Ethereum’s co-founder released the network’s initial development roadmap this past March – stating that it will be the vision for Ethereum for the next five to ten years. It states that the development of Ethereum 2.0 is set to be divided into three comprehensive phases. Phase 0, the recently launched Beacon Chain, serves as the very backbone of the coming upgrade but will have no effect on its application layer. The next is Phase 1, which is set to introduce the enticing sharding data feature on top of expanding its overall storage. Lastly, Phase 2 will be the culmination of the very development itself. The promised features for the Ethereum 2.0 will be integrated; this includes the aforementioned sharding and the highly-advertised 1000 TPS throughput capability.
With that being said, Vitalik Buterin’s updated version notably eliminates the terms “Phase 1” and “Phase 2” entirely. In its replacement, Buterin highlighted that the definition of its features is now much more comprehensive – fully separating them from each other while also incorporating the work performed on the original Ethereum 1 blockchain.
While Buterin feels noticeably confident and ecstatic about the future of the network, MyEtherWallet’s CEO, Kosala Hemachandra, wants to take one careful step at a time. When asked what’s next for ETH 2.0 after the successful launch of its Beacon Chain, Hemachandra cautiously answered that they are expecting all forms of hurdles to come eventually.
He explained that Ethereum 2.0 is now heading into its phase 1. The hardships and issues the developers encountered from Phase 0 will undoubtedly be present once again and perhaps even more. With that in mind, he states that the precise immediate future for the upgrade is still uncertain. However, they are bracing themselves as early as now for a tumultuous development process.