Kosala Hemachandra, the founder of MyEtherWallet (MEW), told Cointelegraph The full version of ETH 2.0 is still years away.
The first phase of the Ethereum 2.0 update was originally planned for January 2020, but was later postponed to coincide with the fifth anniversary of this week. Since then it has been delayed again; The launch is expected in November or early 2021.
Even if Hemachandra believes that phase 0 will start sometime this yearnotes that the full version of ETH 2.0 will not be operational before 2022:
“I think the full reality of ETH 2.0 is at least a few years away.”
The string “beacon” is only phase 0
ETH 2.0, also called Serenity, consists of three phases: Phase 0: Beacon chain, Phase 1: Fragment chains and Phase 2: Execution of the fragment chain. Hemachandra highlighted:
“Today everyone calls the beacon chain (the first step towards ETH 2.0)“ ETH 2.0 ”. I am very confident that the beacon chain will be launched on the Mainnet this year. It is now in the final test network and is now open for public error rewards. “
Hemachandra added that a cautious approach to publishing ETH 2.0 is a sensible strategy. “”Software updates take time, especially when it comes to user funds and an immutable blockchain“said.
However, he also said that it would be worth the wait. “As we saw in previous Ethereum iterations, ETH 2.0 will change the definition of blockchain technology again and create a secure and sustainable system that can compete with centralized scaling solutions“said.
After five years, the game changes constantly
Hemachandra was there when Ethereum was bornand looking back five years later he said that his “growth had been exponential“”
“In a way, it redefined what blockchain technology can do. Today, the Ethereum community has a lot of passionate developers, DApps that are friendly to new users, and a lot of well-documented concepts.
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