Code For Ethereum's Proof-of-Stake Blockchain to Be Finalized Next Month

Code for ethereum's highly-anticipated proof-of-stake blockchain is on course to be finalized as early as sometime next month.

In a bi-weekly call between ethereum developers, Ethereum Foundation researcher Justin Drake said that code specifications for the first phase of ethereum's transition to a proof-of-stake network were "On track" to be finalized by June 30.

Ethereum has been inching toward a major upgrade, dubbed ethereum 2.0, which would radically change the how the $17 billion network creates blocks and verifies transactions.

As explained by founder of ethereum Vitalik Buterin in a recent interview at ethereum conference ETHCapetown, ethereum 2.0 has "Two major flagship components."

Sharding will only come in the later two phases of ethereum 2.0 roll-out.

The first phase - dubbed Phase Zero - strictly launches ethereum's new proof-of-stake blockchain.

Erin recently proposed an increase to validator reward issuance in the ethereum 2.0 system that will have to be finalized for Phase Zero execution.

"One of the things that might be possible when we do a spec freeze - thanks to all these simplifications both cosmetic and substantive - is that we might be able to fit the state transition function of Phase Zero in 512 lines of codeAll of ethereum 2.0 in terms of state transaction function including both the Beacon Chain and the shards might fit into 1,000 lines of code which is amazing."

Drake offered the caveat that there are "a few black boxes" that have yet to be figured out with ethereum 2.0 designs.

Still, many ethereum 2.0 implementors are eager to get testing for Phase Zero underway.