Ethereum 2.0 delays thread

[Tash]

Its already a failure, 2.0 was suppose to happen at beginning of 2018, well that was the promise at launch time

Why the failure on Ethereum 2.0? are there still many factors that are not ready yet? so the ethereum 2.0 developer failed at that time? and honestly I also do not know about the development of ethereum 2.0 in 2018 then.

Actully its wrong its beginning of 2017

Back then it wasn't called 2.0 it was projects (‘Homestead’, ‘Metropolis’, ‘Serenity’.....) as it keeps delaying and confusing with names its now switched to 2.0

The initial story was that there will be a total of 92,000,000 Ether when the ICO happened and people invested.
60 million - Pre-sale, 12 million - dev fund and ~18 million mined - 1 million coins mined per month for 18 months prior to going from POW to POS.
Block 1 date is 2015-07-30 + 18 months = Monday, 30 January 2017

Also that 100% wine (92 million) has already got 20% water mixed in still sold as pure wine.

[Ozero]

I am beginning to like the Ethereum devs to be honest but does anyone else ever wonder,,, why altcoins love to have a deadline and then fail to deliver? Why not just never have a deadline and surprise everyone by making it ready? I mean the deadline can still exist but be internal so that the public does not feel disappointed, right?

Earlier it was written that a deadline was proposed for introducing improvements in ethereum called Ethereum 2.0 on the fifth anniversary of this coin, which will be 07/31/2020. Buterin claims that there are opportunities for earlier implementation of these improvements. I think that rush is not needed in this matter. It is much more important that after this there are no unforeseen complications and vulnerabilities. Ethereum expects a good future anyway.

[davinchi]

Recently some people have been talking about upgrading Ethereum, yes the launch of Ethereum 2.0 . But the closer it was to launching and it turned out to be a delay, surely many people were disappointed. Whereas everyone hopes that Ethereum 2.0 can have a positive impact on Ethereum growth, especially the price. But it seems that dream is futile and we are just trapped in a hype.

This might surely not be a hype. Etherum is already a strong project which has grown immense demand from the time they launched. Also in the recent etherum markets we could see a price hike which might be perhaps linked to the development work of the Etherum 2.0 upgrade.

People mostly like the projects who follow their timeline which might show us the hard efforts of the developers. The developers might assume a date which might give them sufficient hours to perform the upgrade on the network and they should only launch the date which won't be delayed in order to keep the interest of several holders or investors.

[kindbtc]

I would definitely not complain because i have been a longterm holder and supporter of Eth and i am sure that as soon as Eth 2.0 roles out parabolic run will start and i am personally eying a new all time high of 2500 to 3500 for eth in this new bull cycle which already seems to have started, so lets stay positive and hodl.

[mandor]

I'm a little disappointed with this delay but that's it doesn't matter because Ethereum lovers will remain patient waiting for the launch of Eth v2.0 in this year. maybe the development team is compiling the right plan for the launch of Eth v2.0 and for now there is no reason not to invest in Ethereum despite to happens the delay in v2.0. keep buying ETH and HODL.
 

[bitgolden]

Development of Etherum 2.0 might not really be an easy task for the developers as they need to modify and introduce major things onto the etherum network. Also the ability to stake our etherum is going to need a huge development before they could present their development process in-front of the community.

I would personally not hurry the development team to launch etherum 2.0 soon because the more delay they do the more demand would rise for the same. We can't expect everything to happen on time as huge backend works are been needed on the platform in order to allow PoW onto the network. Etherum 2.0 would surely bring a new revolution in the etherum network which is going to boost the demand for etherum in the coming future.

[monineklutak]

I would definitely not complain because i have been a longterm holder and supporter of Eth and i am sure that as soon as Eth 2.0 roles out parabolic run will start and i am personally eying a new all time high of 2500 to 3500 for eth in this new bull cycle which already seems to have started, so lets stay positive and hodl.

only this makes Ethereum have another life after a few years seem dead, I was a little worried first, but after there Ethereum 2.0 will be launched the taste disappears, and I believe again

[Tash]

Development of Etherum 2.0 might not really be an easy task for the developers as they need to modify and introduce major things onto the etherum network. Also the ability to stake our etherum is going to need a huge development before they could present their development process in-front of the community.

