Ethereum 2.0 audit report announced next week, giving green light to multi-client testnet

Ethereum 2.0 coordinator Danny Ryan said Least Authority will announce the results of their review of the Ethereum 2.0 Beacon Chain next week.

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Developers will have a conference call on Thursday to discuss a range of issues, including research progress, possible releases, and client development. Ryan said:

"It is more urgent to sort the blocks in the v0.10.1 multi-client testnet. The next week we will get the results of the first version of Least Authority audits. These two things will be the developments in the coming months and eventually Provides information. "

The single client testnet has been running for several weeks and the number of validators has reached 35,000.

A key milestone will be the launch of the multi-client test network, at which time its operating status will be almost the same as the current network.

Ryan said that the launch conditions of the multi-client testnet will be an important part of the conference call, and another milestone is the audit.

Least Authority's audit is one of two planned audits, both in February. Last month, another formal review report on deposit contracts was released, with all recommendations mentioned in the report.

There are also client-specific audits, so tracking all reports is difficult, but the Least Authority report is a key milestone.

It is expected that some changes will be proposed next week, and these changes will be merged into the v0.11 specification.

The specification gives a green light to the release of the multi-client testnet genesis block and the deposit contract , both of which may be released this month.

The last milestone is the v.1 specification, which gave a green light to the release of the genesis block on the mainnet.

If all goes well, the testnet will need to run for 3 months, so the mainnet launch may be in May or early June, or if they want more meaningful, it may be July 30th.

This is after halving BCH and BSV, and more importantly, after halving Bitcoin on May 6, that is, 3 months later.

After Bitcoin is halved, the block reward will change from 12.5 to 6.25, which can be completed after one block. The release of Ethereum 2.0 is a more gradual process. Technically, it starts with the release of the deposit contract and then completes after the creation of the genesis block.

Once the deposit contract is released, we will know how much Ethereum will be deposited with this new blockchain.

We expect that it will definitely reach 500,000 ETH at the beginning, because the reward at that time may be as high as 35%. It may then be 1 million ETH, or even up to 10 million ETH.

Since then, the growth rate should slow down because it is too new, so people want to see it operate for a while, but the important thing here is that this is protocol-level ETH.

Compared to other factors, the movement of this number may depend more on price movements, it may rise during a bull market, and it may fall sharply during a bear market.

However, as far as the current situation is concerned, we know nothing, so we can only guess because there is no mainstream coin currently using PoS.

So we can only observe the activation of the deposit contract a few weeks later.