Ethereum 2.0 Meets Staking Requirement, Launch Set for Dec. 1

Ethereum 2.0 Meets Staking Requirement, Launch Set for Dec. 1

By Abhimanyu Krishnan | News | 24 Nov 2020


Ethereum’s 2.0 deposit contract reached its threshold value for 524,288 ETH on Nov. 23, ensuring that the beacon chain will launch on the originally intended date of Dec 1.

  • Over 610,000 ETH has been deposited in the contract, which went live on Nov. 4; over 150,000 ETH was deposited in the last 24 hours
  • Ethereum 2.0 itself will not launch on Dec. 1 -- rather, it will be a beacon chain that runs alongside the current Ethereum network
  • The minimum staking value was reached just hours before the deadline for the Dec. 1 launch date
  • Messari founder Ryan Selkis said that he was always confident that the contract would receive the necessary contributions, and EthHub developer Eric Conner praised the milestone
  • Ethereum co-founder Vitalik Buterin, who made a $1.39 million contribution himself, assured investors that they could continue staking funds
  • Ethereum 2.0 will bring scalability, performance and governance changes to the network in a phased manner across the next few years; Vitalik Buterin recently offered more insight into the roadmap in a Reddit AMA

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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