The next major iteration of the ethereum blockchain – dubbed ethereum 2.0 – may see a partial launch as early as January 2020.
Proposed by Ethereum Foundation researcher Justin Drake in a bi-weekly coordination call between ethereum 2.0 developers, the date suggestion was raised after affirming that a code freeze over the first iteration of ethereum 2.0, called Phase Zero, was “on track” for June 30.
“We still have quite a bit of time before the end of 2019 so I think looking at a target genesis date towards end of 2019 could be realistic. One thing that could work well is the 3rd of January 2020,” said Drake during the call.
But that January 3rd date isn’t a done deal, in spite of reports to the contrary. Fellow Ethereum Foundation researcher Danny Ryan stressed in email to CoinDesk that the proposed date hasn’t been finalized and additional work on testing ethereum 2.0 will factor into such a decision.
“Although it is feasible, the client teams are not yet ready to commit to a date, especially considering we haven’t entered into multi-client testnets yet. With each phase of development there are plenty of unknowns so we will just keep … tackling them as they come.”
Speaking more deeply to the requirements needed for a stable Phase Zero launch, Drake highlighted that researchers are presently targeting a minimum amount of 2 million ETH staked on the ethereum 2.0 network. By today’s estimates, this would mean the re-vamped ethereum blockchain would be launching with over $500 million in ETH locked by prospective ethereum 2.0 validators, who are envisioned to take on the same role as miners on the current ethereum blockchain.
Forward to Serenity
Since the network’s inception, developers have been looking ahead to an eventual transition to a proof-of-stake consensus model, dubbed Serenity.
Both block creation and transaction validation in proof-of-stake generates rewards for users who attest to the…