The Ethereum blockchain network may switch to an updated version (Ethereum 2.0) as early as August this year. About this co-founder of Ethereum Vitalik Buterin informed as part of a speech at the ETH Shanghai Web 3.0 Developer Summit.
According to him, the transition may be delayed if the developers identify potential risks. In this case, the “merge” (passing the Merge phase) with the updated version may occur in September or October.
After moving to Ethereum 2.0, developers want to do many more upgrade steps: the Surge (to scale the network and increase the number of transactions), the Verge (to simplify the deployment of nodes), the Purge (to optimize the nodes and the amount of data needed to synchronize with the network ) and the Splurge (Ethereum Virtual Machine improvements, EIP-1559 updates, and more).
Buterin himself believes that for the successful existence of the new version of Ethereum, it will be enough to go through the Merge and the Surge phases, but with other phases, the network can become “even better”. However, it remains unclear how long the implementation of all plans will take.
Previously, Ethereum developers have already postponed the update. As the developer of the Ethereum Foundation, Tim Beiko, said, the “moving” of the network is likely to take place closer to the fall. Despite the shift in timing, Beiko noted that the Ethereum ecosystem is already “at the final stage” of Proof-of-Work. What exactly caused the extension of the move remains unclear.
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