ConsenSys Developer: Ethereum 2.0 Genesis Beacon Chain Launch Is ‘Six To Eight Weeks Away'

Following the successful launch of the Zinken testnet “dress rehearsal” for Ethereum 2.0 Phase 0 launch, ConsenSys developer Ben Edgington, believes the protocols deposit contract from ETH 1.0 will launch “any day now.” He further predicts the mainnet is ready for launch, and we could see ETH 2.0 Beacon chain before the end of the year.

After a long wait for the launch of ETH 2.0, Ben believes Ethereum developers are moments away from launching the platform’s deposit contract. Over the weekend, a published post, the ETH 2.0 focused developer at ConsenSys, further stated the genesis beacon chain would be released in the “next six to eight weeks.”

Ben emphasizes that this is not an official statement on behalf of all ETH 2.0 developers and also warns users to be careful while selecting a deposit contract. Before sending your real ETH to any smart contract, make sure it is from the official communication channels to avoid losing your tokens. You can almost guarantee there will be mass scammers hitting Telegram and Twitter offering up fake addresses.

A long run of test nets

Ethereum 2.0 new upgrade is set to change the proof of work (PoW) consensus algorithm to a proof of stake (PoS) algorithm. For the Beacon chain to successfully launch, 500,000 ETH will need to be staked once the deposit contract goes live, and a week’s delay for the platform to fully launch with no issues.

In preparation for the beacon launch, Ethereum developers have run three testnets – Medalla, Spadina, and Zinken – the latter proving to be the only successful one. Spadina testnet, a genesis dress rehearsal for the Phase 0 launch, was “slightly bumpy,” leading to the launch of Zinken testnet earlier this month.

According to Ben, the Zinken testnet also has its own problems but performs sufficiently enough for the developers to start testing the real thing.

“It [Zinken testnet] wasn’t perfect, but went smoothly enough for us to turn our thoughts now towards the real thing.”

Further touching on the low participation levels on Medalla testnet, Edgington stated the community is fed up with the increasing number of testnets – calling for the release of the real ETH 2.0 mainnet.

Edgington further highlighted some of the new features on the latest published v1.0.0 release candidate 0, including multiple changes to the testnet candidate currently running on Medalla. Some changes include the genesis delay by one week after ETH 2.0 launches, changes to Eth1 data voting, and the slashing penalties.

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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