ETH 2.0 – In “Ask Me Anything” session on Reddit, Ethereum’s developers working on ETH 2.0 said the network won’t launch until at least three clients can consistently run testnets for at least eight weeks. ETH2.0 is the next iteration of the largest altcoin by market capitalization, promising a higher transaction throughput under the Proof-of-Stake (PoS) consensus algorithm.
ETH 2.0 has been in the works since 2015, but due to the upgrade being highly technical, it has been delayed from its initial launch date of January 2020 to July 30, 2020. The AMA included Ethereum co-founder Vitalik Buterin and ETH 2.0 researchers Danny Ryan and Justin Drake. Drake said:
“I have 95% confidence we will launch in 2020.”
Ryan said Phase 0 and Phase 1, which will ink ETH holders who have staked assets to the Beacon Chain, are 99% and 90% ready, respectively.
Keeping in mind that it is a PoS network, asset holders are rewarded for pledging their coin holdings to protect and validate the network. It is reported that Eth 2.0 will require 32 ETH, valued around $6,400, (as at now) to participate as a validator.