Staking Ethereum 2.0 will be launched in the third quarter of 2020

The staking mechanism in the Ethereum 2.0 Beacon network with a probability of 80-90% will be activated in July of this year, saidBen Edgington, developer of the ETH 2.0 Teku client.

“Beacon is the beginning of the journey. This is the self-sustaining Proof-of-Stake chain. It can be activated in a few weeks or months. But I’m 80-90% sure that they will launch it by the third quarter, ”— Edgington said during a panel discussion at the Ethereal Virtual Summit on Friday.

New test version of the Ethereum 2 update.0 Beacon, which is based on the Proof-of-Stake algorithm, was launched on April 18 and in a few days attracted almost 20 thousand validators. To date, according to Etherscan, their number is approaching 29 thousand.

The Beacon Chain is the main element of the zero phase of Ethereum 2.0. In it, users will be able to stake their assets to ensure system security and generate passive income.

Developer will villanueva meanwhiletalked about the next steps in launching Ethereum 2.0. Phase 1 is the implementation of sharding technology and the creation of 64 shards, each of which will have a bandwidth of 500 Kb. For comparison, in the existing Ethereum network, this figure is about 25 Kb.

Phase 1.5 will be the merger of ETH 1.0 with ETH 2.0. The current Ethereum chain will be one of 64 shards in the new system. During Phase 2, various ETH 2.0 applications and circuits will begin to communicate with each other. Villanueva noted that it can also be third-party blockchains, for example, Bitcoin or Libra.

Ben Edgington emphasized that from that moment on, real difficulties began in ensuring the operability of ETH 2.0.

“Compatibility is much more complex than single-client test networks. Multi-client test networks reveal all sorts of minor inconsistencies that interfere with performance. ”- he said.

Recall, according to a survey by Ethereum Studios ConsenSys, two-thirds of participants in the ecosystem of the second-largest cryptocurrency capitalization plan to take advantage of staking after the transition to ETH 2.0.