Ethereum 2.0 storage contract UI will debut on EthCC and is expected to go live in April

Trustnode reported on February 22 that the Ethereum Foundation is working with Consensys and Co to develop a storage contract user interface (UI), an earlier version of which has been leaked previously.

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Image source: pixabay

More information on the user interface will be announced at the Ethereum Community Conference (EthCC) in Paris a week later, and I hope this conference will not be cancelled like the Edcon conference. As for the timetable, we were told that the smart contract is expected to be ready by April, but the date of the "storage contract release ceremony" has not been determined.

PegaSys's Ben Edgington pointed out in a recent report that, as expected, a storage contract with a problematic architecture could lead to potential losses.

The simple solution is to have a well-structured storage contract, but this edge case highlights the fact that the BLS signature has not been verified on the current Proof-of-Work (PoW) blockchain Ethereum 1.0. Edgington suggests Ethereum 1.0 can be upgraded to verify the signature.

We were told that Ethereum 2.0 does not have to wait for the Ethereum 1.0 hard fork. Waiting for Ethereum 1.0 to hard fork a BLS signature is a time-consuming and laborious choice. Although this is a good enhancement, it is not "required", presumably because it does not affect well-structured storage contracts.

Another issue raised in the update is that there could be "some changes to the proposed BLS hash to curve standard". We were told that this might be a small change from the hash-to-curve specification of the BLS standard, but it is unlikely to be a hindrance.

An audit report on the Beacon Chain is expected to be completed last week, but has not yet been announced.

Edgington noted that the network specifications for Ethereum 2.0 have undergone a number of updates to address issues such as DDoS prevention, and developers "do not know if these changes were made based on recent security audits."

As usual, you would expect the audit department to make some suggestions. If there is any need to modify, usually work closely and resolve these issues before issuing the final report. At this point, the work is almost complete. So now we are told that the audit report is scheduled to be published from early March to mid-March, and there are only a few weeks left.

These estimates are subject to change, but it looks like Ethereum 2.0 developers and researchers are working on an approximate timeline and may release a specification version 0.11 containing all audit changes within a few weeks. This version of the specification gives a green light to a multi-customer testnet that may be released in April. According to our estimates, the storage contract may start in May and is expected to be released at the Ethereal Summit in New York.

Then the final specification version was launched. At that point, we thought it was as good as the official one, but the actual genesis block target date is July 30.

Therefore, there are still two months before the launch of the storage contract and three months before the test online. It may seem a little tight, but in April there are still two months until now, so there is still considerable room for correction. The code is retouched to reach the level of going online at any time.