Ethereum 2.0’s long and winding road to scalability launch

Ben Edgington, the lead product owner at ConsenSys Quorum Protocol Engineering advising on Ethereum 2.0 development across the ConsenSys organization, maintains a positive outlook on the Dec. 1 launch date, telling Cointelegraph: The numbers show that the potential is there, as the number of addresses holding 32 ETH hit an all-time high of 126,852 in the hours following the news. On the other hand, those who do stake will be locking up their tokens in a one-way contract until the current Ethereum mainnet joins the beacon chain.

Perhaps the most significant milestone for the existing Ethereum 1.0 ecosystem will be Phase 1.5, when the Ethereum mainnet joins the beacon chain as a shard chain. This year, both Matic Network and the OMG Network unveiled layer-two solutions based on variations of Plasma, which makes use of side chains to take processing load off the main Ethereum chain.

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