Ethereum co-founder: Ethereum 2.0 is coming, but enterprise adoption will still take time
Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: RACHEL WOLFSON, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Cointelegraph Chinese (ID: CointelegraphChina)
, Author: RACHEL WOLFSON, reproduced by Odaily with authorization.
Many members of the blockchain community have been anxiously awaiting the arrival of Ethereum 2.0, a major upgrade to the ethereum blockchain that is expected to roll out in multiple phases. Phase 0 is scheduled to launch this year, the first expected release on the Ethereum 2.0 roadmap.
While the exact launch date is still speculative, Joseph Lubin, co-founder of Ethereum and founder of software company ConsenSys, revealed in a recent interview on Baseline Protocol's YouTube channel that Ethereum 2.0 is indeed coming soon: "Ethereum 2.0 is coming soon." Arriving. We are now in the middle of what we believe to be the final testnet. We have a lot of smooth operations on the testnet with many Ethereum 2.0 clients being developed by different teams.”
Lubin further commented that he is concerned about the mainnet launch of the Ethereum 2.0 beacon chain if the issues on the Ethereum 2.0 “Medalla” testnet are not resolved.
Ethereum 1.0 will never go away
During the interview, Lubin also mentioned that Ethereum 1.0 will exist forever. Because Ethereum 2.0 is just a natural transition from Ethereum 1.0. Ethereum 1.0 will never go away. Ethereum 1.0 is evolving into Ethereum 1.5, which will be stateless and easily absorbed by Ethereum 2.0. ''
According to Lubin, Ethereum 1.0 is a staking platform that made possible the launch of Ethereum 2.0, which uses a proof-of-stake consensus mechanism. Therefore, the two platforms will be closely linked. Lubin further mentioned that Ethereum 2.0 will be the "largest and most complex DeFi application" on Ethereum 1.0.
Additionally, Ethereum 2.0 will improve features such as scalability, throughput, and security on the Ethereum public mainnet, which were missing from Ethereum 1.0. The much-anticipated Beacon Chain will be part of the backbone of Ethereum 2.0.
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Will Enterprises Adopt Ethereum 2.0?
Although Ethereum 2.0 has made significant progress, it is important to point out that enterprise adoption may take some time. Lubin commented that the third phase of Ethereum 2.0 will take place in the second half of 2021 or sometime in 2022. Once Phase 3 is reached, businesses will have the ability to smoothly engage clients from Ethereum 1.0.
“Many of our members see this as strong evidence of the larger vision for the Ethereum network, which provides greater internal support for their investment in Ethereum. The main interest of members appears to be in the growing verification market and some of the tools and access methods. "
This comes as no surprise given the continued growth of the decentralized finance ecosystem, with exploding market caps and new use cases extending far beyond DeFi tokens.
In terms of deploying Ethereum 2.0, Burnett said that most Enterprise Ethereum Alliance members will focus on security, data privacy, data custody and token management. He explained: “We hope members will focus more on Ethereum 2.0 adoption once tools and support services make using an Ethereum 2.0 node easier and more straightforward.”
As such, solutions like the Baseline Protocol and other tools that support transactional privacy and confidentiality will continue to evolve as enterprise adoption becomes a reality in the coming years.
Enterprise participation in Ethereum staking?
“We will deliver the first phase of Ethereum 2.0 by the end of this year, which is a proof-of-stake beacon chain. Ether can be staked and rewarded handsomely by running validators on the network. Any institution hosting a large amount of ETH May wish to participate in pledge."
