Posted 12 months ago | by Ben Armstrong

Ethereum 2.0 Multi-Client Testnet Close to Launch

According to recent online communication, Afri Schoedon will be in charge of a full-on Ethereum 2.0 multi-client testnet until around mid-summer. After showing a video on Twitter, he states: "this is the Schlesi v0.11 ETH2 multi-client test net genesis event."

In fact, Lighthouse has not been shown to the public in any meaningful way. Despite this, it appears that ETH2 is close to hitting the public, and the testnet may be live soon. This is another step closer to launching a more advanced version of Ethereum, which will further drive decentralized innovation.

Schoedon commented:

"It is a protracted way with obstacles we have to face always. Also, this is the first time we have a sign of success in starting a genesis with validators from two different customers. Hiccups are certain to happen, so we decided to ask a third client joining the testing efforts to tackle its issues, like Nimbus or Lodestar or Teku."

Ethereum 2.0 is Coming!

If everything happens within the right way, the test net will run for two weeks, and it will eventually be reset. Long-term and more public multi-client testnets could be published in June or July of this year, so Q3 2020 seems to be a possible time for a wider test of the new platform.

A testnet can be understood as one of the final step before launching officially on the public blockchain. In most cases what happens on the testnet will have no monetary value, although some participants are rewarded with tokens (speaking generally, not specifically about ETH2).

The launch of Genesis might happen at Devcon, which is usually held in November. This may or may not happen this year, as the pandemic has disrupted many other conventions. Regardless of this, it appears that the development cycle of ETH2 is happening, and it may be able to hit the public blockchain sometime in the next few years.

More Innovation With ETH2

Ethereum 2.0 will be a big upgrade to the current platform, which is already a very capable platform. According to Vitalik Buterin, ETH2 will be much more scalable, which may make it a contender in the established financial arena.

ETH2 will also employ Proof-of-Stake (PoS), which will make it easier to run from an energy usage perspective. One of the biggest arguments against platforms like Bitcoin is that it operates based on a Proof-of-Work (PoW) algo, which means it sucks up a lot of electricity.

Overall ETH2 seems to be developing at a positive speed, and that is impressive given the current social backdrop. As the pandemic pushes people away from existing financial structures, ETH and ETH2 are in a good position to grow as a result of their innovation and increased public interest in decentralized systems.