Ethereum 2.0 Deposit Contract Release Kicked Back Until November
Researchers are waiting on a final audit of a critical crypto library before releasing the deposit contract, Ethereum Foundation researcher Danny Ryan said.
The Ethereum 2.0 deposit contract is a few weeks away at least, according to Ethereum Foundation researcher Danny Ryan.
Speaking Thursday on the Bankless podcast, Ryan said the deposit contract won’t go live until it receives a thumbs up on an audit of a critical crypto library, BLST, performed by cryptography audit firm NCC Group.
“This library is critical to creating keys, signing messages. Critical, in early phases, [means] that if you use this library, they need to be secure; if you use it to generate your wallets, it needs to have good randomness; and if you are signing your deposits which have a signature associated, it needs to be correct,” Ryan said.
“Given that how critical this library is, and given that, if there is a fundamental error in this library we could f*ck some sh*t up in terms of genesis deposits, that is the blocker,” he said.
Ethereum 2.0 core researchers are now expecting the deposit contract – a one-way Ethereum smart contract that holds staked ether (ETH) necessary for securing the new Proof-of-Stake (PoS) network – to be released in early to mid-November pending the audit’s findings, Ryan said.
Ryan said researchers are still eyeing 2020 for the genesis block of the Beacon chain.
The new date comes after multiple client teams who spoke with CoinDesk signaled expectations for an October release of the deposit contract.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.