Ethereum 2.0 is presently on point this year, according to the latest report released by Danny Ryan, the lead coordinator for the Ethereum 2.0 project.
In a Youtube video showing Ethereum Foundation’s official broadcast of the Zinken launch, Ryan shared his insights as to whether ETH 2.0’s launch is on schedule for this year.
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“That’s my impression. This is an ongoing dialogue with client teams, and we need to take a second to look at this test net, but my understanding is that this will trigger the next series of things. There are always blockers that might show up. We need to do this responsibly.
“Us coming up with a launch date – it’s not me, it’s not [Ethereum co-founder Vitalik Buterin], [rather] it’s this synthesis of everything that’s going on, conversations with engineering teams, and doing the best we can,” Ryan stated.
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Backstory
Nairametrics earlier broke the news on Ethereum’s co-founder, Vitalik Buterin, providing updates on the prevailing framework for Ethereum 2.0, detailing plans to optimize the scalability of the world’s second most valuable crypto by market value.
Buterin said;
“The eth2 roadmap offers scalability, and the earlier phases of Ethereum 2.0 are approaching quickly, but base-layer scalability for applications is only coming as the last major phase of Ethereum 2.0, which is still years away.
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“In a further twist of irony, Ethereum 2.0 usability as a data availability layer for rollups comes in phase 1, long before Ethereum 2.0 becomes usable for ‘traditional’ layer-1 applications.
“These facts put together lead to a particular conclusion, the Ethereum ecosystem is likely to be all-in on rollups (plus some plasma and channels), as a scaling strategy for the near and mid-term future.”
Vitalik Buterin said that in addition to these short-term concerns, a rollup-centric roadmap could also imply a re-envisioning of Ethereum 2.0 long-term future as a single high-security execution shard that everyone processes, plus a scalable data availability layer.
To see why this is the case, consider the following:
- Today, Ethereum has ~15 TPS.
- If everyone moves to rollups, we will soon have ~3000 TPS.
- Once phase 1 comes along, and rollups move to eth2 sharded chains for their data storage, we go up to a theoretical max of ~100000 TPS.
- Eventually, phase 2 will come along, bringing eth2 sharded chains with native computations, which give us… ~1000-5000 TPS.