Ethereum News Today – Headlines for October 25

  • Ethereum 2.0 Deposit Contract Would Launch by Year-End
  • Ethereum Set to Attempt a Cross Client Testnet This Week

Ethereum News Today – The much-anticipated and long-awaited Ethereum upgrade is getting close to its final stages of launching. Ethereum 2.0 is expected to launch in the first quarter of next year, January to March 2020. A vital component, ETH1 bridge or the deposit contract, is going through a process known as “blockchains standardization.” This means a number of blockchain projects coming to terms to utilize certain cryptography, BLS signatures, in a particular way.

That is in part due to the fact that cryptographers are far between and few. Therefore, they need to create a standard in which they all agree to simplify cross-research between all cryptographers irrespective of the blockchain they are working on.

Ethereum (ETH) Price Today – ETH / USD

NamePrice24H %
ethereum
Ethereum(ETH)
$3,580.681.35%

Ethereum 2.0 Deposit Contract Would Launch by Year-End

The standard process has slightly delayed the launch of the deposit contract. However, they have finalized the process and all that is remaining is the agreement between blockchain projects. Nevertheless, the delay is not much and it is not clear if it matters for the launch of the genesis block. Ben Edgington of PegaSys tole Trustnodes:

I am not a decision maker but I have talked to various people involved. The new BLS spec has been stable for some time and is thought to be unlikely to change further. Very soon the blockchain adopting this would agree that it is frozen. Not that formal standardization, but we are not concerned with that. Tools to sign the deposit database on the new method would be implemented. The deposit contract would go live. I would expect this last step by year-end, but that is speculative. I do not see a reason it would take longer than that.”

By formal standardization, he was talking about the IETF committee, and this would take too long. Rather, the blockchain projects would agree on their own standards that would be adopted by the committee. However, if they do not agree on their own standards, there would be a blockchain standard.

Ethereum Set to Attempt a Cross Client Testnet This Week

The testnet is the other part of the Ethereum 2.0 launch. When asked about the testnet, Preston Van Loon of Prysmatic Labs said:

“I am not aware of any other client that has the ETH1 bridge. By ETH1 bridge I mean reading and voting about ETH1 data, the deposit contract specifically.”

After discussing with other developers, they found a solution to it. He said that they would now attempt a cross-client testnet this week. This means that the bridge is more likely to launch by the end of this year.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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