When will the Ethereum 2.0 update be launched? All details
The release date of Ethereum 2.0 is rapidly approaching. Cryptocurrency enthusiasts are eagerly awaiting the release of Phases 1 and 2 of the system. Ethereum 2.0 aims to be “more scalable, more secure, and more sustainable,” according to the project’s website. Ethereum investors and miners may look forward to a slew of interesting new capabilities with the release of version 2.0. The Ethereum 2.0 release date has been announced.
So, when can we expect Ethereum 2.0 to go live?
ETHEREUM 2.0 PHASE 1 RELEASE DATE
A target release date of Q2/Q3 2022 has been set for Ethereum 2.0 first phase.
In Phase 1, “The Merge” is the name of the first phase. The Ethereum Mainnet will “merge with the beacon chain proof-of-stake system” at this point. For Ethereum, this means the end of Proof of Work and the transfer to Proof of Stake. (This was originally referred to as “The Docking”).”
ETHEREUM 2.0 PHASE 2 RELEASE DATE
Phase 2 of Ethereum 2.0 is scheduled to be released in 2023.
“Shard Chains” are the focus of Phase 2. In order to “improve Ethereum’s scalability and capacity,” “sharding,” a multi-phase upgrade, is required. After the introduction of shard chains, the network’s burden will be distributed over 64 additional chains. In addition, this reduces the amount of hardware needed to run a node.
A lot of fascinating things are in store for Ethereum this year. The currency’s value is expected to rise as further changes are implemented.
Unexpected delays can occur like with any technological innovation in today’s epidemic environment. As of now, Ethereum 2.0 Phase 1 will be released this year, while Ethereum 2.0 Phase 2 will be released in 2023.
As new information becomes available, this article will be updated.