The Ethereum update is approaching its current version towards the Ethereum 2.0 update.

We devoted several previous articles on Arab Bitcoin to talk about the upcoming Ethereum 2.0 update and the updates it will bring.

Recently, through a blog post summarizing the recent and long-running updates in preparation for the Ethereum 2.0 update, Ethereum 2.0 developer Raoul Jordan stated:

In the case of several security checks and polishing of the user experience, November is still a good launch date in our view.

Ethereum 2.0, the major upgrade to Ethereum, cannot come soon enough to solve the current network’s slow and overburdened problems, as the current Ethereum blockchain’s capabilities are processing 14 transactions per second and the network usage rate is up to 97%.

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Adding more pressure to the Ethereum blockchain is the rise of DeFi, with investors pumping into it around $8 billion, almost all of it in the past three months.

Ethereum has expanded to its limits and the network is already very expensive to process micro-transactions.

However, Ethereum 2.0 promises to solve all that.

Vitalik Buterin, co-founder of Ethereum, says that the new version of the blockchain will eventually increase transaction speeds to 100,000 per second.

It also moves the blockchain from a proof of work mechanism to a proof of stakes.

But Ethereum 2.0, which has been in the works for years, suffers from several delays.

Justin Drake, a researcher at the Ethereum Foundation, said earlier in July that the timeline for November was ambitious.

He told Drake that a January 2021 launch is more likely, although Buterin and other Ethereum researchers have disputed that.

What is left in front of the Ethereum 2.0 update?

Currently, Ethereum 2.0 is in the middle of the Medalla testnet, a public network created by the Ethereum Foundation that acts as a sandbox before the launch of the mainnet.

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Having recently fixed it after crashing in August, the beta (testnet) version appears to be running smoothly.

The developer team has announced that it will use the security firm (Trail of Bits) to conduct the second security audit.

The developers of Ethereum used Quantstamp in the first review.

Jordan previously stated:

For the sake of improvement, we sometimes differ from specifications in certain places and this audit will help determine the soundness of our approach.

Getting into the mainnet, and performing two full code audits of our eth2 client is critical to the integrity of our endeavours and to also be able to identify ways to improve our business using best practices.

Other improvements to the roadmap include improving peer-to-peer routing to ensure that Ethereum nodes function well, fixing bugs that prevent the network from being interoperable with other blockchains, and integrating ETH 2.0 APIs into the Prysm client.

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For the sake of transparency, the team has published a checklist of tasks that need to be completed for the launch of the Ethereum 2.0 mainnet.

The list includes the following tasks:

• Second Security Audit
• Implementation of the eth2.0-apis standard in Prysm for client interoperability
• Closing exits in Prysm
• Comprehensive web user interface for Prysm
• Fuzz test and solve important errors before moving to the main network
• Slasher improvements
• Slash Protection Format for Key Transfer between Ethereum 2.0 Clients
• Self-sync optimization

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