I would personally not hurry the development team to launch etherum 2.0 soon because the more delay they do the more demand would rise for the same. We can't expect everything to happen on time as huge backend works are been needed on the platform in order to allow PoW onto the network. Etherum 2.0 would surely bring a new revolution in the etherum network which is going to boost the demand for etherum in the coming future.

Lol, in 2014 it was no trouble at all for tons of crappy coins with semi professional developers managed to implement on time. Sunny kings tech is almost 10 years old and was planned from beginning, is part of Ethereum white paper. It is also proven over the years to be a fail.

Maybe the devs should visit a base level introduction course with the king as he already works on bigger better things.

36 months became 36 years but its done

[Dart18]

Does Ethereum 2.0 needs approval too from SEC just like how Bitcoin ETF is?

I still don't understand why this is taking too long.
I thought it was really January of 2020 where they will start it.

ETH 2.0 does not need approval from SEC. Like what I said above, it's only a network upgrade and doesn't have anything to do with regulators like ETFs.

From the articles I've read, they never gave any assurance that it will launched on this date or that date. They were making an estimate and that means it could change at any time.

The article has this to say regarding the further delay

the Eth 2.0 team said the network won’t launch until three clients can run testnets consistently for a minimum of eight weeks.

I'm not a developer but I can understand the reason why they would rather delay it further than launch it with a lot of vulnerabilities. That's why testing is so important and it could take longer time depending on the results.

Thank you for that understandable way to explain it.  
I guess all we can do is still wait.

I am beginning to like the Ethereum devs to be honest but does anyone else ever wonder,,, why altcoins love to have a deadline and then fail to deliver? Why not just never have a deadline and surprise everyone by making it ready? I mean the deadline can still exist but be internal so that the public does not feel disappointed, right?

It might be to hype things up.
Also, we are like customers to them.
They need to update us with every move they will make.
Another good reason is the changes will be a big one. From POW to POS. That is something new which should never be missed by anyone supporting Ethereum.
The good part though is we can still hoard more Ethereum while preparation is still not complete.
As long as it is cheap then I will buy. The staking process will be new to me and I want to be a part of that.

[bbc.reporter]

Does Ethereum 2.0 needs approval too from SEC just like how Bitcoin ETF is?

I still don't understand why this is taking too long.
I thought it was really January of 2020 where they will start it.

There was already a news article where someone from SEC mentioned that coins issued in Ethereum 2.0 might be an illegal security.

Source https://beincrypto.com/ethereum-2-0-proof-of-stake-could-be-classified-as-a-security-says-cftc-chairman/

However, this is not the cause of this delay and the other coming delays. Difficulty of deployment will be the cause.

[pikkie]

I'm a little disappointed with this delay but that's it doesn't matter because Ethereum lovers will remain patient waiting for the launch of Eth v2.0 in this year. maybe the development team is compiling the right plan for the launch of Eth v2.0 and for now there is no reason not to invest in Ethereum despite to happens the delay in v2.0. keep buying ETH and HODL.
 

I think there is no choice but to hold your ethereum, but if you want to let go of ethereum and trade bitcoin it's not a problem because the ethereum 2.0 launch process is still very long so if you waste your time just to wait it only gives you losses, more good you use your capital to trade in other coins first so that there is an investment from you to rotate capital to always be able to make a profit.

[mamahdedeh]

I'm a little disappointed with this delay but that's it doesn't matter because Ethereum lovers will remain patient waiting for the launch of Eth v2.0 in this year. maybe the development team is compiling the right plan for the launch of Eth v2.0 and for now there is no reason not to invest in Ethereum despite to happens the delay in v2.0. keep buying ETH and HODL.
 

I think there is no choice but to hold your ethereum, but if you want to let go of ethereum and trade bitcoin it's not a problem because the ethereum 2.0 launch process is still very long so if you waste your time just to wait it only gives you losses, more good you use your capital to trade in other coins first so that there is an investment from you to rotate capital to always be able to make a profit.

for me holding ethereum the most important thing is that prices go up and targets are reached. and for ethereum 2.0 I don't think it needs to be waited for, because several times the event failed. later when it will happen, I think a lot of news will expose it, and we can strategize again

[Reid]

Or just to make it simple, they are still not ready.

As of how I understand it they need more funding or investors to come in to support every changes that will be made.
I am a little intrigued with it though.
If I remember it correctly, Vitalik sold a lot of Ethereum at the time of ATH like $1000+ a piece.
Just don't have the accurate number at how many ETH he had sold. (70k ETH?)

