Ethereum to Roll Out Latest 2.0 Testnet On June 29; Q2 Mainnet Launch Seems Ambitious

By June 26, 2020Ethereum
Click here to view original web page at bitcoinexchangeguide.com
Ethereum to Roll Out Latest 2.0 Testnet On June 29; Q2 Mainnet Launch Seems Ambitious

Ethereum will release its latest 2.0 testnet iteration on June 29, as per a recent call by the developers on this project. Dubbed ‘Altona,' it will be the first ETH 2.0 testnet to integrate the 0.12 specification update. With hopes of a functional public mainnet as early as July, it seems the Ethereum community might have to wait longer for the scaling protocol.

The developers, however, noted that Altona testnet is ready to, launch and was only pushed past the weekend to ensure all contributors are on hand to fix any issues. Consequently, the first genesis block of this testnet will be generated after the scheduled Monday launch, although the minimum deposit required to kickoff has already been achieved.

Afri Schoedon, one of the ETH 2.0 developers, confirmed that a ‘technical genesis event' occurred but was decayed after a consensus to push it over to next week, “a situation where […] we technically had a genesis event,”

Ethereum's Move to Proof-of-Stake (PoS) Consensus

The Vitalik led project has long operated with a Proof-of-Work (PoW) mining algorithm, an infrastructure that has proven to be quite problematic in scaling network activity. It is, therefore, not surprising that Ethereum opted for a PoS ecosystem instead. This journey has been rocky for Ethereum, given the finer points that need modified before a final release of the public mainnet.

Notably, Altona, which is the latest testnet release, is still considered as a ‘devnet' by ETH 2.0 developers. Before this, the team had launched Topaz testnet back in April and went on to record over 18,000 validators at the generation of its genesis block. Nonetheless, this testnet had its shortcomings as it did not feature a ‘multi-client' infrastructure.

As we approach July, it has become more evident that ETH 2.0 will miss the initial target release date despite Vitalik's confidence. That said, Altona's success might also define the future of Ethereum 2.0 mainnet; its developers are optimistic that the underlying fundamentals will qualify for a public testnet launch.

Leave a Reply