Developers officially open ETH 2.0 deposit contract for stakers.
In the first 12 hours, users blocked more than 14,000 ETH in contracts.
ETH rate reacted to this news with growth.
International consortium of news organizations developing transparency standards.
Ethereum Developers Officially Launched ETH 2.0 Smart Deposit Contract, Laying The Foundation For A Soon Transition To The New Ethereum Protocol.
After months of testing – with varying degrees of success – various testnets, the ETH 2.0 developers seem poised to give an exact date for the long-awaited transition of the Ethereum blockchain from PoW to PoS. The basis for this was laid by the official launch of the ETH 2.0 smart deposit contract, which took place on November 4.
The countdown has begun?
The launched contract makes it possible to send ETH from the current network to Ethereum 2.0. Now every ETH holder wishing to participate in staking can become a validator of a new blockchain. To do this, he just needs to block 32 ETH by sending them to the address open for accepting deposits.
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To launch the zero phase of the Beacon Chain, a key component of the new protocol, the project needs to recruit 16,384 validators. In total, they should block 524,288 ETH on the network, which at current prices is equivalent to about $ 210 million.
It seems that immediately after the announcement of this news, whales joined the queue, blocking funds in ETH 2.0 in the amount of about $ 1,000,000 in half an hour.
$ 1,000,000 locked in $ ETH 2.0 in 30 minutes …
Just remember for anyone staking, one way bridge.
I have sent across 32 ETH &# 128578;
– Cactus (@TheCryptoCactus) November 4, 2020
ETHEREUM 2.0 LAUNCHES NOW: THIS IS HUGE!!!
According to Ethereum 2.0 Launchpad, over 14,000 ETH was transferred to the contract in the first 12 hours.
This amount is expected to be fully raised by December 1, 2020. However, the developers stipulate that the required amount of funds must be collected no later than a week before the expected date. Otherwise, the launch of the Beacon Chain genesis block will be postponed again..
Ethereum’s proof of stake launch ("eth2") scheduled for Dec 1
– Evan Van Ness (@evan_van_ness) November 4, 2020
Is the game worth the candle?
Ardent Ethereum supporters have responded with enthusiasm to the news of staking. Recently, the developers of ETH 2.0 themselves have actively started talking about the need to finish testing and move on to real products. In their opinion, this would help bring real value to the network and attract more validators..
However, skeptics questioned whether there was a lot of sense in actively blocking funds in ETH 2.0. They fear that this could be economically disadvantageous, as users will have to say goodbye to their money for a very long time. According to the developers, the transferred coins will be blocked until withdrawals are possible in phase 2 (after about two years).
In addition, during this time, the profitability of deposits can quickly decline, as the total amount of ETH blocked on the network will grow.
Ethereum ETH 2.0 Launch Date for Testnet | Validator Node Setup & Profitability
However, this does not scare off true enthusiasts who continue to believe that the Ethereum blockchain really is a completely independent financial ecosystem offering unique value..
Eth2 launches December 1st 2020.
ETH staking will begin.
This is the initial bond offering for the largest non-sovereign global economy the world has ever seen.
No longer a commodity.
No longer a money.
ETH becomes a capital asset too.
ETH is a triple-point asset.
– Ryan Sean Adams – rsa.eth (@RyanSAdams) November 4, 2020
Meanwhile, the ETH rate itself reacted to this news with decent growth. Yesterday the price broke through the psychological level of $ 400, and today it continued to move highs. However, it is not worth waiting for dizzying growth until the actual launch of the zero phase of the updated version of the Ethereum network is announced..
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