The Ethereum 2.0 Deposit Agreement increased the minimum amount of funds needed to launch the update on December 1st. According to blockchain data, the contract contains 628,064 ETH at the time of going to press.
Therefore, the Phase 0 update, which will allow the world’s second largest crypto by market cap to move from proof of work to proof of participation consensus mechanism, will begin next week. The Ethereum Foundation has established as a condition for the launch that by November 24, future stakers must deposit at least 524,288 ETH. The figure was reached a few hours before the deadline. The volume of daily deposits exceeded 150,000 ETH, while the last 25% was deposited in just four hours.
The full proof-of-stake launch on Ethereum 2.0 will take time and the initial stages of Ethereum 2.0 distribution will not affect crypto users in any way. The main participants in phase 0 are the stakers, who are rewarded for processing transactions and creating new blocks. To become a validation node in Ethereum 2.0, users need to deposit 32 ETH.
At the same time, the price of Ethereum is rising. Over the past week, it has seen a 31% increase and as of press time the cryptocurrency price is $ 610.
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