The Ethereum community is long waiting for the new big developments this year. The community is promised to have many breakthroughs this year but the main question is when. ETH 2.0 has fired so much hype in the crypto market. The update will focus on enhancing the scalability and will more focus on privacy. This new thing will coordinate all the transactions on the 2.0 network. The network update is going to hit us all in the first quarter of this year.
Currently, EIP 2537 and EIP 2315 proposals are been conducted by Yolo for disseminating and by using EVM to add simple subroutines. EIP 2537 is a sort of open QA where an introduction kind of work is pinned regarding ETH 2.0, the new network.
Filling the Bridge between 2.0 and 1.x
The new ETH is about to roll out in July following a very tentative schedule. Well, the 2.0 will be released in bits and pieces following a major release. The major release will be more focused on implementing the BLS standards in the 2.0 specs. In short, the ETH launch is spread into 4 mini phase’s names as Phase 0, Phase 1, Phase 1.f, and Finally Phase 2.
In an interview when asked, the co-founder of the Ethereum network Buterin stated that the 2.0 would captivate users with scaling, privacy features following a proof-of0stake system. He said that the will allow users to do private transactions without showing the context of those activities. He went on saying that:
If we have that, then an eth2-in-eth1 client is actually not that hard, which opens the door to applications that use eth2 as an availability engine (ie. things like Plasma but waaay more powerful),
EHTH2 is the Future
ETH2 is going to bless the next generation with a more decentralized consensus, a highly secure and saleable environment.
The project is going to materialize the crypto market in so many positive ways that anyone can imagine. By saying this, Cloudflare’s Sullivan notated that:
It’s a really fascinating curve of how things happen – from the mathematicians and the cryptographers writing about it in academic papers and then people in the engineering world started implementing it and testing it and then it’s getting introduced into projects and protocols and then being part of society. And then you end up in this position where there’s so many different options that it’s hard to know exactly which one to pick and why.
The community is expecting immense progress hoping that the core update is just around the corner.