Quantstamp Audit Greenlights Ethereum 2.0 Launch

UTC by James Lovett · 3 min read
Quantstamp Audit Greenlights Ethereum 2.0 Launch
Photo: Shutterstock

Ben Edgington, an Ethereum developer, confirmed the completion of the audit of the Ethereum 2.0 client by Quantstamp.

Quantstamp, a smart contract auditing company, has announced that Ethereum 2.0 is almost ready for launch. The green light for the long wait of the Ethereum 2.0 launch came after the audit of Teku.

Decrypt reportedly stated that the Ethereum 2.0 launch announcement came after Quantstamp successfully completed auditing of Teku – a ConsenSys developed Ethereum 2.0 client. Ben Edgington, an Ethereum developer, confirmed in a tweet the completion of the auditing of the Ethereum 2.0 client by the leading blockchain security company.

Richard Ma, CEO of Quantstamp, issued a statement saying:

“Ethereum 2.0 is on track to deliver Phase 0 in the very near future. Client teams have spent countless hours coordinating, testing, and working with auditing firms to ensure that the foundation of Ethereum 2.0 is ready for delivery.”

Actually, the team behind the development of client Besu was the one that built Teku using Java programming language. Therefore the auditing was focused on consensus rules enforcement and maintenance of required code and control for both rewards and penalties.

Quantstamp noted after the audit that the Teku development team maintained the highest quality codebase as issues reported were resolved quickly. Some of the audit’s resolved findings entailed addressing a missing validation logic, errors that cause clients to fall out of sync, and unlimited inbound messaging queue resulting in DDoS attacks on individual nodes.

Ethereum 2.0 Is Imminent

One of the Ethereum community’s long-standing goals is for Ethereum 2.0 to deliver Phase 0 before the end of 2020. In July, Justin Drake, an Ethereum 2.0 researcher, had insisted through a tweet that the community can no longer wait but just wants phase 0 genesis to be delivered in 2020.

Ethereum network’s update, Ethereum 2.0, is a proof of stake (PoS) consensus mechanism that is aimed at addressing the system’s security and scalability problem. After the full rollout of Eth 2.0, network users will no longer be unable to independently verify the coin supply, while thousands of transactions will be done in the blockchain. Ethereum 2.0’s full rollout is scheduled to occur in three phases, namely, Phase 0, 1, and 2, following the successful series of testnet launches, including Topaz, Zkinken, Spadina and Medalla.

Beacon Chain, assessed in the Spadina and Zinken testnets, is set to be released with Phase 0. After being launched, it will synchronize time, validate empty blocks and enable developers to observe its operation in the real world. Beacon Chain’s existence will occur side to side with the present Ethereum blockchain.

Phase 1 of the Ethereum 2.0 launch will take effect as soon as Beacon Chain is unveiled. Essentially, Phase 1 aims to scale transactions per second rate of Ethereum by integrating the proof of stake shard chains. A full Beacon chain node implementation and a validator client are inbuilt in the now-audited client, enabling users to fully register their participation in network consensus. Chainproof is a smart contract coverage warranty that Quantstamp relies upon to protect the DeFi community as it covers the Backstop Contract value.

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