Blockchain News, Ethereum, Top Stories

Ethereum [ETH] To Switch From PoW To PoS On 3rd Jan. 2020.

In line with recent ‘bi-weekly call‘ of Ethereum’s core developers meet, the primary 1st stage of the Ethereum [ETH] network’s transition to Ethereum 2.0 is anticipated to take place later on 3rd January, 2020.

Within the call, renowned Ethereum researcher named ‘Justin Drake’ added that the dev team is presently working on code specifications for phase zero, confirming that the codes are still ‘expected‘ to be revealed on 30th June.

Phase zero is the name of the primary 1st transition stage of the Ethereum [ETH] network from a PoW [Proof-of-Work] to a PoS [Proof-of-Stake] consensus algorithm, that might pass block validation options from miners to special network validators.

As ‘stated‘ by Drake within the recent call, phase zero’s anticipated launch is expected on January 3, the day when the 1st block of the ‘Bitcoin‘ blockchain was ‘created‘ 10 years earlier. The researcher added:

“We still have quite bit of time before the end of this year, so i think looking at a target genesis date towards the end of this year might be realistic.”

Drake additionally considered the associated problems of deposit contracts, ‘suggesting‘ to launch those prior to the targeted genesis block to permit time for validators to form deposits. The developer aforesaid that the deposit contract ceremony will be held at Devcon, a Ethereum developers ‘conference‘ in Oct. In line with Drake, such timings will let developers to deliberate on the address of the deposit contract and avoid ‘scam‘ deposit contracts.

Recently ‘Diar‘ published its analysis report stating that the Ethereum [ETH] volumes on DApps ‘Decentralized applications’ have registered an all time new highs.

Leave a Comment

Your email address will not be published. Required fields are marked *