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Joseph Lubin Shares Ethereum 2.0 Progress

May 16, 2020

In a recent interview, co-founder of Ethereum and Consensys, Lubin commented on the progress being made regarding ETH 2.0 release

As the public mainnet launch of Ethereum (ETH) 2.0 is getting closer, much progress has reportedly been made towards its development.

ETH 2.0: to increase scalability

Lubin also mentioned that ETH 2.0 was getting ready to enter a system that “different industries and enterprises” continued to utilize regardless of its fewer scaling solutions on offer. He affirmed that Ethereum 2.0 would start providing scaling solutions on a whole different level.

In his words: “Ethereum 2.0 is the move to prime time in terms of scalability. It will increase scalability for smart contracts on Ethereum by a 1000-fold initially”. This also shows that the new version of Ethereum will be beneficial to the entire ecosystem.

More companies adopt Ethereum

Also worthy of note, the Ethereum co-founder noted an increase in the number of firms, institutions, and enterprises coming to mainnet public Ethereum. In this mainnet, however, users would require ETH to pay for transactions and trading. On the increasing adoption of ETH, Lubin was convinced that making the cryptocurrency available on regulated exchanges was ‘necessary,’ in the long-ru

joseph-lubin

Jordan disclosed that the ETH 2.0 product had chosen the Quantstamp cybersecurity team as its official security auditor. Also, the Ethereum 2.0 community reported that “the Prysmatic Labs Topaz testnet environment validation instrument can co-exist with three nodes of the current Ethereum (ETH) network on one machine”.

There are high hopes regarding Ethereum 2.0 as the public mainnet release is going to take place soon.

Previously, we covered the OKEx Pool announcing to serve as a validator for the ETH 2.0 testnet. And recently, the other Ethereum co-founder, Vitalik Buterin, shared his thoughts on ETH 2.0 staking in a podcast interview.

Source

Defi Beeders

DeFi – Decentralized Finance

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