Medalla’s ETH 2.0 testnet validators have blocked about 2 million test ETHs for staking. The developers plan to launch Phase 0 of the Ethereum 2.0 mainnet in November.
After the deployment of Ethereum 2.0, the transaction processing speed should increase from 14 to 100,000 per second. The low bandwidth of the current version of Ethereum has led to higher transaction fees amid the boom in the DeFi industry. One of the major changes to ETH 2.0 will be the move from PoW to PoS consensus.
The developers plan to launch the Ethereum 2.0 mainnet in November. Although in July, Ethereum 2.0 lead developer Justin Drake said that the launch of the zero phase of the update could not wait until early next year. Vitalik Buterin did not agree with this and said that the launch of the network is necessary much earlier, regardless of the level of its readiness.
Ethereum 2.0 is currently being tested on the latest version of Medalla’s testnet , launched in August. In the middle of the month, Jelurida co-founder Lior Yaffe claimed to have discovered a potential vulnerability in the Ethereum 2.0 testnet – a low level of staking participation could allow whales to disable the network.