Ethereum 2.0 is scheduled to launch January 3, 2020

The new (ETH) Ethereum 2.0, which will support the PoS algorithm, will be launched on January 3 in 2020 year. Ethereum Zero Phase 2.0 is one of the most awaited ETH network updates since its inception.

Justin DRAKE, a researcher at Ethereum 2.0, explained that the date was chosen because the genesis of a bitcoin block was launched on the same day. An important milestone in development is the launch of a deposit contract that will be ahead of the genesis block and will allow validators to make deposits (the Ethereum team expects at least 2 million ETH). A deposit ceremony should be held at Devcon in Japan, this will help investors get only one deposit address to avoid fraud.

The Ethereum network wants to switch to the Proof-of-Stake algorithm after working with the Proof-of-Work (PoW) algorithm. The goal is to make the network more scalable and efficient to use. There is still no clear idea of ​​what will happen with ETH 1.0. Drake noted:

“Internal integration should be seen as a cheaper medium-term alternative. For example, a two-way bridge between Eth1 and Eth2 can be built using light clients.”

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Ethereum is the second largest cryptocurrency capitalization in the market, its market capitalization is 29.07 billion dollars.

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