Ethereum 2.0 to launch in 6-8 weeks says ETH 2.0 developer Ben Edgington

Ben Edgington, issues an update on the progress in the key components of ETH 2.0 phase 0. He also states the transformation in the new version.

By · Oct 21, 2020 . 6min read

Ethereum 2.0 to launch soon news

Ethereum 2.0 developer at ConsenSys, Ben Edgington, provided an update that the ETH 2.0 will roll out in the coming six to eight weeks. He has updated the community on the progress of the critical components. Crypto investors have long anticipated the upgrade over the industry. According to his post, “version v1.0.0 of candidate 0” has been released for phase 0 of the ETH 2.0 or Beacon Chain. However, he introduced some changes made concerning the previous version. 

Modifications in ETH 2.0 Phase 0 new version

According to the blog post, the new version is more immune to denial of service attacks and has had an update in its BLS standard. Accordingly, there has been the exclusion of the zero secret key and the infinite public key with its signature. The post suggests a transformation in a few configuration parameters. An earlier perceived pain point was the genesis delay. This has now been changed to one week. Thus, this indicates that one can know the genesis state seven days before the chain starts. This will benefit both clients in preparing genesis-ready releases while also enabling users to update.

Moreover, they have quadrupled inactivity penalties and minimum slashing penalties to provide stakers more confidence. However, these are just interim measures. Eth1 data voting also underwent some changes. The changes include doubling the voting period (about 6-8 hours longer). It signifies a longer waiting time to make a deposit and become active on the beacon chain.

Moreover, to conclude phase 0’s launch, 500,000 Ether will need to be locked for staking after the beacon chain goes live. However, the deposit contract should be ready within the next few days, and in about 6-8 weeks, the beacon chain should follow.

ETH 2.0 Test Network challenges

Ben Edgington elucidates that the progress made with Zinken following the failure of the first “dress rehearsal” with the Spadina testnet. Nonetheless, it was not a sound test. The developer stated that it operated well enough for the team to concentrate on other parts of the project. However, Medalla still experiences low participation saying that people are getting bored with test networks.

The Ethereum 2.0 test networks have had challenges, particularly with the Prysm client. One of the problems emphasized by Ben Edgington’s post is that users are burdening the client. Consequently, he summoned them not to take a risk and use different clients for Ethereum 2.0.

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