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Looking At The Upcoming Ethereum Proof Of Stake Upgrade

Scott CunninghamJul 1, 2019, 9:54:52 PM

If you’ve tried utilizing Ethereum for anything lately you might notice that you cannot send transactions.

What’s happening is that it’s in a “spec freeze” while the Ethereum 2.0 developers are making the final changes for the launch of phase 0 which will bring radical changes to the Ethereum blockchain including switching to a proof of stake network from their current hybrid with proof of work.

The freeze was to “see the emergence of long-lived cross-client testnets by halting master releases,” which we will come to fruition when they launch their full testnet by Devcom in October. The full launch is estimated to be scheduled for January 3rd, 2020.

The new network will be proof of stake hybrid and it will implement technology like storage and data sharding as they make the transition to a full proof of stake model.

You can go to their Github here: https://github.com/ethereum/eth2.0-specs/projects/1 and see that they have noted the June 30 freeze and you can see where they are in the Phase 0 state transition to know when they will be done. By the time this is posted, it may be complete.

You can see everything about Ethereum’s blockchain in real time here: https://amberdata.io/dashboards/infrastructure

If you want to learn more about Ethereum in general checkout their website: https://ethereum.org/

2020 will be a big year with Bitcoin halving and Ethereum 2.0 going live. So, prepare yourself accordingly!