Ethereum Foundation announces spec freeze for ETH 2.0

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Danny Ryan, a developer with the Ethereum Foundation, announced that the code freeze of Phase Zero, the first iteration of Ethereum 2.0, was live. According to the project’s GitHub repository, version 0.8.0 will serve as a stable target as implementers work towards finalizing the entire project by January 2020.

Code freeze Phase Zero for the new Ethereum blockchain goes live

While Ethereum 2.0, the next generation Ethereum blockchain, might not see the light of day until next year, work on the project has been on schedule.

On Jun. 30, the Ethereum Foundation announced the code freeze of Phase Zero, the first iteration of Ethereum 2.0. While Jun. 30 was set as a possible date for the freeze earlier this month, developers seemed unsure that they would meet the deadline.

Danny Ryan, a researcher with the Ethereum Foundation, announced the news on Twitter, sharing the project’s specs on GitHub. The beacon chain required the most work, the changelog showed, with four critical bugs resolved and five new features added. However, significant changes to the phase are still expected, especially to the BLS signatures

Version 0.8.0 serves as an anchor for developers

According to the release’s GitHub page, version 0.8.0 of the Phase Zero will serve as a stable target for developers working on the project. From now on, implementers will be able to focus on multi-client testnets, Ryan said, in addition to on-going efforts in formal verification, fuzzing, and audits.

However, despite multiple bug fixes and new features, Phase Zero still needs a lot of work. Earlier this month, Ethereum Foundation researcher Justin Drake said at least 2 million ETH would need to be staked on the Ethereum 2.0 network for Phase Zero to launch successfully.

But, seeing how the Ethereum Foundation plans on allocating $19 million out its $30 million budget on the Ethereum 2.0-specific project, the January launch seems more than feasible. Even Vitalik Buterin, the founder of Ethereum, said that the current tempo makes January 2020 “a feasible target.”

Ethereum, currently ranked #2 by market cap, is down 2.9% over the past 24 hours. ETH has a market cap of $30.87B with a 24 hour volume of $10.4B.

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Ethereum is down 2.9% over the past 24 hours.

Filed Under: Ethereum, Price Watch, Technical Analysis

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in Computer Science Engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving the transportation problems at his company, he can be found writing about the blockchain or roller skating with his friends.

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