Although there is a lot of uncertainty about the effective release date of Ethereum 2.0, its ‘Medalla’ testnet is still available today.
The date for launching Ethereum 2.0 has not yet been decided, however, the final testnet, Medalla, is scheduled to be launched today.
We have a genesis state for Medalla # Eth2 testnet! Total 20084 validators.
Genesis time is Tuesday 1300 UTC
🍜terence🍜 is ready pic.twitter.com/yJjTtsUDE3
– Terence Tsao (@terencechain) August 2, 2020
We have a start for the Medalla testnet! Total of 20084 validators. The genesis milestone is this Tuesday at 13:00 UTC.
The development of the Ethereum protocol based on Proof-of-Stake and no longer on Proof-of-Work is still in progress. Since the tests have not yet been completed, it is not known when the update will occur.
In order to accurately estimate a date range within which the Ethereum 2.0 mainnet could be launched, it will be necessary to wait for the results of this testnet.
In theory, if all goes well, you can imagine that the final release date could be at the end of the year. However, since the final testnets have bugs to be corrected, it is still too early to have any confirmations that this will happen.
In this sense, there are conflicting points of view even among experts.
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The launch of testnet and the security issues of Ethereum 2.0
There are those who say that this final testnet is the prelude to the announcement of the definitive release of Ethereum 2.0, but there are also those who say that new problems may arise – which would end up postponing such a release.
The point is that everything should work perfectly and present no risk in terms of security, stability and performance for the Ethereum network – which has been widely used, even more than that of Bitcoin.
There are so many tokens, smart contracts and DeFi protocols running on Ethereum that it is not recommended to take risks just to speed up a process that currently seems to be going well.
For example, the founder of MyEtherWallet (MEW), Kosala Hemachandra, said that the full version of Ethereum 2.0 would be at least a few years from its launch.
Kosala says that Phase 0 will be launched in 2020, but the full version is not expected to be operational before 2022 – according to him.
Ethereum co-founder Anthony Di Iorio said he was more optimistic than ever.
Doubts aside, ETH 2.0 is coming!
Meanwhile, the Ethereum Foundation created a special internal team entirely dedicated to the security of Ethereum 2.0. This decision can confirm the MEW founder’s prudent deductions.
Ethereum 2.0 was initially expected to come out in January this year. In August alone, about eight months after the ‘original’ date, a dedicated security team was created.
This gives the impression that aspects involving security may have been underestimated, or that, over time, a priority need has arisen in relation to this crucial factor.
If the team detects previously unknown security problems, the launch of Ethereum 2.0 could be postponed again.