Ethereum staking delay, latest concern for ETH 2.0

An Eth2 developer has suggested that the deposit deal won’t be done until mid-November.

This pushes back the launch time for Eth2 by several weeks

Eth2 has lost traffic and momentum in recent weeks as developers bustle about delivering a scaling solution.

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An Ethereum Foundation researcher said the ETH 2.0 deposit agreement is expected to launch in mid-November. This follows a number of setbacks for Ether’s urgent scaling solution.

On the Bankless podcast, Danny Ryan, a researcher at the Ethereum Foundation, said that the ETH 2.0 deposit agreement is not quite ready . The latter must obtain the green light from a crypto auditing company before being put into service.

The developer also noted that it was “essential” that the deposit contract be secure, as it could disrupt everything from signals to wallet addresses to deposits.

The Bitcoin Benefit deposit contract would allow holders of ethers (ETH) to realize Ethereum stakin. The protocol is in the process of moving to a consensus proof of interest algorithm. The contract is expected to launch in mid-November, according to Ryan.

In an October 18 blog post , Ben Edgington, a developer of Eth2, said he expected the deposit agreement to launch “in a few days”, adding “we are ready to go”.

A glimmer of hope

According to Edgington, the launch of Beacon Chain would likely follow the confirmation of the “six week” deposit contract. The deposit contract having been postponed, the launch of Beacon Chain also seems to be postponed.

The shift from the work program model is the most significant change in ETH 2.0, although it is only one step in a larger process. Beacon Chain is one of the many different blockchains that will power the new system. Beacon Chain allows different smaller sharding chains to communicate with the main chains and is therefore integral to the success of ETH 2.0.

Although developer Evan Van Ness said a few weeks ago that the Beacon Chain launch was slated for a few weeks, the community is still waiting for it. Mr Ryan said researchers are still aiming to launch Beacon Chain by the end of 2020.

Relentless testing for ETH 2.0

Lately, the launch of Eth2 seems to be moving away in time. On September 29, the developers launched the “Spadina” testnet, which quickly failed. More recently, operators have dropped the important “ Medalla ” testnet , which raises questions about the actual readiness of Eth2. According to Bitfly, an Austrian blockchain company, the testnet is very resource intensive and adjustments still need to be made.