Founder of MyEtherWallet: “Ethereum 2.0 will not be fully launched until 2022”

The creator of the Ethereum wallet MyEtherWallet (MEW) believes that the full deployment of Ethereum 2.0 should not be expected until 2022.

MyEtherWallet founder Kosala Hemachandra said in an interview that the zero phase of the update was originally scheduled for January 2020, but was subsequently pushed back to November 4th. This will only happen if the test network, which will be launched on August 4, is successful, if certain conditions are met. 

Earlier, Ethereum 2.0 lead developer Justin Drake stated that Ethereum 2.0’s stage zero launch could be delayed until next year. According to Vitalik Buterin, this should be done much earlier. Hemachandra believes that even if the launch of phase zero takes place this year, the full rollout of the update could take several more years.

“In recent days, everyone has been focusing on the PoS consensus Beacon Chain, and this will be the first step towards Ethereum 2.0. I’m sure we’ll see the Beacon Chain this year, ”said the creator of MEW.

He stressed that the developers have chosen the right strategy by taking a cautious approach to the launch of Ethereum 2.0. When it comes to user funds and the immutable blockchain, it will take time to update, and this expectation will be justified. The update will change the concept of blockchain by creating a secure and resilient system that can compete with centralized scalability solutions, Hemachandra said.

However, in the spring, Ethereum co-founder and founder of IOHK Charles Hoskinson said that plans for the development of Ethereum were too optimistic. At the same time, Hoskinson still considers Ethereum to be Cardano’s main competitor.

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