Danny Ryan and Vitalik Buterin have submitted a formal proposal that outlines the various components of the much awaited Ethereum upgrade, ETH 2.0.This is an important step towards the network launch and shows that upgrades are still on schedule for the upcoming November launch.
After restarting the Medalla testnet, the ETH 2.0 team submitted an EIP explaining how ETH 2.0 works. Danny Ryan and Vitalik Buterin jointly submitted a proposal
The ETH 2.0 development team is under pressure for saying a release before 2021 is unlikely. This has drawn sharp criticism, as Ethereum has developed a reputation for delayed launches. However, in the open source ecosystem, ensuring a resilient system is a higher priority than sticking to deadlines, and we totally agree on this one too
While his comments don't guarantee that the network will upgrade soon, it looks like the team is still on the right track to awarding Stage 0 and ETH bets by the end of this year.Ethereum investors are eagerly waiting to use their ETH productively. Other means, such as the yEarn Finance vault strategy, have offered returns to these investors up to risking the available Ethereum 2.0.In Phase 0, all ETH in the deposit contract will be locked for a minimum of several years.