More

    Ethereum 2.0 Not Coming in Q1 or Q2 of 2020 But On the 5th Anniversary of ETH 1.0

    • “95% confidence” in July 2020 launch on 5th anniversary of Ethereum 1.0
    • If ETH 2 doesn’t launch in 2020 “it would be a failure”
    • Ethereum Foundation team members say Eth1 not as dependent on Eth2 that it can’t manage in the worst case

    If you have been waiting for Ethereum 2.0 anytime soon, you have to wait even longer. The postponed date of this launch in Q1 now won’t be possible.

    During the Ask me Anything (AMA) session, Justin Drake, Researcher at Ethereum Foundation said it is “unlikely” that this phase will be launched in this or next quarter if “we want three clients to be production-ready for launch.”

    Drake further explained the need for three clients, “Ideally no single client has more than a 50% share of validators.” Parity launched late and never caught up, as such it is now about 80% Geth and 20% Parity, he said.

    But he has “95% confidence” that Phase 0 will be launched in July 2020 — the 5th anniversary of Ethereum 1.0. And if the launch doesn’t happen in 2020 “it would be a failure,” said Drake.

    Source: @TokenAnalyst

    Danny Ryan, another remember of the Research Team at Ethereum Foundation is confident that Phase 0 will “certainly launch in 2020,” as audits are out and testnets are “getting stronger every week.”

    Scalability not an issue even if Eth2 gets delayed further

    The launch of the new phase can only happen when two parallel tracks are complete which would take roughly five months. The first one involves deposits that includes building and testing the default deposits UI followed by an audit of the deposits by a third-party and then deploying the deposit contacts and permanently point depositcontract.eth to it.

    On the client's side, they will independently work towards production quality through single-client testnets and then multi-client test and final third-party audits.

    Even if ETH2 gets delayed further, Ethereum co-creator Vitalik Buterin says they have stateless clients that prepare the eth1 chain for a merger with eth2 and improve scalability independently.

    Buterin isn't worried about scaling as he explained the Istanbul hard fork already reduced gas costs of CALLDATA to 16 per byte and increased the theoretical maximum throughput to ~2500 tx/sec.

    Diederik Loerakker of the Ethereum Foundation is still confident in Eth1 which he said is “not as dependent on Eth2 and can manage even in the worst case.”

    Ethereum (ETH) Live Price

    1 ETH/USD =$263.6513 change ~ 3.03%

    Coin Market Cap

    $28.95 Billion

    24 Hour Volume

    $2.66 Billion

    24 Hour VWAP

    $262

    24 Hour Change

    $7.9853

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [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

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,288FansLike
    2,765FollowersFollow
    4,134FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Shopify Joins Facebook-led Libra Association To Help Build Stablecoin Payment Network

    E-commerce platform Shopify has announced that it has joined the Libra Association. This means that the online shopping firm is the latest entrant of...

    Tron Launches A New TIP While BTFS Prepares to Deliver Next-Gen Decentralized Storage

    Sprinkle of good news: TPS to add new features to TVM, number of accounts on Tron Network exceed 4.7 million, partnership with Steemit,...

    IOTA Urges Users To Use New Seed Migration Tool After Trinity Wallet Hack

    Following IOTA’s recent hack on its Trinity Wallet, the development team is urging the users to protect their wallets by changing their passwords and...

    Gold Hits 7-Year High As Investors Jump into Safe Haven Assets But Bitcoin Not Following

    Coronavirus outbreak has the investors fearing a slowdown in global growth and piling into safe-haven assets like gold US dollar also rising while...

    Russia’s Central Bank And FSB Agree to Ban Cryptocurrency Payment Options

    A Russian local news source, recently reported that the country’s Central Bank and Federal Security Service (FSB) finally came to an agreement that cryptocurrencies...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.