Ethereum 2.0 Officially Submitted Its Very First Proposal – Serenity Phase 0

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Danny Ryan, a core developer for the most-awaited Ethereum 2.0, has reportedly officially submitted the first proposal for the project. Dubbed the “Serenity Phase 0,” – this proposal serves as the very first and most significant step of Ethereum 2.0 towards its upcoming launch as of yet. This Phase 0 step also marks the first phase on a proposed 6-phase development for ETH 2.0 that aims to extend up to 2022.

The Serenity Phase 0 will bring forth the majorly-awaited proof-of-stake (POS) unanimity framework along with it. This POS framework, which will be referred to as the “Beacon Chain,” is seen as a very efficient and cost-saving method to validate Ethereum network transactions. Furthermore, the Beacon Chain is slated to be built these following months to work in unison with the existing networks found within Ethereum.

Ethereum is already gearing up for the next step

The next step, Phase 1, is reportedly coming this year as well. Phase 1, as its currently advertised, will present the intriguing sharding mechanism. This is where data will be split onto several shards, thus the name, resulting in a lesser workload for the network. The sharding framework aims to solve the space insufficiency and scalability issues plaguing Ethereum recently, making it one of a principal focus with regards to the development of ETH 2.0.

When will ETH 2.0 come?

Ethereum is adamant with its stand of a November 2020 release. That being said, with Phase 0 practically already done and several intricate tests completed and scheduled on the way, ETH 2.0 may indeed be at our immediate horizon already.

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