In the cryptocurrency space, there are a lot of developments waiting to take place over the next few years. One of those events revolves around Ethereum evolving into Eth 2.0.
The switch to Eth 2.0 will be quite significant for the Ethereum community.
Eth 2.0 is Live on the Testnet
It introduces a lot of core changes, including the shift to a proof-of-stake system.
While it will not be released in the near future, some important progress has been made.
On the testnet, the genesis block for Eth 2.0 has seemingly been mined and validated successfully.
It is an important step in the right direction, albeit there is still plenty of work to be done.
For Ethereum holders, this protocol upgrade will not require any sort of action on their end.
All users will be “upgraded” to Eth 2.0 automatically once its hits the main net.
When that will happen exactly, remains subject to some debate.
Some people expect a launch in late 2020, although some push it back as far as 2023.
With the genesis block now mined on the testnet, the Proof-of-Stake angle of Eth 2,0 can be put through the wringer accordingly.
It is pertinent for the developers to ensure that everything works as expected.
All in all, a very exciting development, when looking at the bigger picture.