Testnet in June?
Ethereum sympathisers have been waiting for months for the launch of the long-awaited “Ethereum 2.0”. Among other things, the change from Proof of Work to Proof of Stake is intended to solve the problem of scalability. Now statements of a developer make hopes for a quick testnet launch. Meanwhile, ETH is defending its course above the important 200 USD mark. We take a look at the most important news about the Smart Contract-Coin.
Ethereum 2.0 developer Afri Schoeden recently attracted attention with the following statement: “First attempt at testnet failed due to issue with timestamps around genesis….Given the current stability, will start working on coordinating a multiclient testnet for v0.12, with 16k genesis validators, and maybe 3 different clients at genesis. Could do dry-run deposit contract ceremony. Target June for this, potentially to allow clients to update to v0.12.” The bulletin gives hope for a testnet launch in June. After problems with the first “release candidate”, the finished update could be launched soon.
Signs are condensing
In recent months, there has been repeated speculation about the launch of “Ethereum 2.0”. ETH 2.0 developer Justin Drake recently commented in a Reddit AMA (Ask me anything) on the schedule of ETH 2.0 as follows “I am sure that we will start in 2020”. For years, supporters have been waiting for the change from Proof of Work to Proof of Stake. However, the launch has been postponed several times in the past. Drake continued: “Phase 0 will certainly start in 2020. The audits are over and the test networks are getting stronger every week. I don’t see any reality where Phase 0 won’t start in 2020”. “It’s quite possible that the launch will fall on the fifth anniversary, June 30, 2020.
Buterin’s great vision
With Ethereum 2.0, Vitalik Buterin’s team could open up a new way for the crypto community. The long-awaited change from Proof of Work to Proof of Stake is a major project that should improve scalability in the long term. As a result, between 100000 and 2 million ETH are to be spent annually. The change to the PoS algorithm is thus aimed at reducing emissions. After the stop of the telegram token, the launch will move into the focus of investors.
At the time of writing, Ethereum has a price of USD 213.35 and a market cap of USD 23.7 billion. If the No.1 crypto currency continues to perform strongly, the bulls could attack the resistance at USD 226 in the near future. On the downside, the important $200 line forms the new support line. Due to the high Bitcoin dominance (approx. 67%) the old coins are tied to the Bitcoin. Independent price breakouts have been considered absolute rarities for weeks.