The launch of Ethereum 2.0, the new version of the ethereum protocol with support for the Proof-of-Stake consensus mechanism, is scheduled for January 3, 2020, Trustnodes reported citing a statement by ETH 2.0 researcher Justin Drake.

Exactly on that day, it will be 11 years since the genesis block of bitcoin was mined.

ETH developers plan to approve the specifications of the zero phase of ETH 2.0 on June 30.

Before the network goes live, developers must launch the deposit contract, which is necessary to allow validators to make deposits.

ETH developers expect deposits to reach as much as 2 million ethers. The deposit contract will probably be released at the Devcon conference held on October 8-10 in Japan.

Vitalik Butterin, the founder of the protocol of the second largest cryptocurrency by market cap, has said the launch of the new version of the protocol should follow the same steps as the original one, meaning the launch of the testnet will be followed by a thorough bugs and security analysis.