The highly anticipated security and scalability upgrade to the Ethereum network launched as planned on Dec. 1, marking a huge milestone for the Ethereum community. On the surface, the Eth2 Beacon Chain will help ensure an increase in scalability and capacity across the Ethereum network. However, the initial launch of the Beacon Chain signifies much more than promised network benefits, and could potentially drive enterprise blockchain adoption even further.
Corey Petty, chief security lead at Status — a globally distributed collective working to build products, tools and infrastructure for Eth2 clients — told Cointelegraph that Phase 0 of the launch of the Beacon Chain represents a significant milestone because many core building blocks such as networking and a proof-of-stake consensus will now be rolled out: