Ethereum 2.0 reaches 10% of the minimum ETH required to start the beacon chain, 90% short?
Five days after Ethereum 2.0’s deposit contract went live, a total of 57,633 ETH has been deposited, accounting for more than 10% of the threshold of 524,288 ETH, worth about $240 million, which is the stage 0 (beacon chain) launched on December 1 required prerequisites.
As the next generation of Ethereum, ETH 2.0 is a multi-year plan that willImproving Limitations of Proof-of-Work (PoS) Consensus Without Compromising Decentralization。
In the official update, Danny Ryan, the main developer of ETH 2.0, also announced the Eth2 Launch Pad launched by Mainnet, which will guide investors to gradually become validators.
Since the announcement, addresses with more than 32 ETH have grown month-on-month (MoM) by 5%, while the supply of ETH to smart contracts has decreased significantly.
The number of pledged ETH is rising rapidly,But the network still needs 471679 ETH out of 16384 validators, each validator requires at least 32 ETH.
Ethereum co-founder Vitalik Buterin deposited 3,200 ETH worth 1 million into the contract shortly after launch.ETH 2.0 requires validators who are incentivized with high rewards to ensure and help the network reach consensus.
The advantage of early bird trading on ETH 2.0 is that its annual percentage yield (APY) has a relatively generous return. With the smallest stake count, validators will earn roughly 36% APY, 18% APY on 1 million ETH staked, and 10.2% APY on 2.5 million ETH staked.
Following the announcement, the price of Ethereum set multiple records,Analysts predict that Ethereum may break the expected $500 and go as high as $800. ETH is currently up 2.97% at $464.
Cryptocurrency trader and technical analyst Rekt Capital said, "ETH is asking for support at $433, and ETH/USD is preparing to break out of this funding channel.Once fully confirmed, ETH will rally to find new avenues for money to flow。”
The launch of the deposit contract marks the official migration process from ETH 1.0 to ETH 2.0. Of course, each deployment also depends on many factors. The transition will be divided into at least four phases: Phase 0, Phase 1, Phase 1.5 and Phase 2 will last until 2021.
The roadmap indicates that Phase 2 is still in the research phase, and even the launch of Phase 0 will depend on how many validators are active on the network by the expected launch date.
Danny Ryan wrote: "For the trigger to happen at this point,There must be at least 16384 32-ETH validator deposits 7 days before December 1st.The original text comes from zycrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
The original text comes from zycrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
