Eth 2.0 Deposit Contract Secures Enough Funds to Launch
The smart contract required for triggering Ethereum 2.0 has enough funds to begin activation of its most ambitious upgrade yet.
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The deposit contract for Ethereum’s 2.0 upgrade now holds over 50k ETH – 10% of the threshold needed to activate the watershed update.
The first day of December is likely to be the launch date. Ethereum 2.0 Phase 0 has now been formalized for launch at some time around Dec. 1. The deposit contract is live and can collect the necessary funds to trigger staking.An update by the Ethereum Foundation released on Wednesday explains how the genesis process is expected to happen.Prospective stakers will now be able to deposit their 32 Ether (ETH) deposits to the contract via the dedicated launchpad and get ready for the launch.The contract must collect 16384 deposits of 32 ETH each, a total of 524,288 ETH or about $200 million,....
The smart contract required for triggering Ethereum 2.0 has nearly accrued enough funds to activate the momentous upgrade.
There's buzz that the Eth 2.0 deposit contract appears to have been deployed but there has been no official announcement. Excitement is stirring in the Ethereum community after the deposit contract was apparently posted on Github, however the lead developers are yet to officially confirm the deployment.Ethereum developers have warned in the past about the danger of fake deposit contracts, so users should not send any Ethereum to the contract until after an official announcement. The repository on Github was posted a few hours and appears to have been uploaded by Ethereum Foundation....
Ethereum’s beacon genesis event is set to take place on Dec 1, with the ETH 2.0 deposit contract reaching more than 94% of its target with just 12 hours to go. Update: The threshold was crossed just after 2.20am Universal Time on November 24. ETH 2.0’s Phase 0 launch looks all but certain for Dec. 1, with the number of Ether transferred to the ETH 2.0 deposit contract snowballing as today’s deadline approaches.As of this writing, nearly 499,000 of the 524,288 Ether required to secure the Dec. 1 beacon chain genesis has been deposited into ETH 2.0’s deposit contract, with 11 hours remaining....