Ethereum (ETH) 2.0 is born, at least the foundations of its infrastructure with the launch of the beacon chain. For the co-founder of MyEtherWallet, it will take several more years to complete the design of ETH 2.0.
Ethereum 2.0: a big project on the arms of ETH developers
December 1, 2020: date of birth ofEthereum 2.0 with the launch of the beacon chain.
The co-founder of MyEtherWallet, Kosala Hemachandra, nevertheless believes that the path to Ethereum 2.0 is still paved with obstacles.
In an interview with Cointelegraph December 2, 2020, Hemachandra indicated that the team ofEthereum should focus on the features of phase 1, the implementation of which will probably encounter a number of bugs.
This upgrade to address the network scalability issue will likely take many years of work.
Recently, faced with the deadline of November 24 for the launch of the beacon chain, validators mobilized to make the necessary deposits to obtain the required minimum number of tokens ETH.
You don’t buy ETH developers, even with Ether
Kosala Hemachandra believes that the completion ofETH 1 will take another 1 year, and phase 1.5 will take 6 months. Phase 2 would last at least a year and a half.
Another question concerns the influence of the price ofEther on the progress ofETH 2.0. On this topic, Hemachandra said he appreciated the attitude of the developers ETH.
The progression ofEthereum remains constant and developers seem motivated to move forward ETH2 to the next phase, regardless of the upward or downward variations in the price ofEther.
The price ofEther had exceeded 600 USD the day before the beacon chain launch. TheETH is trading at 570 USD as of this writing.
Vitalik Buterin made updates to the roadmap ofEthereum 2.0, after the launch of phase 0.
He also reported progress of less than 50% on data sharding, client stateless and other items needed to finalize ’Ethereum 2.0.
These findings are consistent with those of Kosala Hemachandra : the current version ofEthereum is still around for quite a while.
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ETH holders who have decided to deposit their assets in the ETH2 deposit agreement will have to wait before they can withdraw them. Exchanges like Coinbase are planning to launch intermediated staking services to address this problem. Time is the enemy of ETH2, it is the friend of the most opportunistic crypto companies.
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