Ethereum 2.0 client developers are now working on implementing the latest spec that has been published following an audit.

Danny Ryan, the ethereum 2.0 coordinator, said the release “fixes a couple of bugs found in the Phase 0 spec… and continues the refinement of the networking specs as client teams work through implementations.”

Paul Hauner of Lighthouse said they are “planning to merge our v0.11.1 update into master today or tomorrow.” That being the latest spec.

Spec version 0.11 was much anticipated as it gives the greenlight for the launch of a multi-client testnet. Hauner says:

“We’ve had some great input from Afri Schoeden who has started ramping up efforts to facilitate a multi-client Eth2 testnet.

Afri generally needs no introduction, but has been working on Ethereum for a long time and was involved in the launch of the successful Goerli testnet.

Afri has been working with our developer tooling and in some cases has been the first user beyond the author.

Some great bugs have been discovered and very detailed and helpful issues have been raised, thanks Afri.”

The deposit contract has been finished as far as we are aware, but that won’t go out “before there is a target eth2 launch date,” according to Ryan who also further said today:

“The Least Authority audit helped us patch a few DoS vectors in gossip messages with additional validation conditions (Issues A & B), highlighted a known concern about the public block proposer leader election (Issues C & D), and spurred further investigation into potential DoS attacks using libp2p gossipsub control messages (Issue G).”

So it looks like this is gearing up for its final stages, with the big step now being the multi-client testnet launch which they’re working on.

At that point everyone will get a better idea of what the new ethereum blockchain is like, with it then requiring a further three months for the live launch presuming all goes well on the testnet.

After the live launch things start getting even more interesting as devs start furnishing what initially would be a very skeleton blockchain where you just validate eth 1x blocks, but in a kind of sharded like system as validators are allocated to different subnets – sort of shards.

Then a bit more meat is added in phase 1 in regards to storage sharding with this becoming fully useful only once full sharding launches in phase 2.

A big event before that is the planned merger of the current Proof of Work (PoW) blockchain into the new Proof of Stake (PoS) blockchain in phase 1.5.

That reduces inflation to just 0.22% a year from the current circa 4%, but details of how this merger would work exactly are sparse with the focus currently mainly on getting the multi-client testnet out first and then the genesis block which might go out this summer.

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