Ethereum 2.0 is Nigh, Serenity Phase 0 is Here

Ethereum 2.0 is Nigh, Serenity Phase 0 is Here 1024 500 Crypto Rand Group
ethereum serenity

That’s it! The kick-off has been launched for Serenity phase 0 of Ethereum 2.0. An Ethereum Improvement Proposal has just been published to “formalize the update and link eth2 to the EIP process”.

Ethereum 2.0: the launch is fast approaching

The long-awaited Serenity update is closer than ever yesterday, Ethereum Foundation developer Danny Ryan released a proposal (EIP) that specifies the details of phase 0.

“EIP for phase 0 of Serenity (eth2): major upgrade of Ethereum’s consensus mechanism from Pow to a sharded PoS” – Source: Github.

As a reminder, Ethereum 2.0 is an update that includes several phases and whose deployment should be completed at least in 2021. It aims to solve the scalability problems that the network is experiencing.

Roadmap of the Serenity update, with some delays to note in the deployment dates of the phases.

Thus, phase 0 represents the launch of the beacon chain. The beacon chain will be the central blockchain of Ethereum 2.0, which will have the mission to synchronize the different shards (sub-networks). Also, it is this phase that will introduce the change of consensus from Proof of Work to Proof of Stake.

Danny Ryan also takes this opportunity to remind that, initially, this blockchain will evolve in parallel with Ethereum 1.0, the current version of Ethereum.

“In phase 0, the PoW chain and existing mechanisms are not affected at all, while a PoS chain – the beacon chain – is built in parallel to serve as a basis for the new consensus. “Danny Ryan

Thereafter, the current Ethereum chain will be incorporated into Ethereum 2.0 as one of its shards.

Last settings with the testnets

Pending the deployment of phase 0, scheduled for the end of the year or early 2021, two testnets are being used to test its specifications.

On the one hand, we have the Medalla testnet, which brings together 52,659 active validators. It aims to test the multi-client aspect of Ethereum 2.0, and its success will determine the launch date of phase 0.

On the other hand, we have Spadina, a testnet that should be launched in the coming weeks and which aims to test the launch of the chain, with the creation of the genesis block and deposit contracts for the validators.

If these two testnets behave as expected and without bugs, Serenity’s phase 0 can be deployed on the mainnet. The publication of this EIP may give a positive indication on the evolution of the testnets.