Is it more likely to see 1 Bitcoin (BTC) at $ 100,000 or an Ethereum (ETH) 2.0 fully deployed and fully functional in 2021? The year 2020 is coming to an end: a look back at a bet where hopes and forecasts have been and probably will be out of step with reality.
Roadmap: the road so far… and to come
The founder ofEthereum, Vitalik Buterin, announces on December 2, 2020 the update of the roadmap ofEthereum 2.0, shortly after its release.
It presents similar points with the previous version released in March 2020. The new roadmap, however, specifies current progress and subsequent steps, allowing for the full transition to Proof of Stake and the launch of shardings to be planned.
December 1: a simple aperitif, not even a starter?
The 1st block ofEthereum 2.0 was created on December 1, 2020, a major step in the switch to Proof of Stake and the launch of the various features ofETH2.
Ethereum 2.0 should be faster and more reliable than the current network version.
The launch of the beacon chain constitutes phase 0 towards the effective deployment of the network, which should still take time.
Ethereum will gradually switch from Proof of Work to Proof of Stake, with staking on ETH2 having already attracted many investors, although their ETH stakes may be blocked before the actual deployment of phase 2 – exchanges like Coinbase could launch solutions to avoid this problem.
Phase 0 aims to put in place the basic infrastructure ofETH2, with the launch of the base for staking and sharding.
Although the beacon chain was launched in early December 2020, the security and proper functioning of the current network still depends on the computing power of the miners.
May 2019, the developers of ConsenSys planned a launch of the beacon chain the same year.
This was without taking into account the complexity and scale of the tasks to be carried out, thus delaying the effective launch of phase 0.
The director of Bitfinex, Paolo ardoino, indicated that the complete transition to Ethereum 2.0 could last for 3 years, although it does not exclude faster failover.
The beacon chain has made it possible to achieve the bet of a faster, scalable Ethereum and allowing ETH to be staked. The filming of an ETH2 and its miles and one obstacles are far from over, however.
Litecoin, welcome in the Silver Age