The emission of Ethereum, the second most capitalized cryptocurrency, in two years can be reduced 10 times, reports Trustnodes.
Ethereum-developer Justin Drake outlined key timelines, stating the following:
“January 2020: the launch of Beacon Chain. June 2020: production stage of launching a lightweight client eth2. November 2020: fork # 1 eth1, designed to complete eth2 (according to a conservative forecast, emission reductions are not expected). March 2021: fork # 2 eth1 to reduce emissions by 10 times “.
Previously it was assumed that the reduction in the reward for the block from 2 ETH to 0.22 ETH (that is, almost 10 times) will occur after a complete rejection of the Proof-of-Work (PoW) consensus mechanism. However, the publication writes that the chances that this will happen already in 2021 are small, since a transitional period is needed to transfer smart contracts and other components to the Beacon chain with sharding support.
The launch of a full sharding is expected in 2021. However, after this, the ecosystem will need another few years to completely abandon PoW.
It is not excluded that next year a separate Ethereum chain will be launched, to which users will be able to send their ETH coins for staking. At the same time, the possibility of reverse transfer of coins to the PoW-chain at this stage is not yet provided.
Recall that at the end of June, Ethereum developers approved two changes to the code for the hardfork Istanbul.