Home Ethereum News Ethereum 2.0 FAQ Released by Ethereum Cofounder Joseph Lubin

Ethereum 2.0 FAQ Released by Ethereum Cofounder Joseph Lubin

  • The Ethereum network co-founder Joseph Lubin has put out an exclusive FAQ that covers the commercial and design aspects of the upcoming Proof-of-Stake version of the Ethereum (ETH) blockchain.
  • According to Lubin’s tweet, the ETH 2.0 will offer improvements in scalability as well as security.
  • However, the entire Ethereum funds will be secured during the transition and as per the ConsenSys team, it is not possible to buy ETH2 Ethers for now.

The Ethereum network co-founder Joseph Lubin has put out an exclusive FAQ that covers the commercial and design aspects of the upcoming Proof-of-Stake version of the Ethereum (ETH) blockchain.

Recently, Ethereum developer eric shared Github link and announced the successful rollout of Ethereum (ETH) 2.0 Multi-client testnet which was joined by Prysm and Lighthouse. Ethereum developer 

Ethereum 2.0 has not been affected by COVID-19 outbreak

As per the document, the time period for rolling-out Ethereum (ETH) 2.0 has not been affected by the market fluctuation and coronavirus pandemic. As previously scheduled, the initial phase will be launched in 2020 where the blockchain will be split into 64 interconnected shards by Phase 1 in 2021.

According to Lubin’s tweet, the ETH 2.0 will offer improvements in scalability as well as security. It will also help in new opportunities for enterprises and for general users to explore more on Ethereum. He added that the Ethereum 2.0 FAQ is a great starting point.

Ethereum 1.0 will accompany Ethereum 2.0 as the first of its shards and will be fully replaced by Ethereum 2.0 within phase 2 that is scheduled for 2021-2022.

Ethereum funds will be secured during the transition

However, the entire Ethereum funds will be secured during the transition and as per the ConsenSys team, it is not possible to buy ETH2 Ethers for now.

Recently, an infrastructure based on blockchain and cryptographic technology PlatOn implemented the first stage code in the Ethereum 2.0 Proof-of-Custody (POC) program to solve the data availability problem which appears in the collective operation of the Ethereum 2.0 design scheme.

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.

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