Ethereum founder Vitalik Buterin and core dev/researcher Danny Ryan had submitted a formal proposal detailing the various implementations in the much-awaited network upgrade, ETH 2.0, according to a September 16 tweet by ETHBoston co-organizer Justin Leroux.
Get those validators ready everyone, we're close.https://t.co/OeLI8ZqSoz
— Justin Leroux (@0xMidnight) September 16, 2020
Phase 0 to Launch Before the end of 2020
Two months after deploying the Medalla testnet, Buterin and Ryan had unitedly submitted an EIP that details the new implementations under Phase 0. After approval, we will witness the rollout of the Beacon Chain, a new PoS-based blockchain that will run alongside the old PoW chain.
It needs to be noted that most of the functionalities of ETH 2.0 will not be available yet, including staking and sharding. Phase 0 will serve as a genesis release which would initially set up the networks PoS system.
The Ethereum team may have had a bad rep because of all its delayed protocol upgrades in the past, but this time they are confident that at the very least, the first iteration will be ready for release within the year. Even Ethereum developer Justin Drake, who had initial doubts on Serenitys release timeline, appeared to have changed his mind and is working at full steam to make sure the iteration is released on time.
Loud and clear! 🙂
The community wants phase 0 genesis in 2020—not one day late. The goal is set; let's ship.
— Justin Ðrake (@drakefjustin) July 11, 2020
The Promise ...