Joseph Lubin: “due to Ethereum 2.0, the Ethereum scalability will grow 1000 times”

Joseph Lubin said that the blockchain scalability of Ethereum would grow 1,000 times in the next two years.

Co-founder of Ethereum expressed his opinion in an interview with Cointelegraph last weekend. Lubin specified that such a significant increase in scalability will be ensured by the next iteration of the Ethereum 2.0 blockchain network. He explained that the development divided into four stages and that eight groups are already creating clients for the new chain. 

"In a small number of months, we should have a fully operational testnet and possibly, by the end of this year we'll have a fully operational phase 0 Ethereum 2.0," 

noted Lubin

 Lubin explained that there are several ways to connect the old and the new chain. He also noted that the ethers will be able to move from the old chain to the new one and announced the possible introduction of "reverse mechanisms".

He also mentioned proof-of-stake (PoS), stating that the algorithm was thoroughly researched before the teams started working on its implementation. He said that new functions added to the blockchain in order to open up more opportunities for various options for its use, and cited confidential transactions as an example.

Last week, startup Prysmatic Labs launched Sapphire, the first test version of Ethereum 2.0.

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