Ethereum 2.0 Release Date Set for the Eleventh Hour as Issues Persist

Published on by Cointele | Published on

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The launch of Ethereum 2.0 may be delayed yet again after developers rescheduled the network's proof-of-stake algorithm upgrade for June 2020, as reported by Cointelegraph on May 15.

Why is it taking so long for Ethereum to implement its final upgrade phase before becoming truly scalable, and can this delay mean that Ethereum 2.0 is losing the scalability race?

Bug fixing has seemingly slowed down the progress of development as other projects race to launch staking and overtake Ethereum.

The Ethereum 2.0 launch had initially been scheduled for January 2020, but the phase of finding and fixing code vulnerabilities is a long and laborious process for any project, and it's not always possible to evaluate the time needed for these tasks.

Most of the seven individual clients currently under development for Ethereum 2.0 are working on optimizing Schlesi - the first Ethereum 2.0 multi-client test network that simulates the core network environment.

After successful trials of Schlesi, Ethereum developers decided to move forward with the launch of a more formal test network, with several clients scheduled for June 2020.Multi-user paradigmThere are seven client implementations of ETH 2.0 currently available: The Ethereum Foundation Trinity, Prysm Labs Prysmatic, Sigma Prime Lighthouse, Status Nimbus, Lodestar ChainSafe, Teku PegaSys and Cortex Nethermind.

The successfully operating networks launched by these projects demonstrate their ability to achieve in one year what takes years for Ethereum.

Notably, these technologies are yet to be implemented on the main network by the Ethereum developers.

The developers claim that they managed to outstrip Ethereum not only in terms of sharding and staking but also by way of network performance, reaching a transaction processing fee of $0.000001 on the mainnet and 118,000 transactions per second in testnet.

Given the hundreds of thousands of transactions made on the network every day, the postponement of an upgrade as significant as Ethereum 2.0 - aimed at making blockchain use smooth and secure - may merely be the lesser evil.