[ad_1]
On December 1st, the initial phase of Ethereum 2.0 would be launched, as reported by the Ethereum Foundation. For this it will be necessary that 7 days before that date, at least 16,384 addresses have deposited 32 Ether (ETH) in the contract that will allow them to act as validators.
In the event that this amount is not reached by that date, Ethereum 2.0 will be activated 7 days after reaching this number. In any case, the launch is unlikely to be delayed since then the number of addresses with more than 32 ETH is greater than 125,000 and it is at its peak so far.
Furthermore, the ETH 2.0 test networks have already captured as validators a number much higher than the 16,384 that are necessary for the activation of the definitive network.
After hearing the news, the price of ether has suddenly increased. It went from USD 380 to a high of USD 407 in just over 2 hours; an increase of 7.1%. At the time of writing, its price is around 401 USD.
The trading volume also increased significantly. From $ 11.2 billion, it increased 30% to $ 14.65 billion.
To be an Ethereum 2.0 validator, therefore, $ 12,832 is required at the current price. But this will not be the only requirement, they will also have to run a validation node without interruption. If at any time the node disconnects, the user will lose part of his income and consequently if the number of ETH deposited in the contract falls below 32, that node cannot be reused as a validator.
The news was confirmed by the Ethereum Foundation in a recent blog post. They also indicate that, to facilitate the deposit of 32 ETH and avoid scams with contracts that pretend to be the real one, Ethereum Name Service (ENS) has already registered the domain depositcontract.eth, which will not require renewals until the year 2150.
The Ethereum 2.0 deposit agreement was originally written in Vyper language, subsequently rewritten in Solidity and finally verified by the company Runtime Verification. It is currently implemented in the red principal of Ethereum.
Ethereum 2.0 will coexist with the current version for a while
For Ethereum users nothing will change at the moment. Ethereum 2.0 will coexist with the current blockchain for a while, which works with the Proof of Work (PoW) protocol, until the final migration is complete and the entire network applies Proof of Stake (PoS). Justin Drake, researcher at the Ethereum Foundation clarified, to avoid confusion, that there is “a single ETH resource, no ETH1 or ETH2”.
It is expected that the final transition from phase 1 to phase 2 will take place in the next few years. For this, the entire Ethereum infrastructure must move to the new consensus system.
Several stages will pass until the development of Ethereum 2 will allow it to function permanently. The Ethereum Foundation sees this product as a very long-term development. Justin Drake, for example, is convinced that in the future a third version of this blockchain may even be needed to solve new problems that will arise.
[ad_2]
Source link
