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Ethereum Researcher Lays Down Timeline for Ethereum Issuance Increase

According to Ethereum 2.0 researcher Justin Drake, the issuance of Ethereum (ETH) is likely to increase by about ten times within the next couple of years, by 2021. Drake is currently a researcher working with the Ethereum Foundation. According to reports, he has laid down a clear timeline for the issuance, saying:

“Here’s a possible timeline (dates likely totally wrong!) highlighting the key milestones: January 2020: beacon chain launch. June 2020: eth2 light clients production-ready. November 2020: eth1 fork #1 to have its fork choice rule honour eth2 finality (conservatively, no issuance reduced). March 2021: eth1 fork #2 to reduce issuance by 10x.”

Drake also emphasized on the fact that many non-technical issues might also be at play which may be quite difficult for him to foresee as of now.

He talked about two such issues in particular, one being the issue of “how fast we will get 2 million ETH (65,000 validators) for the beacon chain launch,” and the other being “how fast eth1 governance is willing to move with the two hard forks.”

According to reports, Ethereum developers are expecting full sharding to take place by the year 2021 as a few years might be required before the ecosystem can go to the point of discarding PoW (proof of work).

In the middle of June, Drake had said, during a biweekly call between Ethereum core developers that the first stage of Ethereum transitioning to Ethereum 2.0 is likely to occur on the 3rd of January next yea.

Even though this is only a rough timeline, it does help us estimate how and when developments will occur with regard to the Ethereum 2.0 launch.