Monday, May 10, 2021

Quantstamp CEO: Ethereum 2.0 Is Almost Ready for Launch

Quantstamp, a smart contract auditing company has pointed out that Ethereum 2.0 is on track to go live, and that the eventual launch of Phase 0 would take place soonest

This announcement came after Quantstamp completed the audit of Teku, the ETH 2.0 client developed by ConsenSys.

According to the CEO of Quantstamp, Richard Ma, “Ethereum 2.0 is on track to deliver Phase 0 in the very near future.”

The Ethereum community has been anticipating the launch of Eth 2.0 and it’s much expected to play out before the end of 2020. Back in July, Justin Drake, an Ethereum 2.0 researcher tweeted that “the community wants phase 0 genesis in 2020—not one day late. The goal is set; let’s ship.”

Read Also: Grayscale Ethereum Trust Becomes SEC Reporting Company. How Would ETH Benefit? Details

Ma added that Client teams have spent countless hours coordinating, testing, and working with auditing firms to ensure that the foundation of Ethereum 2.0 is ready for delivery.”

The Teku auditing has to do with enforcing consensus rules and maintaining the codes and controls required for rewards and penalties.

According to Quantstamp, in the course of the auditing, there were several findings that indicate that the codebase was of the highest quality. In the case of arisen issues, the Teku development team has always come with solutions.

One of the issues that were discovered and resolved is related to the unlimited messaging queue, which had possibly made individual nodes vulnerable to DDoS attacks, missing validation logic, and errors that possibly resulted in clients falling out of sync.

Read Also: Vitalik Buterin Sheds Light on What Ethereum 2.0 Will Be Like Once It Launches

About Ethereum 2.0

Ethereum 2.0 is the long-awaited upgrade to the Ethereum network. It is targeted at boosting the scalability and security of the network, via upgrading from proof of work (PoW) to proof of stake (PoS) consensus mechanism.

After a number of testnet launches such as Topaz, Medalla, Spadina, and Zkinken, the eventual launch of Ethereum 2.0 is designed to play out in three phases, starting from phase 0 to 2.

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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