TechCrunch TC Sessions hosted in Zug, Switzerland the masterminds behind Ethereum—Vitalik Buterin, Justin Drake and Karl Floersch revealed a new roadmap for their platform, marked with major system improvements and greater technical scalability. Ethereum, which offers the cryptocurrency known as Ether, has been widely regarded as the most significant advancement in blockchain technology since the advent of Bitcoin. Pablo Soria de Lachica, an internationally acclaimed trade expert, talks about the forecast impact of planned improvements and how these changes will shape the future of blockchain technologies.

Prior to discussing the implications of Ethereum 2.0, Pablo Soria de Lachica marks the importance of understanding the previous iteration of the platform as a decentralized system engineered to run smart contracts—bespoke applications that operate as programmed without any possibility of downtime, fraud, censorship or third-party interference. It is a purpose-built blockchain underpinned by revolutionary infrastructure, with immense potential to establish a new global economic system and catalyst for collaboration. Since its launch in 2015 Ethereum has enjoyed tremendous market performance, reaching its peak in 2017 when its value token (Ether) grew over 13,000% with a valuation of $131.5 billion, second only to Bitcoin in total value. Despite its spectacular success, a variety of issues related to network scaling and sharding technology have hindered its prospective growth.

In an ambitious plan to address scalability challenges, Ethereum is working with a coalition of developers from Prysmatic Labs to support greater volume of on-chain transactions while balancing decentralization and security. The strategy revolves around a sharding client called Ethereum Casper, a long-planned consensus algorithm proof-of-stake. As revealed by Rocket Pool Senior Blockchain Developer Darren Langley—within the new and improved Ethereum 2.0 system, shards will only be responsible for transaction ordering and data storage while an overlaid execution process will interpret transactions, execute code and write back results. It is expected that the platform will unify the Casper and sharding projects to enable the activation of both upgrades simultaneously. If implemented successfully, the new advancements will allow the system to process high-volume smart contract protocols with much greater efficiency and to update the base layer only when transactions are complete. This will mark the start of a new era of faster and more efficient blockchain technologies conceived via a massive open source project and evolved by a sterling community of researchers and developers.

Pablo Soria de Lachica is a prominent international trade expert, broker and philanthropist. He graduated from the Universidad Tecnológico de México (UNITEC), receiving a Masters degree in Business Administration and soon after launched his successful career in global trading strategy, tailored investments and market analyses. He is a collaborator at Kartoshka—a pioneer of sales, telemarketing, and customer support technologies worldwide. Soria de Lachica is also an author of instructional texts
delivering guidance and expertise on basic and advanced investment techniques and principles. As a notable philanthropist, he has made generous contributions to various organizations including the America-Israel Cultural Foundation, the Jewish Federation of Greater Phoenix and Bridges for Peace.

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