Evan You has announced the release of Vue 3 in 2018. It is expected to release in Q2 2020. Yet now Vue 3 is not released. Developers all over the world are eagerly waiting for the release of Vue 3 because of the new features. It will be faster, smaller, and more maintainable, it will make the applications easier to target native. The beta version of Vue 3 is available to download. Most exciting change is a new API which allows a function-based way of writing your component. This is inspired from React Hooks. This will help to form a better logic composition, more efficient TypeScript support, it is also compatible with 2.x API. We can encapsulate logic into composition functions and use the same logic in any components. Native portals are now called Teleport. Other features are fragments i.e. virtual elements that won’t be rendered in the DOM tree, Global mounting, Conditional suspending of component rendering. 

Faster-The virtual DOM implementation re-written entirely which makes mounting and patching 100 % faster. To reduce runtime overhead more compile-time hints are added. Component instance initialization is faster in Vue 3. Using native Proxy there is faster instance property proxying.

Smaller- Vue 3 has built-in components like keep-alive, transition and template directive runtime helpers like v-model, v-for which makes it very friendly to users. Utility functions also play a good role in making it user friendly. 

Maintainable- It supports more efficient usage of TypeScript. In Vue 3 packages are decoupled. The compiler is rewritten so now it has a pluggable architecture, Parser with location info, compiler serves as infrastructure for more robust IDE support.