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Ethereum will start testing Proof of Stake in March

11:42 01 February /2019

The most expected update of Ethereum may be closer than the community expected. Developer Paul Hauner said that the Sigma Prime team is already working on Ethereum 2.0, in which the Proof of Stake algorithm will be implemented. His test will be launched in a month, and the release will take place before the end of the year.

At the Ethereum conference, which took place last October in Prague, Vitalik Buterin said that the end of the development of Ethereum 2.0 and the transition to testing is scheduled for the 1st quarter of 2019. Since then, there have been several unsuccessful attempts to launch Constantinople and many have thought that 2.0 will be postponed. But the developers have confirmed that everything is going according to plan.

Paul Honer said that he didn’t see any problems to start testing a new network in March of the current year:

All the teams responsible for the upgrade are ready for the March launch, and I don’t see any obstacles due to which we can’t start this process.

Another ETH developer Stan Drozd told:

We are working on Beacon Chain specifications, we constantly have to change them. New parameters are made daily, which makes it difficult to determine exact dates.

Vitalik Buterin reported that the choice of forks rules should be implemented in the code, but in this direction, the development is approaching the final stage.

In Ethereum Proof of Stake will appear this year

The launch of the test network will be only the first step towards the implementation of the Proof of Stake algorithm at ETH. Further, refinement and audit of the program code will be required, and only after that, we can expect the launch. According to the developers, if everything goes well, the release of the Ethereum 2.0 network will take place before the end of this year.

After the introduction of the Proof of Stake miners reward will be reduced to 0.86 ETH per unit. And this will take place after the launch of Constantinople which will reduce it to 2 ETH.

Ethereum will soon face a competitor Polkadot project, which builds a network on the basis of Ethereum, but will not have problems with scaling. At the same time, at the development stage, it is planned to implement a sharding, which will appear in ETH only a few years later. By that time, Polkadot plans to launch a “quadratic” sharding, which is why Vitalik Buterin’s project will lag even further.


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