In line with a recently held interview, the co-founder of ETH project namely ‘Joseph Lubin’ proclaimed that the Ethereum [ETH] blockchain can become around 1,000 times alot more scaleable within the upcoming 18 to 24 months.
Lubin outlined that the event of development that would bring such a drastic scalability hike within the ecosystem would be Ethereum 2.0., also known as ‘Serenity’. He added that this new event is classified into four phases and eight teams of developers are already developing users for the new chain.
Lubin additionally promised:
“In a little number of months, we should have a totally operational testnet and probably, by the end of this year we’ll have a completely operational phase 0 Ethereum 2.0.”
Lubin added that there are several ways in which the new chain would be linked with the previous one, outlining that the Ethereum tokens would be able to move from the previous chain to the new one as “there might also be bidirectional mechanisms.”
Lubin additionally addressed considerations over the PoS [Proof-of-Stake], stating that it’s been completely researched to assure its viability before the teams started acting on its implementation. He aforesaid that this new options would be added to the chain to make it more compatible with a more use cases, citing private transactions as an example.
As ‘reported‘ earlier this month, the chief executive officer of crypto analytics firm Messari had expected that the Ethereum 2.0 transition is not expected till 2021.