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The works on the development of Ethereum 2.0 are going on. The multi-client testnet is scheduled for April.
The multi-client testnet phase is the last stage before the final introduction of the new Ethereum 2.0 to the mainnet. Buterin said several things which are worthy of note. He indicated that the latest phase underwent a security audit with the audit company Least Authority. Several issues were identified. The peer-to-peer messaging system and the block Prosper system have security issues. Vitalik has noted that the solutions to these problems are rather long-term rather than short term.
Least Authority had issues with the anti-spam system of the peer-to-peer messaging component. Buterin said that this also occurred in ETH 1.0. Vitalik also said that this issue took some time to resolve. He expects this will take some time to get right.
“In general, we definitely take network security anti-spam seriously,” Buterin said. “Eth1 has taken some time to harden its network layer and there are currently a lot of eyes on networking issues so I expect DoS issues to be mitigated over time.”
“Regarding BAR resiliency, I expect that the approach we’ll take will be to assume altruism at the beginning and then build in better incentive properties over time; the eth1 networking is also evolving in this direction,”
Vitalik also revealed that the Ethereum development team is considering the recommendations made by Least Authority. The Single Secret Leader Election (SSLE) is one of those recommendations that the audit firm had made. This recommendation will reportedly be implemented in ETH 2.0 and beyond. It is also a part of Vitalik’s Ethreum roadmap document.
Ethereum 2.0 Multi-Client Testnet Could be Introduced in April
Buterin has also indicated that the multi-client test net may take place in April. However, the phase 0 bug bounty program will occur as well. This is to allow the best coders within the crypto space to test their collective wit against the ETH2.0 system to find bugs.
“The best way to think about when phase 0 mainnet launch will take place is, first we need a multiclient test net, then we wait for that testnet to run for some time without issues, and if it does then we launch. This is a similar procedure to what we did back in 2015 for eth1. So it is not easy to predict when mainnet will happen, though we absolutely expect multiclient test nets very soon; April seems very likely.”
Expectations have been running high for ETH2.0. Vitalik and his team have implemented some daring changes along the way. It will be great to see how the new staking system works as opposed to the current Proof-of-Work (PoW) system currently in place.
On the whole, though, ETH 2.0 may be the beginning of the new adoption phase that the crypto space has been waiting for. The big question is if everyone is ready for it.
As at the time of writing this report, Ethereum (ETH) was trading at $132.71 (0.54%).