According to ConsenSys co-founder Andrew Keys, Etheruem 2.0 is close to release and should have a 2020 release date.
In his post on the ConsenSys website on January 7th 2020, Keys made 20 predictions about what the upcoming year would bring for blockchain. One of the most surprising yet most welcomed predictions made by Keys was that the favourite finance platform on the internet for many is scheduled for an update this year – and it’s sure to be a good one.
According to Keys, “2020 will see Ethereum move stridently beyond Phase 0 of Ethereum 2.0, onto Phase 1 and the launch of shard chains.” So what does this mean exactly?
Shard chains take the biggest issue with blockchain and make it far more workable. Blockchain is famously hard to scale up, with full nodes needing to process every transaction and keep track of the status of the entire blockchain. In comparison to this, shard chaining is a process based on splitting down databases into smaller, more easily processed chunks. By using shard chaining techniques, the blockchain becomes far more workable, processing faster and leading to far greater results for anyone working with it. By embracing shard chains, Ethereum can gain a significant amount of potential to speed up, allowing everyone using it to make their programmes more complex and effective without extortionate amounts of effort.
Will it be worth the update?
We won’t know for sure what the sparkling new Ethereum update entails until its release, whenever that may be. So far, however, the outlook looks promising. If Keys’ predictions are accurate, then cryptocurrency is likely to see some exciting new developments and a much greater level of potential for growth. If that’s the case, then yes, Ethereum 2.0 will definitely be worth the update – and the wait.