Vitalik Buterin: ethereum 2.0 is still on schedule and the launch of the multi-client test network is a key step

Ethereum 2.0 is expected to meet the "phase 0" requirement before the launch of the main network with the new multi-client test network, Ethereum co-founder Vitalik Buterin said at this year's consensus conference.

V says the current launch of the new test network "Schlesi" is an important milestone in ETH 2.0 development, as it is a strict requirement that two or more compatible clients jointly run a test network for at least two months before the launch. Currently, the Schlesi network has two customers: Sigma Prime's Lighthouse and Prysmatic Labs' prching. The Teku and Nimbus clients have also synchronized with Schlesi and will soon be running their validation nodes on the test network. With four clients starting to run on the test network, Schlesi is laying the groundwork for an official multi-client test network deployed by the ethereum foundation.

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Justin Drake, a researcher at the Ethereum foundation, previously said the team wanted to launch phase 0 of the main network before Ethereum 1.0's fifth anniversary on July 30. But with the launch schedule pushed back to the second quarter from the original Jan. 3 date, and now to the third quarter, it is unclear whether the project will be completed by July.

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Vitalik also mentioned the Optimistic Rollup demo with the open finance protocol Synthetix and the research team Optimism, which tested the extensibility of Layer 2. The Synthetix version reduces oracle update latency by 37.5 times and transaction latency by 75 times. But in theory, says Vitalik, the approach could scale the Ethereum 1.0 and 2.0 chains to more than 1,000 transactions per second.

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"There's a lot of work to be done on scalability. There's a lot of work to be done on encryption and privacy, which will make it possible to implement this technology on ethereum's public chain," Vitalik said. "It's moving forward in every way."

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