Launch of Ethereum 2.0 confirmed for 1 December

With only nine hours remaining before maturity, 16,384 validators have deposited 524,288 ETHs in the deposit agreement for Ethereum 2.0.

The launch of the Beacon Chain of Ethereum 2.0 was confirmed on 1 December: 16,384 validators deposited 524,288 Ether in the deposit contract for ETH 2.0, active since 4 November.

Despite initial concerns over low staking, deposits increased significantly on the last day: over 200,000 ETHs were sent to the contract in the final 14 hours.

The launch of the ETH 2.0 Beacon Chain is now scheduled for 1 December: it will be launched seven days after the minimum threshold required by the contract has been reached.

The participants to the contract will not be able to withdraw the own coins until the attainment of the Phase 1.5, that will unite the current mainnet of Ethereum with the Bitcoin Method and the network “sharded” of ETH 2.0, whose implementation could demand years. For this reason, many holders of the cryptocurrency are waiting for the staking services of third parties that allow withdrawals at any time, with the risk however of potential exit-scams.

The deposit contract threshold has been reached approximately nine hours before expiry:

“We did it! Ethereum’s Proof of Stake chain will be launched on 1 December.

We have now reached the minimum necessary for the launch of the chain, if we also include transactions still in progress”.

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