Ethereum Developer: Ethereum 2.0 deposit contract is expected to start at the end of this year

According to Trustnodes' October 25 report, Ethereum 2.0 is about to enter the final stage of development and is expected to be officially launched between January and March 2020.


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The key component of the Ethereum 1.0 bridge or deposit contract is undergoing a “blockchain” standardization process, which means that many blockchain projects agree to somehow use some kind of encryption technology, the BLS signature.

This is partly because cryptographers are rare, so a consensus standard is needed to facilitate cross-cutting between all cryptographers, regardless of what blockchain they are studying.

This slightly delayed the start of the deposit contract, which has been developed and is awaiting this agreement between blockchain projects.

However, this has not been postponed for too long, and it is unclear whether it will affect the launch of the creation block, Ben Edgington of PegaSys told Trustnodes:

“I am not a decision maker, but I have already talked to a lot of people involved. The new BLS specification has been in development for some time and is unlikely to change in the future.

Soon, maybe a few weeks later, the blockchain using this technology will agree to freeze it. Please note that formal standardization takes longer, but we don't care about it.

A deposit data signature tool based on the new method will be implemented.

The storage contract will also take effect. I expect the final step to be completed by the end of the year, but this is only speculation. I can't see the reason for this longer than this. His formal standardization refers to the agreement of the Internet Engineering Task Force (IETF) committee, which may take a long time. The blockchain project will recognize their own standards and hope that the committee will adopt them, but if the committee does not agree, a blockchain standard will be developed.

Another aspect involved in the Ethereum 2.0 launch is the test network. When Preston Van Loon of Prysmatic Labs was first asked about the test network, he said:

"I don't know if there are other customers who have the Ethereum 1.0 bridge. I said the Ethereum 1.0 bridge refers to reading, writing and voting on Ethereum 1.0 data, especially storage contract data."

After a discussion with other developers, they found a solution, so he said they will try cross-client test networks this week.

This means that the deposit contract may not affect other aspects. So if the bridge can be launched at the end of the year, it would be a good Christmas gift because it only applies to sending Eth to end users.

Developers should first see what the Beacon looks like on the test page and how to set up their Staking system to better decide if they want to send Eth to the storage contract.

Then they will have a few weeks to actually send Eth, and the final version of the test network will be released sometime this winter. If it does start this year, it means it is not delayed by the storage contract.