The best of Ethereum 2.0 is yet to come, says Infura GM

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The best of Ethereum 2.0 is yet to come, says Infura GM

he cryptocurrency world’s long-awaited launch of Ethereum 2.0 this month saw a seismic shift within the so-called “world’s computer” in going from proof-of-work to proof-of-stake. But Phase 0 is still a testing ground, and Ethereum 2.0’s further development will take more time

“[It’s] really good to think about Phase 0 as still a testing phase,” said Michael Godsey, general manager and head of product at Infura, a ConsenSys subsidiary that lets users run applications on Ethereum without setting up a node or wallet. “I think when developers start ramping onto ETH 2.0 is still going to be in the later phases.”

Ethereum’s Phase 0 is the first set of upgrades to the Ethereum blockchain, focusing on implementing the proof-of-stake consensus mechanism known as the Beacon Chain. Phase 0 will only serve to manage a list of proof-of-stake validators — those who have staked ETH to participate in the creation of new blocks — and will not be taking on blockchain tasks such as executing transactions or serving smart contracts.

“The earlier phases are really to verify and validate that the staking architecture works, and that the network can function inside of this new consensus algorithm,” Godsey said, in a video interview with Forkast.News. “You’re going to see a lot of validators and staking services and stuff like that come online that help people participate in that layer of the new network.”



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