ConsenSys developer Ben Edgington has released an update that predicts that the ETH 2.0 beacon chain will emerge in the next six to eight weeks.
In a post announcing the launch of V1.0.0 Release Candidate 0, Edgington announced that the address of the deposit agreement would be announced this week. The deposit contract enables the ETH to be sent between Ethereum and ETH 2.0 and is one of the few remaining updates required to facilitate the introduction of ETH 2.0 phase 0:
“As far as I know, we can get started: deposit agreement in the next few days; 6-8 weeks later genesis of the chain of lights. “
However, the developer of the PegaSys Engineering Group emphasized that his prediction “is not an official statement”.
To complete the launch of Phase 0, 500,000 Ethers will need to be locked out of use after the beacon chain goes live, followed by a one-week Genesis delay to allow the network time to prepare.
According to Edgington, the new version also strengthens Ethereum against denial-of-service attacks, implements the Genesis delay and a temporary quadrupling of the penalty fees.
The penalties were increased in response to the “slightly bumpy” Genesis “dress rehearsal” in the Spadina test network in late September and the now “very low participation” in the Medalla test network.
The developer described the fee hike as a “temporary measure to give the stakers more confidence in case we run into problems”. Despite the low test network participation, Edgington firmly believes the network is ready to move into phase 0:
“I think people get a little bored with test nests. It’s time to move on […] We have to start phase 0 as soon as possible. “
Edgington’s contribution comes after a successful test in the Zinken test network last week, which Anthony Sassano of Set Protocol described as “the penultimate test network for the dress rehearsal before the final start date of ETH 2 phase 0 for the main network”.