- The Ethereum 2.0 final testing phase could take place within two weeks according to the launch coordinator
- Danny Ryan told the testnet discussion group that an August 4 start date was feasible, which could see a Phase 0 launch date this year
- The Ethereum network is being pushed to its limit, with gas fees rising 300% in three months
The long-awaited final testing phase for Ethereum 2.0 could take place within two weeks, according to launch coordinator Danny Ryan. Ryan, who told a Reddit AMA only last week he was “still putting money on 2020” in the face of suggestions that the launch could be delayed until 2021, said in the testnet’s discussion group that the next testing phase, which should be the final phase before Phase 0 of the platform’s upgrade plan, should start on August 4.
Three-month Test Phase
The launch of Ethereum 2.0 has been put back time after time this year due to the technical complexity involved in making the world’s oldest blockchain smart contract platform more suitable for the modern age. Ethereum 2.0 developer Justin Drake claimed in last week’s AMA that the various upgrades and tests “cannot happen in Q3 2020”, although Ryan and Ethereum founder Vitalik Buterin disagreed with him.
It seems that Ryan and Buterin were right, as even though the final testing phase, which will see multiple clients testing the new platform, takes three months to complete, this would still potentially allow Phase 0 to be rolled out in November this year.
Ethereum 2.0 Needed More Than Ever
The upgrade to the Ethereum network has never been more welcome, with the explosion in DeFi platform usage and yield farming pushing the network to its maximum capacity, as indicated in the rise in Ethereum gas fees which have risen around 300% since April alone:
Source: Coin Metrics Network Data Pro
Ethereum 2.0 will bring in a much needed network capacity boost, increasing the transaction speed and volume and reducing the cost, something that clearly needs to be implemented sooner rather than later.