Ethereum 2.0 launch scheduled for December 1 as deposit contract surpasses 524,288 ETH

The balance of the deposit contract, which enables transferring ETH from the current network to ETH2, confirming the authority of stakers, a week before the launch of phase zero превысил the required threshold of 524,288 ETH and 16,384 validators.

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As of writing, these parameters stood at 586,784 ETH and 18,333 validators, respectively.

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Data: Beaconscan.

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Just over seven days remain until the launch of phase zero.

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Data: Beaconscan.

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Camila Russo, founder of Defiant, highlighted the event. She shared her upbeat expectations about moving to the Proof-of-Stake consensus algorithm with staking.

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Eth devs have been saying proof-of-stake is the future almost since Ethereum launched.

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🚀 and now it’s finally happening.

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ETH2, 2020 pic.twitter.com/PMbSPhYNbr

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— Camila Russo (@CamiRusso) November 24, 2020

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What is staking and how can you earn from it?

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Over the weekend the balance of the deposit contract surpassed 50% of the required amount. On the eve, November 23, users sent 153,088 ETH. The remaining coins to reach the cap were deposited on the morning of November 24.

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Data: Dune Analytics.

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At the time of writing, Ethereum price is testing support at $600, up 5.2% over 24 hours. On Monday, November 23, quotes reached this level for the first time since June 2018. Over the last seven days the asset has risen by 32% (according to CoinGecko).

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Earlier, Vitalik Buterin revealed the advantages of participating in early Ethereum 2.0 staking.

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What is Ethereum 2.0?

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