Vitalik Buterin claims Ethereum 2.0 is still on schedule

  • Ethereum developers recently launched the multi-client testnet that will encompass four clients.
  • Vitalik Buterin says that using a new demo from Optimism, the old and the new chains can handle 1,000 TPS.

The co-founder of Ethereum Vitalik Buterin said on Monday that the journey to Ethereum 2.0 is still on track. He was speaking after the network commenced the multi-client testnet during Coindesk’s Consensus: Distributed conference. The new network has been given the name “Schlesi” and represent a big milestone in the development of Ethereum 2.0. The testnet requires that at least two compatible clients work together for a period of not less than two months.

At the moment, the two clients operating with the Schlesi Network are Lighthouse from Sigma prime and Prysm from Prysmatic Labs. Two more clients, Teku and Nimbus are expected to start validation on the network. Following a successful run by the four clients, Ethereum developers will move to the official multi-client testnet phase.

While commenting on the ability of Ethereum 2.0 to support a capacity of 1,000 transactions per second, Buterin said that they are exploring a new demo of Optimistic Rollup from open finance protocol Synthetix and research group Optimism. The demo currently shows that transaction delay can be reduced by 75X.

“There’s a lot of work on scalability. There’s also a lot of work on the cryptography and privacy that will make the technology possible to implement on the Ethereum public chain,” said Buterin. “It’s moving forward on all fronts.”

Also read: Ethereum Price Analysis: ETH/USD stalls under the 50% Fibonacci as Bitcoin halving goes by unnoticed

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