• One of the Ethereum researchers, Danny Ryan, said that he “has 95% confidence” that they will launch the network this year. 
  • Ryan also said that regardless of the launch date, Phase 0 and Phase 1 are 99% and 90% complete, respectively.

In a recent “Ask Me Anything” Reddit discussion, the Ethereum 2.0 team noted that the network will not be launched till three clients can run testnets consistently for a minimum of eight weeks. The participants in this discussion included Ethereum co-founder Vitalik Buterin and Eth 2.0 researchers Danny Ryan and Justin Drake. Drake wrote that he “has 95% confidence” that they will launch the network this year. 

Ethereum 2.0 promises higher transaction throughput and a new security model under Proof-of-Stake (PoS). Eth 2.0 has been in the works since Ethereum was launched in 2015. Due to the highly technical nature of the project, the work has been going slow. 

Initially, the launch of 2.0 was expected to take place in January 2020. Now, however, developers are expecting the launch to happen by July 30, 2020 (the network’s fifth anniversary). In the discussion thread, Danny Ryan noted:

Phase 0 will certainly launch in 2020. Audits are out and testnets are getting stronger every week. I don't see a reality in which Phase 0 does not launch in 2020.

According to Ryan and Buterin, Eth 2.0 could deploy Phase 0, the Beacon Chain, which acts as a general manager of Eth 2.0’s PoS system on two stable clients. Other Eth 2.0 researchers are opting for a more conservative approach. Ryan also revealed that regardless of the launch date, Phase 0 and Phase 1 are 99% and 90% complete respectively. Phase 1 will link ETH holders who have staked their assets to the Beacon Chain. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: Bart Simpson pattern implies BTC price manipulations

Bitcoin volatility jumped to November 2019 high amid a sudden price collapse during US trading hours on Wednesday. Bloomberg reports that amid the price decline, 10-days volatility surged to 65%, while the 30-days volatility in the highest since January 28 at 35.40%.

More Bitcoin News

Ethereum Price Analysis: ETH/USD creates double-top formation, risks further sell-off

Ethereum (ETH) now the second-largest digital asset with the current market value of $28.3 billion, has lost nearly 8% in recent 24 hours to trade at $256.0 at the time of writing.

More Ethereum News

LTC/USD breakdown could test $65 ahead of recovery to $100

Litecoin has been posting frequent gains ever since the price broke above the long term resistance trendline that started in June 2019. The recovery has also remained within the confines of an ascending channel.

More Litecoin News

Bitcoin Cash Price Analysis: BCH/USD desperately searches for support, breakdown to $350 looms

The cryptocurrency assets suffered another massacre on Wednesday during the American session. The mid-week recovery posted on Tuesday through to Wednesday turned out to be a bull trap.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast

BTC

ETH

XRP