Ethereum 2.0 Beacon Chain Set for November Launch, Says Afri Schoedon

  • The launch of Ethereum mainnet is on track for a late 2020 launch, as exclaimed by one of the architects.
  • Afri Schoedon is eagerly waiting to launch the mainnet this year after missing out on several deadlines.
  • Its titan-walls are unbreakable, and for every 32 ETH placed, the holder receives a badge that states ‘VALIDATOR’.

The launch of Ethereum mainnet is on track for a late 2020 launch, as exclaimed by one of the architects. Afri Schoedon is eagerly waiting for the mainnet launch this year after missing out on several deadlines. He states that a holder of ETH1 coins can place as much ETH possible inside a specially designed wallet. Its titan-walls are unbreakable, and for every 32 ETH placed, the holder receives a badge that states ‘VALIDATOR’. The badge can further be redeemed at grocery shops and to buy various items. 

Ethereum 2.0’s multi-client testnet will pave the way for a smoother mainnet

The Beacon chain will be the Phase 0 for the cryptocurrency founded by Vitalik Buterin. Additionally, the latest chain will reach consensus via Proof-of-Stake before shard data is finalized. The deleting or burning of Ether belonging to validators will improve security measures for all investors. As Afri states that once the ETH1 coins melted, they will not be retrieved under any circumstances; instead, rewards and badges will be the form of payment. Buterin’s team is working closely with five client testnet to implement Phase 0. The Altona testnet is up and currently stable for use, while Lodestar is the latest testnet to be added. 

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The official testnet is named Medalla that should mark the final step towards a smooth transition to Ethereum 2.0 mainnet launch. Furthermore, the ETH 1.0 will remain as a shard in the ETH 2.0 network. Reports suggest that the Beacon Chain cannot be launched before sufficient stability seen among the client testnets. 

On-chain Limitations that are Hard to Overcome 

One of the major drawbacks posed by the launch of the mainnet is the ever-increasing costs that could outweigh profits. It makes further investment in the chain worthless as returns could max out at 1.56%. Experts say that there is not enough cash for the network to start due to disorganized management. However, Schoedon claims that they have overcome various off-chain governance hurdles, and it should be a smooth transition to Ethereum 2.0.      

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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