Ethereum 2.0 is the next upgraded version of the current Ethereum.

There is a lot of confusion about the actual release date of Ethereum 2.0 that the cryptocurrency community has been waiting for.

According The developer of Ethereum “Justin Drake”, and through the “Ask Me Anything” session, provided a set of answers on the Reddit platform, including the date of the start of the Ethereum 2.0 update, which was told that it could be launched in January 2021, which means that it is another delay if It really proved to be added to the previous set of setbacks around this long-awaited date.

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Are we facing another delay?

Vitalik Buterin, one of the founders of Ethereum, stated that the date is not so fast, in response to Drake, writing in his comment that Ethereum 2.0 may happen much sooner.

Ethereum 2.0 is the next version of the Ethereum blockchain, transforming the network from a Proof of Work (mining) system to a Proof of Stake mechanism, where users are rewarded for keeping their cryptocurrency in dedicated wallets.

He told Drake that in order to launch Ethereum 2.0 it would need to test the network in general and set up a bug bounty program that would run for two to three months.

Drake said in this regard:

All of the above cannot happen in the third quarter of 2020.

I am now inclined to say that my earliest working date will be something like January 3, 2021 (the twelfth anniversary of the start of Bitcoin).

Buterin disagreed with Drake, stating:

Personally, I do not fully agree with that, and I would prefer to launch the initial phase before January 2021 regardless of the level of readiness.

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He said referring to the launch of the Altona Network, a test network for Ethereum 2.0

I was expecting the four-month clock to start ticking at the beginning of July.

Altona testnet launched! 🎉
And I’m validating 4 different clients, each 2 nodes.#ethereum # eth2

Lighthouse Tweet embed Zipper Tweet embed
prism Tweet embed Sea Tweet embed

And soon, Lodestar too Tweet embed 👀

Testnet stats: pic.twitter.com/hbtX3Umd9N

– protolambda.eth (protolambda) June 29, 2020

Danny Ryan, a researcher at the Ethereum Foundation, believes that Ethereum 2.0 will be launched this year.

While Drake responded about the upcoming dates, saying:

I notice that others are several weeks more optimistic than me.

Why does Buterin think Ethereum 2.0 is still on track to launch this year?

He told Buterin that the first stage of Ethereum 2.0 is in some ways simpler than Ethereum 1.0 and in some ways more complex.

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According to Buterin, the deployment of the Proof of Stake network, and the abandonment of the current Proof of Work system, are among the complications faced by the upcoming update, but it is not difficult to implement, and he stated in this regard:

I tend to say that the second stage of Ethereum is a little lighter on the network.

Also, Ethereum 2.0 carries fewer operational risks.

Overall, I don’t see any reason to take any more time to launch Ethereum 2.0 in its initial phase.

While Drake disagreed with Buterin about this, he stated:

The unfortunate fact is that we haven’t gotten to the update yet from a security point of view, as there is no bounty bug program, no trigger network.

Read also:

An overview of Ethereum 2.0 and its most important features

What is the new generation of Ethereum 2.0 network?