Ethereum 2.0 Will Be Launched in July 2020

News / 07.02.2020

Ethereum 2.0 was scheduled for launch in the second quarter of this year. However, it has been postponed. Despite the postponement, developers remain self-assured that the deployment of the original network parameters will happen this year.

The team in charge of the upgrade called Ethereum 2.0 clarified certain things in a Reddit discussion held on Feb. 5. According to the team, the launch will come after three clients are able to run testnets continuously for a minimum of eight weeks. Ethereum 2.0 researchers Danny Ryan and Justin Drake as well as Vitalik Buterin are AMA participants.

Drake said he is 95 percent confident that the upgrade would be launched this year.

Ethereum 2.0 seems to be the immediate iteration of the top smart-contract blockchain. According to reports, it will offer higher transaction throughput as well as another security model within the context of Proof-of-Stake (PoS).

Since Ethereum was launched in 2015, the Ethereum 2.0 frequently known as Serenity has been in the pipelines. Nevertheless, it could not develop at a faster rate because the efforts are quite technical.

Its launch was initially planned for January this year and later postponed to a date in the second quarter of 2020. The developers are looking forward to launching the project during the fifth anniversary of the network on Jul. 30 this year.

Ryan ascertained the launch of phase 0 this year as audits are out and the strength of testnets keeps increasing weekly. He said he does not foresee anything that will stop it.

The deployment of the Beacon Chain, Phase 0, might come through Ethereum 2.0, says Buterin and Ryan. The Beacon Chain manages the PoS system of Ethereum 2.0 on only two stable clients. However, other Ethereum 2.0 researchers hold a more conservative approach to this issue.

Without regard to the launch date, the percentage completion levels of Phase 0 and Phase 1 are 99 and 90 percent respectively. Ethereum holders who have staked their assets to the Beacon Chain will be linked through phase 1.

 

Featured image courtesy of Shutterstock. Source: Cryptopress.

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.