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Ethereum 2.0 is currently on point this year, according to the latest report released by Danny Ryan, the lead coordinator of the Ethereum 2.0 project.
In a Youtube video showing the official broadcast of the Ethereum Foundation’s Zinken launch, Ryan shared his insights that the launch of ETH 2.0 is slated for this year.
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“This is my impression. This is an ongoing dialogue with customer teams, and we need to take a second to look at this test network, but my understanding is that this will trigger the next set of things. There are always blockers that may appear. We have to do it responsibly.
“We’re coming up with a launch date – it’s not me, it’s not [Ethereum co-founder Vitalik Buterin], [rather] is this synthesis of everything that is happening, conversations with the engineering teams and doing our best “, Ryan stated.
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Backstory
Nairametrics previously broke the news about Ethereum co-founder Vitalik Buterin, providing updates on the prevailing framework for Ethereum 2.0, specifying plans to optimize the scalability of the world’s second most valuable crypto based on market value.
Buterin said;
“The eth2 roadmap offers scalability and the early stages of Ethereum 2.0 are fast approaching, but entry-level scalability for applications is only coming as the last big stage of Ethereum 2.0, which is still years away.
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“In a further ironic twist, Ethereum 2.0’s usability as a data availability layer for rollups comes in Phase 1, long before Ethereum 2.0 becomes usable for ‘traditional’ Tier 1 applications.
“These facts put together lead to a particular conclusion, the Ethereum ecosystem is likely to be all-in on rollups (plus some plasma and channels), as a downsizing strategy for the near and medium term future.”
Vitalik Buterin said that in addition to these short-term concerns, a rollup-focused roadmap could also involve a rethinking of Ethereum 2.0’s long-term future as a single snippet of high-security execution that everyone processes, as well as a level of availability scalable data.
To understand why this is the case, consider the following:
- Today, Ethereum has ~ 15 TPS.
- If everyone moves on to rollups, we’ll soon have ~ 3000 TPS.
- Once phase 1 has arrived and the rollups move on to the eth2 sharded chains for their data storage, we arrive at a theoretical maximum of ~ 100000 TPS.
- Eventually, phase 2 will come, which will bring fragmented eth2 chains with native calculations, which gives us … ~ 1000-5000 TPS.
