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Ethereum 2.0 is slated to launch on December 1, after all, following concerns that the staking threshold required to set up the Beacon Chain, a provisional blockchain that will operate alongside the current network, would not be met.
A little over a week ago, it seemed unlikely that the threshold would be reached with the looming Ethereum 2.0 staking deadline. The threshold meant that 16,384 validators had to stake a minimum of 32 ether (the cryptocurrency behind the network), equivalent to approximately $ 14,800 at current market rates.
However, on November 24, Ethereum 2.0 researcher Justin Drake tweeted that the genesis time for the launch of the Beacon Chain had been set for December 1 at 12:00 UTC, confirming that the necessary ether had been deposited.
The second coming
All major Ethereum 2.0 implementations have agreed on the same precise code origins for the new blockchain. While having a genesis date set in stone is only the first step on the road to launching Ethereum 2.0, it is a major hurdle to overcome.
“I would say that we are comfortably halfway through the overall effort to be made [Ethereum 2.0] full functionality, “Drake told CoinDesk via direct message.” The research (which lasted years!) is largely done and the genesis of phase 0 is definitely a milestone in the implementation. Phase 0 lays the heavy foundation (signatures, merkleisation, networking, Eth 1 repositories, randomness, PoS, etc.). Many of the upcoming hard forks will layer relatively thin infrastructure on this foundation. “
The Ethereum 2.0 implementation process is lengthy and Drake does not expect the new cryptocurrency to officially launch until mid-2023. It may be worth the wait, however, with a number of improvements, particularly in terms of the number of transactions it carries. can handle.
Through CoinDesk
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