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ETH 2.0 has been delayed once again, but the developers remain hopeful

Feb 8, 2020 | Cryptocurrency

In the cryptocurrency space, evolution is crucial to any project. For Ethereum, the foundation to upgrade to ETH 2.0 has been laid well in advance.

Unfortunately, it would appear that this upgrade has been delayed once again. For now, an undisclosed data in 2020 remains a viable target. 

ETH 2.0 Isn’t Coming yet

Following two core hard forks in the past few months, many people expected ETH 2.0 to launch shortly after. That is not the case. The developers had hopes to introduce the upgrade in Q2 of 2020. Sadly, that deadline will not be met either. It is often better to postpone and do final touch-ups rather than launching broken code.

According to the team, postponing the launch is the only viable option. Several factors need to be met first and foremost. Until three clients can run testnets continuously, there is no point in moving forward. Those testnets need to be capable of running for at least eight weeks without interruption. So far, that has not been possible, albeit progress will continue to be made behind the scenes. 

Despite the setback, there’s ample optimism. All of the core developers are confident Phase 0 of ETH 2.0 will launch this year. Audits are being finalized and the testnets grow more robust. As such, it seems very likely that some big changes will come later this year. Step by step, the Ethereum ecosystem will continue to grow and evolve.

Phase 0 Details

There are a few things known about ETH 2.0 Phase 0. The main focus is the Beacon Chain. It is a “manager” of Ethereum’s switch to proof-of-stake in the future. It is one of the potential solutions to lay the foundation of this transition. The actual approach has not yet been decided upon just yet.

Assuming Beacon Chain remains the go-to solution the developers hope for, it is the foundation for Phase 1. During that phase, Ether holders staking their assets will be linked to the Beacon Chain. It is evident that the switch to PoS will not come easy. It will need to be monitored closely before any major changes can occur.

For now, there is no reason to be concerned. Now is there much reason for major excitement either. ETH 2.0 has been in development since 2015. Over four years later, it is still far from done. 

Images courtesy of their respective sources.

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<a href="https://fintoism.com/author/oglock/" target="_self">JP Buntinx</a>

JP Buntinx

JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.

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