Ethereum developers are aiming for July 2020 for the launch of ETH 2.0

Ethereum developers aim for July 2020 for the launch of ETH 2.0 - Ethereum 2.0Eth 2.0 will not be launched in the second quarter of 2020 as expected, but developers remain confident that it will happen by the end of 2020 anyway.

In a discussion on Reddit "Ask Me Anything" (AMA), the Eth 2.0 team stated that the network will not start until three clients can consistently testnet for a minimum of eight weeks.

AMA attendees also included ethereum co-founder Vitalik Buterin and Eth 2.0 researchers Danny Ryan and Justin Drake.

The move to Eth 2.0 promises higher transaction throughput and a new security model in Proof-of-Stake (PoS).

Also called Serenity, Eth 2.0 has been in the works since the launch of ethereum in 2015, but the technical difficulty of the job is such that it has not yet come to an end.

The launch of Eth 2.0 was initially scheduled for January 2020, subsequently for an unspecified date in the second quarter of 2020.

Developers are now looking to the network's fifth anniversary, July 30, 2020, for the Eth 2.0 debut.

Phase 0 completed 99%

"Phase 0 is sure to begin in 2020. The reviews are finished and tests improve every week," Ryan said in the interview.

Ryan and Buterin believe that Eth 2.0 can implement Phase 0, the Beacon Chain, which performs the general management of the Eth 2.0 PoS system, on only two stable clients.

Regardless of the launch date, Phase 0 and Phase 1 are 99% and 90% completed, respectively, Ryan said.

Phase 1 will connect the owners of ETH who have committed their resources to the Beacon chain, joining the nodes to the supporting structure of the new network.

Audit and testnet on new sections of code - like a Lite client capable of running on an Android smartphone demonstrated by the developer of Ethereum Nimbus - remain extraordinary tasks, said Eth 2.0 researcher Diederik Loerakker.

Spring cleaning

The next few months are also expected to include a major update for Ethereum currency holders wishing to participate in the launch of Eth 2.0: staking. Eth 2.0 will require 32 ETH, currently valued at around $ 6.400, to participate as a validator.

And as a PoS network, those who invest their resources to protect and validate the network will be rewarded.

The team said the number of validators could be in the order of one million, and some argue that up to 10% of the ether volume, which has a current market capitalization of $ 23 billion, could be aimed at Eth 2.0.

Finally, the Eth 2.0 team continues to study a way to integrate the current ethereum network, a Proof-of-Work (PoW) network, into Eth 2.0.

For this reason, a set of short-term updates called Eth 1.x has been created, to be applied while Eth 2.0 is being developed and until it is completed.