- Ethereum is on track for November 2020 release with the multi-client testnet ‘Altona’ already launched on 29th June 2020.
- Vitalik Buterin exclaimed that several factors played role in the delay of Ethereum 2.0 launch.
- Several scalability issues have been improved along with the built-in UX design.
Ethereum 2.0 is on track for November 2020 release with the multi-client testnet ‘Altona’ already launched on 29th June 2020. Vitalik Buterin, the founder of Ethereum, has exclaimed that several factors played role in the delay of Ethereum 2.0 launch. Several scalability issues have been improved along with the built-in UX design. Scalability is one of the goals to upgrade to ETH2.0.
Issues that Led to a Delayed Launch of Ethereum 2.0
Bug fixing is one of the major issues that are yet to resolve. Moreover, the process of fixing and finding code vulnerabilities is quite burdensome. Routine checks, fuzzing, detecting, and security audits may take months. Additionally, the multi-user paradigm approach has caused a lot of delays for optimal development. Seven clients tasked with the up-gradation of Ethereum. A complex management structure run by several administrative teams has also given in to the delay.
There has been a shortage of people at times that enabled competitors to win the race. Potential security threats have hindered the smooth transition to Ethereum 2.0. Delicate efforts are being made to develop the cryptocurrency in the finest ways possible. The advanced technology used in its production has drawn a biased viewpoint from industry experts.
Proof of Staking and Scalability issues being addressed
Validators stake Ethereum on the network and function as nodes on the same. The number of blocks verified is directly linked to the amount of Ethereum a miner can stake. A minimum of 32 ETH required to stake once the shift to 2.0 takes place. It could be a major development from the redundant Proof Of Work system in the current regime. Furthermore, sharding will allow individual nodes to split and create multiple chains on their own.
Scalability, if resolved, will help the network carry out a lot of transactions per second. Moreover, each transaction verified by the existing nodes that allow superiors like Visa to perform 45,000 transactions per second.
Once the founder takes care of potential security threats, spam issues, and functions as proof of staking, the transition will see the light of the day. Thus, Buterin has assured that all issues will be taken care of overtime.