In a "Quick update" on the Ethereum Foundation blog, developer Danny Ryan confirmed the release of the v1.0 specs for the hotly anticipated Ethereum 2.0 upgrade, which includes the mainnet deposit contract address.
If staking continues at the current rate, the Ethereum 2.0 mainnet will launch not on Dec. 1, but in the early weeks of 2021.
So what are the next steps, and when can Ethereum become fully scalable? The beacon chain launch is known as Phase 0 on the Ethereum 2.0 roadmap.
Perhaps the most significant milestone for the existing Ethereum 1.0 ecosystem will be Phase 1.5, when the Ethereum mainnet joins the beacon chain as a shard chain.
Only when the final stage of Phase 2 comes around will it be possible to assess the full effect of the Ethereum 2.0 upgrade on the network's scalability.
Rather than focusing on the development of Ethereum 2.0 as the endgame, it's worth taking a bird's eye view on the evolution of the Ethereum ecosystem over the coming years.
Despite coming into some criticism, layer-two solutions still offer the best hope of Ethereum scalability in advance of the Ethereum 2.0 mainnet becoming fully operational.
The launch will come with a Linux-based infrastructure, effectively making a scalable version of Ethereum available to developers used to mainstream standards.
It's worth pointing out that the arrival of Ethereum 2.0 won't negate the development efforts of the layer-two platforms currently attempting to solve for scalability.
Ethereum 2.0 may be gearing up for an initial launch, but it's still only the first of many steps on the long road to scalability.
Ethereum 2.0's long and winding road to scalability launch
Published on Nov 18, 2020
by Cointele | Published on Coinage
Mentioned in this article
Recent News View All
The Dark Future Where Payments Are Politicized and Bitcoin Wins
Satoshi Nakamoto intended Bitcoin to be used for online payments.
Oasis Network mainnet launches touting privacy for loans and genomes
Oasis Labs has announced the successful launch of its Oasis Network mainnet, with more than 70 independent validators already live.