Ethereum’s Transition to Proof Of Staking In Version 2.0 Scheduled For Q1 of 2020
According to crypto news sources, the first stage of the Ethereum network’s transition to Ethereum 2.0 is expected to take place in January of 2020.
In a recent podcast, Danny Ryan who is a researcher at the Ethereum Foundation explained on the new sharding proposal will allow for a reduction for the amount of shards from 1024 to 64. On top of that, he also touched on the other developments concerning the new Ethereum 2.0. He added that the significant drop in the number of shards would see smaller amounts of on-chain calculations.
Speaking on the latest enhancements on layer 2, he pointed out to the new optimistic virtual machine (OVM) and the ZK rollup. The ZK rollup relies on data availability which is expected to be a massive gain resulting from the reduced number of shards. Danny also clarified to the media about Ethereum 2.0’s zero launch date, saying that he does not expect it to rollout in January.
He added that a team member was making a date suggestion to the public but had been misquoted by the media thus misleading many on the same. He was however very optimistic about phase zero launching in Q1 of 2020.
On the current value of Ethereum, Danny noted that the Ethereum community is very healthy and promising, in his own words he described it as “incredibly valuable and powerful.” He promised that the rollout of Ethereum 2.0 would greatly enhance Ethereum’s growing community.
He believes that at the moment Ethereum is already bullish but the addition of this new feature will only but make it more powerful.