Ethereum 2.0 Deposit Threshold Met: Proof-of-Stake ‘Beacon’ Chain Starts in 7...

Ethereum 2.0 Deposit Threshold Met: Proof-of-Stake ‘Beacon’ Chain Starts in 7...

The Ethereum network’s ETH 2.0 contract has crossed the threshold needed to initiate the upcoming upgrade. Currently, there’s more 694,368 ether worth over $422 million resting in the contract, as developers hope the proof-of-stake launch will begin on December 1. At the end of the first week of November, the Ethereum Foundation initiated the first process of the highly anticipated Ethereum 2.0 (ETH 2.0) upgrade specifications, which detailed the initial rules of the genesis phase 0. The genesis phase 0 contract specification noted that there needed to be approximately 524,288....


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Two more weeks before launch is delayed, but progress has slowed down lately. The deposit contract for Ethereum 2.0 now holds 50,849 Ether (ETH), worth approximately $22 million as of press time.This is slightly less than 10% of the minimum required stake of 524,288 ETH, or $230 million. Ethereum 2.0 is set to launch on Dec. 1 — but only if the minimum stake threshold is reached seven days before that date.Historic balance for the deposit contract by Etherscan.The influx of new deposits appears to have tapered off recently as the majority of prospective stakers joined within the first....