The Ethereum Foundation has released a more detailed timeline for the first phase of its new, updated chain, dubbed Ethereum 2.0, according to a recent Implementer’s Call.
Researcher Justin Drake called for a freeze on the Phase 0 specification by June 30th. The beacon chain deposit contract will be launched during Devcon 5, to be held in Osaka, Japan between October 8-10, followed by a genesis block launch on January 3rd, 2020. Satoshi Nakamoto mined Bitcoin’s genesis block on January 3rd, 2009.
The delay between the launch of the deposit contract and the production of the genesis block allows for security deposits to accumulate and at least two clients to reach production status, the latter referring to a long-running cross-client testnet that has passed through an audit, fuzzing, and formal verification.
Ethereum 2.0 will feature improvements in security, scalability, and decentralization. Last month, the Ethereum Foundation announced it planned to spend $30 million on key projects across the ecosystem over the next year. $19 million of this budget will be allocated towards Ethereum 2.0-specific projects.