Home » Get ready for ETH 2.0 on December 1st

Get ready for ETH 2.0 on December 1st

by Brian Armstrong
Eth 2.0

After much wait and months of anticipation, the Ethereum Foundation has officially announced the deposit contract date for phase 0 of ETH2.

It has addressed the genesis event of the Beacon chain mainnet update yesterday and if all conditions are met, phase 0 will be launched on December 1.

The ETH2 phase 0 might be a reality soon

The entire crypto world has been waiting for the rollout of ETH version 2 and now there has been some major development on that side. As per Danny Ryan, one of the lead developers of the project has cleared that phase 0 of the project will be launched on December 1, 2020, 12 PM UTC if it clears a host of conditions that have to be met before the launch. After the due diligence, slot zero of the span era or epoch will begin. 

The network is aiming for a superior launch of its second version, which is why it will be rolled out in different phases. Out of the three phases, Beacon chain mainnet is the first. Once the benchmark limit of a minimum of 16,384 32-ETH validators becomes a part a week before December 1, it will be an eligible launch. If that does not happen then the launch will get delayed by another week till it fulfills all the launch conditions. 

The active players on the ETH2 side, Pre-genesis, will be the beacon nodes which will be responsible for maintaining the state of the network and ensuring if the 32 ETH deposits go to the right addresses. Once the genesis is activated, it will result in the actuation of the validators. Once the official launchpad is live on the mainnet, the interested validators can begin generating deposit keys. 

Fake addresses are a dampener

All that keeping in mind, it is important that the validators also keep a procedure for due diligence. This means that the interested validators should ensure multiple checks are done to see if the ETH2 Beacon Chain mainnet deposit addresses needed for staking are right. All the guards should be up considering early warnings of fake addresses being generated by agents in an attempt to scam the participants. Before this, a deposit contract tool was activated on the mainnet and the details are given on Github. Ethereum foundation and its founder, has not commented even though the upload was from Carl Beekhuizen’s account. 

Later deliberations and discussions indicate that a plausible compromise is on the cards which could be an indication that the team was prepping up for the final confirmation and official announcement. Once this is done successfully the team can look at the development of the next phase. 


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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