Ethereum developers are ironing out a second dry run of the live launch of the genesis block expected sometime in November.
That being once the minimum eth deposits are met, then for mainnet another 7 days have to pass, but here it’s 4 days.
“There’s a slew of time dependencies on this testnet so didn’t want to go with the 7 this time. Hopefully 4 will give us a good feel for the longer stretch,” Danny Ryan, the ethereum 2.0 coordinator, says.
There’s already deposits for this second dry run testnet which is called Zinken, as pictured above, showing the great interest that many have in this final stage prior to the launch of phase zero of ethereum 2.0.
Provided all goes well, then it would give the green light for the live launch with Zinken to last only three days as far as the devs are concerned.
Ryan has previously stated he won’t take into account validator’s laziness in judging whether it went well or otherwise as there isn’t much you can do about people depositing testnet eth, but not bothering with actually validating once time comes. The live launch with real eth should address that problem as then there would be real money at stake.
Spadina however had bugs so if new bugs are found or if there are serious infrastructure problems, then another dry run may be needed.
Otherwise, the genesis block of ethereum 2.0 would be ready to go with this launching a new Proof of Stake (PoS) blockchain that has some skeleton sharding in allocating validators who only validate Proof of Work blocks from current ethereum miners.
That will slightly increase inflation in the short term by 0.22% a year, but might effectively decrease circulating supply as eth2.0 depositors lock their eth into staking and therefore can not participate in price setting during that period.
Just how many will lock their eth is not clear with it probably the bare minimum at the very beginning because the two testnets that have run ethereum 2.0 have both experienced finalization issues.
That could repeat in the live network which would lead to slashing and a loss of eth, but both testnets then kept running fine after the initial finalization issues.
So most people would probably want to wait, but the reward at just 500,000 eth deposited is some 30% a year, which could be tempting for plenty.
Plenty have also been running the full testnet for months now, and those wanting to participate in the initial launch have had further practice with the first dry run and now will get more practice with the second dry run.
So some expertise might be developing, with the initial launch of ethereum 2.0 now being just weeks away.