Ethereum transitions to PoS consensus mechanism in July

The launch of the Ethereum 2.0 network with support for the Proof-of-Stake consensus mechanism should take place as planned in July, he saidproject co-founder Vitalik Buterin at the Consensus: Distributed conference this Monday.

Initially launching the Ethereum 2 network.0 was scheduled for January 2020, but was subsequently moved to the second quarter, and then to the third. Since the beginning of the year, developers have focused on July. Many expect the network to launch on July 30, the fifth anniversary of Ethereum (ETH).

Vitalik Buterin noted that the test networkEthereum 2.0 is already operational, and the first stages of implementation began a week ago. According to him, several teams are involved in the development of scalability initiatives that can be implemented shortly after the successful launch of PoS.

These include, for example, sharding, allowingbreak a single network into many subnets, increasing the speed of verification. In addition, one of the developed solutions for scaling the second level is Optimistic Rollup, "in theory capable of processing more than 1,000 transactions per second" even in the existing version of Ethereum, Buterin added.

Co-founder and former CTOEthereum Gavin Wood at the same event criticized his former colleagues for the unsuccessful, in his opinion, governance structure, which impedes the interests of community members.

Last week, Ethereum 2.0 client developer Ben Edgington said he was “80-90% sure” of the new network’s ability to launch in the third quarter.

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