Cardano founder Charles Hoskinson shares his predictions about the launch date of the highly anticipated Ethereum 2.0. When it will be released is a matter of debate as many continue to give different dates for when ETH 2.0 will be released.
Cardano founder says Ethereum 2.0 will launch in 2024
Many crypto experts, including the team behind the project, have predicted when Ethereum 2.0 will be released. One of the most recent guesses came from Charles Hoskinson. Talking about ETH 2.0, the Blockchain expert stated that the upgraded version of Ethereum will not be released before 2023. Meanwhile, many are waiting for Ethereum 2.0 to launch in August this year. But the date will not be that close, according to Hoskinson.
According to Hoskinson, Ethereum 2.0 will likely be released in 2023. Additionally, he adds that the date may be delayed to 2024 depending on the progress made by the developers. The Cardano founder said that Ethereum 1.5, which he calls Polkadot, a Layer-2 scaling solution on the Ethereum network, is already live.
Ethereum 2.0 upgrade
Ethereum 2.0 will migrate the leading altcoin from the PoW algorithm to the PoS consensus mechanism. It’s worth noting that this is a long-awaited upgrade. For this, the developers split the migration into 3 elements, the upcoming Ethereum 2.0, Beacon Chain, Merge and also sharing chains.
Developer teams work on all chains in parallel. Their completion will determine when Ethereum 2.0 will be officially released. The development of Ethereum 2.0 followed widespread complaints about the high energy consumption of the existing PoW mechanism. This has resulted in increased gas fees. According to the Ethereum team, once ETH 2.0 is released, the network will become more scalable, sustainable and secure. Thus, it will encourage the enthusiasts of the project to be eager for the launch.
ETH Ropsten tesnet
Beacon chain was launched last year, while enthusiasts of the project are waiting for the second phase of the upgrade, the merge (merge) to materialize in earnest. Currently the development team is working around the clock to ensure that the merge phase starts smoothly. Intense work is being done to achieve this goal.
The first rehearsal for Merge was recently completed on the Ropsten testnet. Testnet successfully performed the consolidation between existing PoW chain and Beacon PoS chains. This phase is a similar move as ETH 2.0 will migrate to the mainnet in the coming months.
Cardano founder Vasil focuses on hard fork
Meanwhile, Hoskinson also drew attention to the upcoming Vasil ascension. The Cardano team is working relentlessly for the smooth release of the Vasil hard fork this month. As explained by Hoskinson, the Vasil hard fork has reached its final stages. The Cardano team is planning the letter fork for June 29.
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