Vitalik Buterin: Development on Track But ETH 2.0 May Not Go Live in July
Ethereum co-founder, Vitalik Buterin has clarified his earlier remarks regarding the expected launch date of ETH 2.0. Buterin has now made it clear that the much-talked-about transition may not launch in July as he had hinted earlier at this year’s Consensus conference, according to reports on May 12, 2020.
ETH 2.0 July Launch Date Unrealistic
Ethereum, the distributed ledger technology (DLT) network powering Ether (ETH), the world’s second-largest cryptocurrency after Bitcoin (BTC), has been working round the clock to transition its smart contracts blockchain from proof-of-work (PoW) to the proof-of-stake (PoS) consensus algorithm for over a year now and hodlers of the altcoin may have to wait much longer before the ETH 2.0 dream becomes reality.
Per sources close to the matter, Vitalik Buterin, who was present at this year’s Consensus: Distributed conference organized by Coindesk, initially confirmed that ETH 2.0 would go live in July this year, as declared by the project’s lead researcher, Justin Drake earlier in February.
However, after Buterin’s remark was seriously countered on Twitter by Afri Schoedon, the ETH 2.0 testnet coordinator, the 26-year-old co-founder of Ethereum has set the record straight, making it clear that his earlier confirmation was in error.
“The final spec is not implemented in any client and we haven’t launched a coordinated testnet yet. Going on stages or panels and putting out dates is not helpful at all. I don’t think Vitalik said July. But I didn’t see the talk.”
Buterin Clears the Air
In response to Afri’s tweet, Buterin posted multiple tweets stating that he must have misheard the question and never meant to confirm the ETH 2.0 July launch date.
“I re-listened to the interview. The question indeed contained ‘July,’ I don’t recall hearing ‘July’ so it sounds like it’s my fault for mishearing. Apologies for that. My actual stance is that EH2.0 is on track, as there aren’t any unexpected bumps in the development. Testnets are coming along well, but I defer to the client developers on timelines and if they are now saying Q3 more broadly, then I believe them,” Buterin reportedly told Coindesk.
In addition to migrating to the PoS algorithm, ETH 2.0 is expected to usher in a host of improvements to the Ethereum network, including staking, scalability, and more.
In April 2020, BTCManager informed that Prysmatic Labs, one of the ETH2.0 development teams, had successfully launched the Topaz Testnet.
At press time, the price of Ether (ETH) sits at $190.31, with a market cap of $21.11 billion, as seen on CoinMarketCap.