Crypto community is watching out the Ethereum 2.0 progress.
Quite curiously given that it is slated for its much anticipated 2.0 launch soon after facing several roadblocks.
Ethereum 2.0 Launch Confirmed as Deposits Spike
The Ethereum Beacon chain genesis confirmed for the December 1 launch after more than 524288 Ethereum tokens from over 16000 validators were transferred into the Ethereum deposit contract. The Ethereum system launched the contract on November 4. Earlier this week, the deposits were not likely to reach the target. There was meager participation from the investors; however, as the transfer spiked tremendously in the past few hours, the launch seemed possible as the day passed.
More than 200000 ETHS were sent to the contract in the last 12-14 hours, pacing up the chances of the launch.
Ethereum community is exhilarated with the confirmation of the 2.0 Beacon chain Genesis, which would happen on its slated Launch date. With 11 days to go from now, the Ethereum launch would see a massive following. The Ethereum 2.0 launch has seen several hitches since its announcement; however, it would most likely see the daylight with the launch being confirmed after the depositor’s contract target has been met.
After several hitches the Eth 2.0 is finally confirmed., earlier the Spadina testnet was unsuccessful due to low participation, while it was the Zinken test net that created many positive avenues for the 2.0 mainnet launch. Dune Analytics reported that the Ethereum community by now had deposited more than 611 520 Ethereum coins, which are worth 377 Million USD, surpassing the threshold by 17 percent.
Deposits Spiked In Last Few Hours of Threshhold
The deadline was met earlier than the target as more and more depositors transferred ETH tokens to the contract, and the deposits escalated with a jet speed within the last few hours.
The users would not take out their coins from Eth 2.0 until it launched Phase 1.5 after the mainnet on the 2.0 beacon chain is amalgamated with the sharded environment. Several exit scams are likely which allow the holders to withdraw their coins. Several third parties may also bring a program to enable staking services to take out the cash from the 2.0.
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