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- Audit firm Quantstamp completes a Teku customer audit for Ethereum 2.0 and approves its release.
- The price of ETH will benefit from the launch of phase 0. According to expert Adam Cochran, whales are showing signs of FOMO.
Ethereum 2.0 is forthcoming. The launch of the deposit agreement was announced for November 6, according to a to send by analyst Adam Cochran. This first phase will initiate the distribution of the Beacon Chain, the blockchain on which Ethereum will operate when it migrates its Proof-of-Work consensus protocol to Proof-of-Stake.
Ethereum 2.0 client audit
Ethereum developer Ben Edgington has shared through its Twitter account the Quantstamp company completed its Ethereum 2.0 Teku customer verification. According to the results, Ethereum 2.0 is ready to be launched. In addition, the auditing firm indicated that the client base code is “of the highest quality”. Developer Afri Schoedon agrees with Quantstamp’s findings and also believes the update is ready to be released.
Quantstamp verified the consent rules, the reward and penalty mechanism and the maintenance of the code. Previously, Edgington had indicated that everything was ready for the launch of the Beacon Chain. The developer advised users to wait for an official announcement and not to send ETH to random contracts.
According to its website, Quantstamp is a leading blockchain security company. They are the creators of the first security guide book for smart contracts. They checked clients on Ethereum, Hyperledger, Binance Chain, EOS, Polkadot, among others.
On the other hand, Teku is a complete Ethereum 2.0 client designed by ConsenSys to “meet institutional needs and security requirements”. It was built with the Java programming language by the team that also developed the Besu client. Teku’s goal: to bring staking services to the business sector.
However, in Cochran’s publication, the deposit agreement was to be released on October 23. The analyst indicated that the delay in the launch was “last minute”. Apparently, one of the components of the update required further testing. Cochran said:
(…) Last minute delays on the ETH2.0 deposit agreement. Not good. We were expecting a launch today and last night in an interview we found that it was delayed for two weeks, the main reason being a newer and less tested crypto library.
Cochran is one of the experts who expressed the most enthusiasm for the potential positive impact Eth 2.0 will have on the price of ETH. Following the introduction of the deposit agreement, Cochran expects a supply shock to push the price of Ethereum. In this sense, ETH could go through a construction phase which pushed its price back above $ 400:
While I think all signals are pointing to an announcement in the next day or two, it’s possible we won’t see the formal announcement for another week or two at the most. But so far, everyone close to the project says things seem on their way. Not to mention early this morning we saw some YOLO whales buying ETH at market prices, which is usually a sign that something is on the way.
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