Danny Ryan gave a quick update No. 13 on ETH2. The Blog speaks about lot of stuff like multi-client testnet, attacknets, and the eth1 + eth2 merger.
Vitalik Buterin tweeted: “Danny has been doing a truly great job tirelessly pushing forward eth2 development efforts. He’s an effective on-the-ground (decentralized) field marshal in a way I know I would have a very hard time being.”
In this regard, Sydney Ifergan, the crypto expert tweeted: “Vitalik Buterin of Ethereum (ETH) is watchful of the Work on the eth1 -> eth2 merge, which is already happening.”
There are criticisms about this being late and some of them have exclaimed stating oh man we have been waiting long for this. Further expressed, I am so excited to see eth2 coming to life soon. Price is already showing public interest in Ethereum 2.
Some of them were curious to know about the concrete timing for the start of ETH2. Further stated that they can’t wait to begin staking.
While some of them are impatient and asking if the release would be in 2025, there are others who are patient and acknowledge that great things take time. Hopefully more of such quality developments make the ecosystem highly scalable and usable.
Also Vitalik has expressed that he is easily able to see many jobs over the next 10-20 years changing their workflow to “human describes, AI builds, human debugs”.
Ethereum (ETH) Zeroing Towards Deployment
The community is all hope that Ethereum is zeroing towards deployment. Recently, they have announced “Medalla” which is the final testnet before the launch of the ETH 2.0 beacon chain.
The Eth 2.0 overhaul is set to happen on a different blockchain and therefore there will be no immediate change in the near term for the users and dapp developers.
The first phase of Eth 2.0 is based on creating a separate proof-of-stake blockchain network known as the beacon chain. The ETH holders who have a minimum of 32 ETH will be able to earn rewards by annualized interest on their wealth. Also, it is important for the ETH holders to have the appropriate hardware and software which can connect to the beacon chain and also they need to have clarity on how the technology works.
Ultimately, Ethereum will fold in to the Eth 2.0 upgrade completely. The benefits and risks are already discussed by developers. The potential impact of Eth 2.0 including the economic design on coin supply, velocity, and value are available online. Let the reality of ETH 2.0 come in to existence soon.