Vitalik Buterin Insists on Launching Ethereum 2.0 in November 2020

Vitalik Buterin Insists on Launching Ethereum 2.0 in November 2020

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Vitalik Buterin hopes that Ethereum 2.0 will appear in November 2020, but the developer Justin Drake believes otherwise. According to Drake, ETH 2.0 should be expected no earlier than January 2021. Such a development of events does not suit Buterin, who by all means wants to bring the release of the update closer.

Justin Drake doubts the launch of Ethereum 2.0 at this stage. The developer believes that it will take at least two months to fix errors after starting the test network. Besides, this will occur during the December holidays and Thanksgiving. Thus, identifying network imperfections can take even longer than originally thought.

The main changes in ETH 2.0 will be the transition from the proof-of-work to the proof-of-stake model, which will improve the scalability and speed of the network. Miners will also be affected by innovations – cryptocurrency owners will take their place, who will receive a reward for storing tokens.

The concept of the “proof-of-stake” model interested Buterin in 2015 – it was then that he began to plan its implementation by 2018. Nevertheless, the implementation of this idea required serious resources and the amount of time, but the update was constantly postponed.

Initially, it was planned to launch a test network in January, and then information appeared about June and July 2020. Now the developers will again need several additional weeks to prepare. Network users are actively discussing the delay, and some of them have already begun to doubt the correctness of the chosen strategy.

According to Buterin, the launch of phase 0 should have been done before January 2021. The degree of readiness is not so important, because, at the initial stage, developers will have everything necessary to solve potential problems with proof-of-stake. Buterin believes that Ethereum 2.0 will not cause serious difficulties, so he sees no reason to spend more time than required.

Most of the community supports Vitalik Buterin, but the developers believe that the rush can lead to more serious consequences. The story of 2015, when two teams of programmers worked with Eth, Geth, and Alethzero clients, is given as a deplorable example. Due to the pressure, it was decided to launch the network until Alethzero is fully operational, which subsequently led to the over-centralization of the network.

At this stage, two clients are fully prepared for Ethereum 2.0, and 4 others are already close to completion. Thus, the presence of several full-fledged clients will allow them to develop a truly decentralized network.

Buterin is confident that two clients will be enough to launch Ethereum 2.0 within a year. Some resources began to offer to bet – bookmakers give 51% that the network will be launched before 2021.