Joseph Lubin: there's a "good chance" Ethereum 2.0 will go live this year

24 May, 2019 | Updated: 24 May, 2019
by Richard Allen
Ethereum
Joseph Lubin: there's a good chance Ethereum 2.0 will go live this year

Joseph Lubin, ConsenSys founder and Ethereum co-founder, sat down with CoinTelegraph at the Ethereal Summit during Blockchain Week to discuss the future of Ethereum.

Starting off, Lubin was asked about his thoughts on Ethereum's scalability. He states that Ethereum has already scaled quite significantly. Delving into more detail, Lubin states the Ethereum blockchain can handle 15 to 27 transactions per second and there are “state channels of various different varieties in zkSTARKs and in zkSNARKs and TrueBit and Plasma.”

Continuing, Lubin goes on to explain Serenity, or Ethereum 2.0. Divided into four phases, Serenity has the ability to multiply the capacity of the base trust layer by “about a thousand times.” He goes on, stating “within a small number of months we should have a fully operational test net and, possibly by the end of this year we’ll have a fully operational real phase 0 Ethereum 2.0. Good chance it’ll go live this year.”

He continues, explaining there will be different ways it gets connected with Ethereum 1.0 tokens. The Ether tokens will move to Ethereum 2.0 and there may be “bidirectional mechanisms” and in the not too distant future, there may be a way to use the Beacon Chain to finalize blocks on Ethereum 1.0. 

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