Vitalik Buterin: Ethereum 2.0’s PoS Can Reduce the Chain’s Energy Consumption By Over 10,000x
AI Trading

The co-founder of Ethereum (ETH), Vitalik Buterin, has recently stated that the work on Eth1 and Eth2 merger is already in progress.

Over the past three months, there has been notable progress on the launch of Ethereum 2.0, an upgrade from Proof-of-Work (PoW) protocol that involves miners, to Proof of Stake (PoS) protocol that needs users to stake a minimum of 32 ETH to operate a validating node.

Progress Update On eth1 and eth2 Merger

Vitalik Buterin recently reacted to a blog post shared by Danny Ryan, the coordinator of Ethereum 2.0, about the progress on the eth1 + eth2 merger.

In the blog post, Danny Ryan stated that the current future of Ethereum (ETH) is for the current chain to undergo integration into the new eth2 consensus as a shard.

AI Trading

The blog post reads in part:

“This is the marriage of eth2 clients (consensus) with eth1 clients (highly optimized user layer) into a single system.”

Ryan further stated that co-developers, Mikhail, and Guillaume, have been busy making the concepts a reality since the blog post was published.

Ryan also pointed out that Guillaume’s Catalyst – a version of geth which defers its consensus to RPC calls (i.e. an eth2 client) – is built and ready to go; and Mikhail’s Phase 1 implementation is running fully sharded eth2 simulations with select shards deferring block production and validity calls to a local, stubbed eth1-engine.”

Vitalik Buterin: Work On "Eth1 + Eth2 Merger” Is Already HappeningMeanwhile, Danny Ryan had earlier announced the actual date of the launch of the final public testnet of ETH 2.0. This, he shared on the testnet’s discussion board on Discord. According to the developer, the launch will take place on 4th August 2020.

Ryan wrote:

“After discussions with client teams, the next multi-client testnet (mainnet config including min validator numbers) will have a min genesis time of August 4th.”

He further assured that details of the development as it unfolds will be communicated.

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.