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Will Ethereum 2.0 Be Ready by November?

This is definitely a question on the forefront of everyone’s minds: When will Ethereum 2.0 be ready? The crypto community has been waiting in anticipation for each development that would bring us closer to ETH2’s beacon chain launch in Phase 0. Updates on this have been rather sparse since ETH2’s final testnet Medalla went live on August 4, a little over a month ago. It is the Phase 0 launch’s last preceding testnet and features functions that mirror that of the Phase 0 mainnet launch’s most closely, including staking, validators and more. 

Now, it seems that we are finally on the road to the mainnet launch, armed with a proper plan complete with milestones which has been made available to the public by Prysmatic Labs, one of the main clients running the Medalla testnet. Prysmatic Labs provided an update on September 12, detailing further adjustments and fixes which need to be made.

“Out of these, only a few are features, which means that we can likely perform a feature freeze by mid October, allowing us to only work on security improvements and UX before going live. If all goes well, November is still looking good for a launch from our perspective,” Raoul Jordan, an ETH2 developer from Prysmatic Labs, shared in the post.

In mid August, the Medalla testnet crashed and validators found themselves losing up to 25% of their holdings and validator participation on the network dropped straight from close to 80% to 0% in a matter of minutes. Developers have since found a fix of the issue, and no further major challenges have been highlighted since then.

However, skeptics are still aplenty as they doubt that the beacon chain and staking mechanism can be implemented smoothly in time. More than that, the improvements to Ethereum’s long-standing challenge of scalability has no easy solutions, and some in the crypto community are still on the fence when it comes to the successful launch of ETH2 by November this year.

You may also want to read: Will the DeFi Explosion Translate to Higher Ethereum Prices?

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