Ethereum 2.0 Launch can start: Starting signal for a new era!
Ethereum (ETH) Mining will soon no longer be necessary: The Ethereum block chain switches from PoW to PoS and thus no longer needs miners to verify blocks. The picture shows an Ethereum coin on a circuit board.
The Ethereum 2.0 launch can start as planned! A few days ago we reported about the lack of interest of many investors. In the first days after the official start of the Bitcoin Superstar deposit contracts for the Beacon Chain, only fractions were deposited at ETH. However, the tide has now turned and it is clear that Ethereum 2.0 can start on December 01, 2020.
Ethereum 2.0 Launch: Start on 01 December
The beginning of a paradigm shift of Ethereum begins. The minimum amount of ETH for the activation of the first phase of Ethereum 2.0 has now been deposited in the Deposit Contract in due time. This is the starting signal for a new economic model of Ethereum.
The Ethereum 2.0 Deposit Contract was officially launched at the beginning of November. While demand was low at the beginning, we can now see that the necessary amount of 540,000 ETH has been deposited. With this, the Beacon Chain Launch is ready for launch and can start on December 1st.
Officially, the change from a proof-of-work consensus mechanism to a proof-of-stake consensus mechanism is now starting.
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November 24th is considered the cut-off date, as a 7-day delay has been programmed between the achievement of the minimum sum at ETH and the launch of the Beacon Chain.
In this respect, investors were curious to see whether Ethereum 2.0 would be launched on the planned launch date or whether it would be delayed.
It was unclear until the end whether the amount would be reached. As the following graphic from DuneAnalytics shows, the deposit of Ethereum Whales has become the decisive criterion.