In what seems like an important milestone for Ethereum, the phase zero of the Ethereum Proof-of-Stake Protocol, “Ethereum 2.0” is set for launch early 2020. Based on reports detailing the specifications of the launch, the chosen launch date was picked in reverence to Bitcoin’s genesis block integration years back.
Ethereum 2.0 Set to be Launched in 2020
According to renowned Ethereum 2.0 researcher and developer, Justin Drake, there will be a locking in of the specifications of the phase zero by June 30th. He explained that the launch had two major landmarks to be noted.
The first is the launch of the deposit contract. Drake pointed out that this deposit contract launch is to enable investors and validators accumulate 2 million ETH deposits in line with the phase zero launch.
Acknowledging the possibility of scam deposit contracts due to the nature of cryptocurrencies, Drake explained that there will be just one address which will make things easier for investors. He also gave indications that the launch is expected to be by January 3rd, 2020 with 3 months to accumulate the deposits.
In preparation for the launch, reports indicate that the test net’s client has been properly checked and verified for security and quality controls. According to Drake, the auditing of the system proved that everything is carefully planned.
It is no news that scalability has been one of the constant issues combated by the crypto world. Ethereum’s upgrade to a Proof-of-Stake protocol from its Proof-of-Work algorithm was noted by the team of developers as a move to make it more efficient and solve the scalability issues that had been a drawback for it.
Speaking on the future of the current blockchain protocol, “Ethereum 1.0”, Drake pointed out that there might be a possibility of turning it to a “shard of sorts”
“The native integration should be compared to significantly cheaper medium-term alternatives. For example, a two-way bridge between ETH1 and ETH2 can be built using light clients.”
Though further details of what to be expected in Ethereum 2.0 remains to be seen, it is evident that the much anticipated launch might just be the next step expected to further push for the mass adoption of the cryptocurrency.