Ethereum 2.0 launch in July on as Vitalik Buterin dispels rumors


The anticipated Ethereum 2.0 launch will go on as earlier planned. The launch is slated to happen in July and Vitalik Buterin, the platform’s co-founder has dispelled rumors that the event will be delayed further. He goes on to add that there are no changes to the schedule.

The co-founder added that the platform 2.0 testnet is live and its first implementation phase commenced seven days ago. Once completed, Ethereum network participants will migrate to the Proof-of-Stake (PoS) protocol. This is anticipated to usher a new era for the largest altcoin by market cap.

Increased interest in Ethereum 2.0 launch

Despite the increased interest in the Ethereum 2.0 launch, fears the upgrade might be delayed. However, a multi-client ‘Schlesi’ testnet is up and running under two Ethereum clients Lighthouse and Prysm. Teku and Nimbus are planned to be added to work in sync with Schlesi. This is just the initial phase that will usher in the MainNet.

Buterin goes on to say that away from the platform development, there are other projects that are focusing on the scalability of the Proof-of-Stake ecosystem. Giving a peek preview of what users should expect, the co-founder says transaction speeds and verification will be accelerated through sharding.

He goes on to say that the team is working on ‘Optimistic Rollup’ that will optimize the throughput of the platform:

There’s a lot of work on scalability. There’s also a lot of work on the cryptography and privacy that will make the technology possible to implement on the Ethereum public chain.

Doubts among users on Ethereum 2.0 launch

The assurance comes at a time when there are doubts about whether the Ethereum 2.0 launch date still stands. However, an Ethereum Foundation researcher Justin Drake feels the timing is just right since the platform will be celebrating its fifth anniversary around the same time.

Earlier this week, Drake has suggested the inclusion of price feed to track select assets that will enable actualization of decentralized oracles for these select digital assets. This was opposed by Buterin saying the feed will compromise the process of block verification:

Validity is a deterministic function, and availability (i.e. non-censorship) can be verified by online nodes, and there are even techniques 6 for online nodes with low latency to reach consensus on whether or not a blockchain is censoring transactions. This proposal, on the other hand, aims to introduce a property of the chain that cannot be programmatically verified under any assumption even in principle.

Share link:

Albert Kim

Albert Kim is a full time tech content developer and writer specializing in blockchain and cryptocurrencies. He has been in the tech industry for the last 7 years helping businesses scale up their potential to the next level.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Subscribe to CryptoPolitan