Ethereum co-founder Vitalik Buterin, speaking at the 2020 Consensus: Distributed conference, has confirmed that Ethereum 2.0 (or ETH 2.0) is on schedule to meet its "Phase 0" pre-launch requirement in July 2020.
This latest deadline for the launch of ETH 2.0 was initially flagged in a reddit comment by Ethereum Foundation researcher Justin Drake, who said that the Ethereum’s team of developers was looking forward to releasing ETH 2.0 phase 0 mainnet before 30th July 2020, to coincide with the fifth anniversary of the launch of ETH 1.0.
Buterin also used the conference to discuss recent progress on the first ETH 2.0 multi-client testnet that was recently launched, as well as some of the scaling solutions which will go into practical testing once ETH 2.0 is launched. Buterin specifically referred to the demo shown by Optimism with Aussie company Synthetix, which according to Buterin:
can theoretically scale to over 1,000 transactions per second, even on the existing Ethereum chain
While the launch of the initial frameworks for ETH 2.0 is a big deal for the blockchain industry, phase 0 of the launch is intended to operate as little more than a test network. The intent is that initially, ETH 2.0 will be operated as parallel system (rather than a replacement) to ETH 1.0, to enable the much-touted new proof of stake consensus system to be tested. Most of the economic activity and smart contracts will remain on the original Ethereum network.
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