- The latest blog released by ethereum indicates, ethereum 2.0 would take a long period substantially to release.
- The incremental developments to ETH 1.x will put a halt to the full rollout of ETH 2.0 for the coming years.
Per the recent official blog post by Ethereum developers, Ethereum 2.0 would take a long period substantially to release, though many in the exchange were excited about Ethereum 2.0 coming soon.
The 1.x Files: a fast-sync, posted on their official blog that developers are now on their mission on formulating more incremental upgrades to Ethereum 1.x. They are taking it slow and steady not to disturb the original operational chain during this transition period. This assignment may take at least another 3-5 years before which a dramatic upgrade to Serenity (ETH 2.0) arrives.
The reasons for the delay are quite complicated and multifaceted.
Griffin Ichiba Hotchkiss stated few real-time issues faced by developers, which include chain storage capacity, block size, and transaction throughput, and state size and network performance. The team has started its mission of mitigating these problems.
Migrating Ethereum 1.x
Leaving the existing ETH 1.x to Serenity is difficult because the original transactional chain must stay alive. It would have been simpler if the up-gradation to Serenity started from scratch. The incremental developments to ETH 1.x will put a halt to the full rollout of ETH 2.0 for the coming years.
Ethereum has been staying neutral to the concerns about giving concrete timelines, but media posts have stated that Q1 2020 would be the tentative date for ‘phase zero’ of Ethereum 2.0. Danny Ryan, a researcher at the exchange, said reporters that arbitrary date was announced during a public call with the team and media just picked up on it, and it is still unclear about the launching date.
Phase zero of Ethereum 2.0 would be seen as the first step in a long process and is not anything close to full launch. Phase zero will enable staking and preceding ETH 2.0 for the first time, but then this asset cannot be withdrawn or transferred during the initial stage. Therefore, it’s just the shift of ETH 2.0 in place of ETH1 will be what stakes would see during this phase.
The transition of ETH 2.0 will necessarily involve two ethereum chains and cryptocurrencies synchronizing at the same interval. ETH1.0 and ETH2.0 will have separate market values and will both be trading on exchanges until a full version of ETH 2.0 is tossed out. This period will believe in proving a significant moment for the world’s leading digital exchange forum, and it must prove to be a worthwhile up-gradation and feasibility in the market and industry.