Ethereum Developers Raise "Flag" Again: Ethereum 2.0 to be Launched in July

Ethereum 2.0 has been confirmed not to be released in the previously anticipated second quarter of 2020, but Ethereum developers remain confident in deploying it in 2020. They claim that regardless of any technical issues that may arise, failure to achieve this will be considered a failure.

• Participating in the staking mechanism requires 32 ETH
• Scheduled to officially transition to ETH 2.0 on July 30th (Ethereum's birthday)

The Ethereum 2.0 development team held an AMA on Reddit, with participants including Ethereum co-founder Vitalik Buterin, Ethereum 2.0 researchers Danny Ryan, and Justin Drake.

Justin Drake: 95% confidence to launch in 2020

Ethereum 2.0 is the latest version of Ethereum, expected to transition to a Proof of Stake (PoS) mechanism and increase transaction throughput. Since its launch in 2015, Buterin has divided the development process into four stages: Frontier, Homestead, Metropolis, and Serenity, with the upcoming phase being Phase 0.

Ethereum 2.0, also known as "Serenity," represents the fourth stage, which will fully transition to a Proof of Stake (PoS) mechanism. Due to the high technical complexity, the development process has been relatively slow.

Ethereum 2.0 was initially set to launch in January 2020, then postponed to the second quarter, and now the release date is scheduled for Ethereum's fifth-anniversary celebration on July 30, 2020. Danny Ryan stated:

Phase 0 will definitely launch in 2020. Audits have concluded, and the testnets are ramping up weekly. I don't see any reason why Phase 0 wouldn't launch in 2020. Phase 0 and Phase 1 are 99% and 90% complete, respectively.

After Phase 0

Phase 0 will establish the Beacon Chain, the new foundational chain for Ethereum 2.0, similar to the PoW main chain of Ethereum 1.0.

In the coming months of Phase 0, ETH holders wishing to participate in Ethereum 2.0's staking mechanism will need to have 32 ETH, transfer the coins into contracts, register public keys, undergo verification, and transfer to the Beacon Chain. Ryan mentioned:

Regarding the contract audit for ETH, it is expected to occur in the first quarter of this year. The number of nodes could reach millions, representing 10% of the Ethereum supply (currently valued at approximately $23.8 billion).

Reports indicate that the Ethereum 2.0 team is still researching how to securely transition the current Ethereum network (PoW) into the Ethereum 2.0 version.

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