Maybe it is still not enough for the funding and he doesn't want the value of Ethereum to just go down because of the staking process.
More to dig.

[GreenStox]

maybe the application will take a lot of time, we know that many tokens that are on the ETH network, as well as tokens with the largest daily volume, are also part of ETH, so it will take a lot of time to fully implement them.
and if he really puts off, the application will be even longer.

[bbc.reporter]

I am not wishing for a delay, I am also not hoping for anything bad on this project. However, I will speculate that there might be a delay on May hehehe.



The ethereum 2.0 depositing process has been leaked with a screenshot showing step by step how 32 eth can be sent from the Proof of Work (PoW) chain to the new Proof of Stake (PoS) Beacon Chain.

So confirming the slides are legit, with ethereum 2.0 waiting for an audit report that hopefully goes out this week. The multi-client testnet then goes out first, hopefully in April, with the deposit contract launching hopefully in May at perhaps the Ethereal Summit in New York.

Read in full https://www.trustnodes.com/2020/02/09/ethereum-2-0-deposit-contract-interface-leaked

[bbc.reporter]

What is the beacon chain? Is it simiar to IOTA's coordinators where a centralized group of developers can declare a shutdown on their platform? How long will the beacon chain be online?

I reckon IOTA has not yet removed and might never remove the coordinator.


Coders from Prysm and Lighthouse have released a multi-client testnet for Ethereum 2.0 (ETH 2.0), as a vital step in the process towards Phase 0 (the beacon chain).

Read in full https://cryptonews.com/news/multi-client-testnet-for-ethereum-2-0-is-live-bringing-phase-6408.htm

Popular cryptocurrency IOTA has temporarily shut down its entire network after a hacker stole funds from ten of its highest-value users.

Source https://nakedsecurity.sophos.com/2020/02/18/iota-shuts-down-network-temporarily-to-fight-wallet-hacker/

[wowz2010]

Perhaps most of the ethereum developer team is working on tokens and other applications to the main product (maybe ethereum 2.0 is not the main product anyway)
So they know it is important, but I assume there are way more vital things to do they have so gotta delay that 2.0 for a bit more

[Tash]

Ethereum 2.0 delays 1191 days and counting

Initial story 18 months after release, Ethereum will switch from POW to POS aka Ethereum 2.0
Thursday, 30 July 2015 --->  Monday, 30 January 2017 ...... Tuesday, 5 May 2020 blah, blah, blah

[IShishkin]

Ethereum's team represents 2.0 as "a problem of development". In fact this is a problem of the flawed design. It does not scale, it is not secure and it is highly centralized. Definitely, it is not something what is sold to "investors".

[bbc.reporter]

As I speculated, their July release date is also delayed. Vitalik expressed his own estimate that a 3rd quarter release date might occur. However, it might be delayed again, I reckon.

I predict that the Ethereum development team might be forced to launch a centralized Eth 2.0 beacon chain without staking that will function similar to IOTA's coordinator.



During a Monday appearance at CoinDesk’s Consensus: Distributed, Buterin appeared to confirm a July launch date put forth in February by the lead researcher of the Eth. 2.0 project, Justin Drake.

CoinDesk chief content officer Michael J. Casey asked if the overhaul to the world's second-largest cryptocurrency by market cap was "really coming in July. Are we ready for it?"

"I think so, yeah," Buterin said, before rattling off milestones achieved so far.

Eth 2.0 testnet coordinator Afri Schoedon countered Buterin’s statements on Twitter. “The final spec is not implemented in any client and we didn’t launch a coordinated testnet yet,” he wrote, adding:

In response, Buterin tweeted, “Yeah I did not say July. Perhaps the question contained the word July but I did not hear July when it was asked.” He then sent a second tweet, saying, “OK I definitely should have heard July in the question, it was my mistake.”

When reached by CoinDesk on Tuesday, Buterin offered a full statement:

“I re-listened to the interview. The question indeed contained ‘July’, I don’t recall hearing ‘July’ so it sounds like it’s my fault for mishearing. Apologies for that,” Buterin said via email. “My actual stance is that eth2 is ‘on track’ in that there aren’t any unexpected bumps in the road, testnets are coming along, etc, but I defer to the client devs on timelines and if they are now saying ‘Q3’ more broadly then I believe them.”

Source https://www.coindesk.com/vitalik-buterin-clarifies-remarks-on-expected-launch-date-of-eth-2-0