Final test version of Ethereum 2.0 will be launched in August
Updated Ethereum 2.0 Ready To Launch
Proof-of-Stake protocol will be launched in 2 weeks
Experts warn of potential risks
International consortium of news organizations developing transparency standards.
Proof-of-Stake protocol will be launched soon
Just two weeks will separate the crypto community from the launch of an updated version of the Ethereum blockchain, which has been postponed several times for various reasons. This was announced by Platform Launch Coordinator Danny Ryan (@djrtwo) and shared the news on the Testnet discussion board on Discord.
“After discussions with customer groups, the next multiplayer testnet (mainnet configuration that includes minimum validator numbers) will be launched as soon as possible, more precisely on August 4th,” he said..
The company will announce the details of the launch of the test network in the near future..
ETH 2.0 Phase Zero has been launched since the creation of the Genesis Block for the Beacon Chain in April. Stage 0 is the first stage of the long-awaited upgrade of the network to the Proof-of-Stake protocol and will significantly increase the speed of transactions.
Instead of the existing Proof-of-Work system, in which miners are involved, ETH 2.0 will be protected by users’ funds, who will invest at least 32 ETH to launch the validator node.
Ethereum 2.0 forks and risks
Despite the fact that the crypto community has been waiting for the launch of the updated platform, some crypto experts express certain concerns related to the work of Ethereum 2.0. So a group of cryptanalysts is skeptical about the ETH token staking program and associates a number of risks with this function. For example, the betting program inside the Ethereum system has not been fully thought out, and the algorithm for “freezing” funds on the validators’ wallets actually limits the access of holders to their own assets.
Best Coin To Make You A Millionaire in 2021
This could lead to security problems, reports Cointelegraph. According to experts, the betting system is difficult for users to understand, which means that it will cause many problems in the future..
The former Ethereum hard fork coordinator, blockchain engineer Afri Shoedon, also points to the vulnerability of the network. He said that a fork happened in the test version of the platform.In the cryptocurrency world, a fork is, in fact, a change in the blockchain protocol. Since cryptocurrencies operate on decentralized networks, all parties … More. It was not possible to receive tokens from the fork, but interest in the event from users increased significantly.
Ethereum co-founder Vitalik Buterin responded to sudden fork in Schlesi test environment.
Buterin claims that unscheduled forks constantly occurred between March and April 2015 on the Ethereum Olympic testnet..
“Reminds me of the good old days! (In March-April 2015, similar things happened many times on the Olympic testnet before the launch of eth1) “, – wrote Buterin on Twitter.
So far, there are discussions in the developer community about whether what happened is a positive event or not..
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..