Ethereum

Ethereum 2.0 Phase 0 set to launch on 3rd January 2020

June 17, 2019, 12:39PM EDT

The Ethereum Foundation has released a more detailed timeline for the first "Zero" phase of its new, updated chain, dubbed Ethereum 2.0, according to a recent Implementer's Call.

The beacon chain deposit contract will be launched during Devcon 5, to be held in Osaka, Japan between October 8-10, followed by a genesis block launch on January 3rd, 2020 - the same day Satoshi Nakamoto first mined Bitcoin in 2009.

The delay between the launch of the deposit contract and the production of the genesis block allows for security deposits to accumulate and at least two clients to reach production status. 

Ethereum 2.0 will feature improvements in security, scalability, and decentralization.

Last month, the Ethereum Foundation announced it planned to spend $30 million on key projects across the ecosystem over the next year. $19 million of this budget will be allocated towards Ethereum 2.0-specific projects.

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