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Ethereum 2.0 to Launch in July, Says Vitalik Buterin. Is It a Comeback?

Vitalik Buterin told CoinDesk’s Michael Casey and Zack Seward that a newly launched Multi-client testnet Ethereum 2.0 is already on track to meet it’s preliminary launch or “Phase 0” requirements. 

Some of the Phase 0 requirements were met a week ago. The motive behind the launching of Ethereum 2.0 is to help transform it from a no-frills proof-of-work protocol to a fully-fledged staking platform. 

ETH 2.0 could solve the current scaling issues, issues with mining, and issues with security.

Also read Vitalik Buterin Highlights Future Plans of Ethereum

Introduction of Schlesi is a major milestone for ETH 2.0

Schlesi v0.1 is a decentralized framework which helps in the communication between ETH 2.0 developers in the same protocol. 

Lighthouse from Sigma Prime and Prysm from Prysmatic Labs are the two clients of  the Schlesi network and their developer teams are testing the multi client service. 

Clients such as Cortex, Nimbus, Teku, and a few others will soon start working on the testnet. Schlesi can be an important move towards a new blockchain which can provide a unique approach to networking.

When will ETH 2.0 launch?

The launch of ETH 2.0 is tentatively penned for July and according to Justin Drake, a researcher at the Ethereum Foundation we can see the phase 0 release before July 30. 

It is still not clear whether the project could follow through in the month of July as it’s previous launch dates were jumped from  January 3 to Q2, and now to Q3.

Buterin said that his developer teams are working to improve their scaling problems. Buterin proposed a layer-2 solution that could help scale to over 1,000 transactions per second.  

ETH 2.0 is believed to provide the largest economic shift in society and it is moving upwards in all fronts.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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