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Ethereum Proof of Stake Phase 0 will begin this summer

ethereum - Phase 0 of Ethereum's Proof of Stake will begin this summer

At the moment, there is no precise date, but according to the co-founder of Ethereum, phase zero for the new Proof of Stake on Ethereum. 

Second as revealed by Vitalik Buterin in a recently released interview, the zero phase for the project of the new Ethereum 2.0 platform is almost ready to start and that this could be launched during the summer of 2020.

During the interview, Buterin said: we expect phase zero to start at some point in the summer. We are very excited about this, because it will be possible to make Proof of Stake real. 

For this reason, it is thought that the platform upgrade to Ethereum 2.0 and the launch of the new one Proof of Stake can start from this year. Although there is still no official date.

Buterin has currently limited himself to revealing that phase zero is ready to be launched and this concerns the Beacon Chain, a parallel and separate chain, but connected to the one based on the Proof of Work thanks to a specific type of smart contract.

The Beacon Chain is destined to become an Ethereum 2.0 system chain, the fact that it could be ready for the summer is a positive sign, means that the PoS project is at an advanced stage of development.

The co-founder of Ethereum revealed that significant progress has been made over the past few months regarding network scaling by stating that: the team is extraordinary, that it is not simply scaling the new payment system, as previous solutions have already done. But they are scaling what equates to Ethereum's virtual machine.

The zero phase of Ethereum 2.0 could improve the scalability of the network and according to the other developers it would be towards the end. Also, it introduces Ethereum's 2.0 platform which will be a new asset that stakers can use on the Beacon Chain to validate the various blocks.

These ETH2 will be made and then given as a prize to the Beacon Chain stakers, but they can also be obtained through a token swap ETH, which will take the name of ETH1, through a special smart contract. In this way the ETH1 will be deposited in the smart contract, in fact they will be burned and subsequently replaced with the new ETH2, which however in phase zero they cannot be transferred or withdrawn yet. 

After phase 0, phase 1 of the Shard chains and phase 2 of the State Excution. There are still no certain dates for these further two phases.

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Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

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