Altcoin News: The Launch of Ethereum 2.0 Is Scheduled for January 3, 2020

June 17, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Ethereum 2.0 phase zero with support for the Proof-of-Stake consensus mechanism should be launched on January 3, 2020. Trustnodes writes about this with reference to the statement of ETH 2.0 researcher Justin Drake.

According to Drake, this date was not chosen by chance — exactly 11 years ago the first Bitcoin block was released that day.

By June 30, the developers intend to approve the specifications of the zero phase ETH 2.0. Before launching the network, they need to create a deposit contract, to which the validators will be able to credit their funds. It is assumed that the launch ceremony of the contract will be held at the Devcon conference on October 8–10 in Japan, which will avoid the spread of fraudulent addresses for deposits.

Ethereum founder Vitalik Buterin explained that when starting ETH 2.0, they intend to follow the same principles that were followed when creating the original network, namely, to carry out painstaking work on catching bugs based on the test network.

Currently, there are at least three test networks ETH 2.0, each based on its own blockchain. The next stage of testing will consist of the formation of a single network with the support of several clients — its opening may occur in a few weeks.

While the launch of a full-featured network or the second phase of ETH 2.0 probably remains for about two years, the developers continue to discuss what to do with the first version of the protocol. Initially, it was assumed that it would be organized in a separate shard, but Drake argues that such a decision will require considerable effort in the context of development and management. As an alternative scenario, the possibility of creating a tool to ensure the compatibility of the two protocols is being considered.

In May, Buterin came up with an initiative to create a new type of contract in Ethereum 2.0, which will allow copying the rules in effect in other blockchains, including Bitcoin and Ethereum 1.0.

Author: Marko Vidrih