Ethereum Network ETH Contract 2.0 exceeded the threshold required to initiate the next upgrade. Currently, there are more than 694,368 Ether with a value of more than $ 422 million in contract, as developers hope to begin launching Proof of Stake on December 1.

On the first weekend of November, Ethereum Corporation The first process started From the much-anticipated Ethereum 2.0 (ETH 2.0) The specification upgrade, which details the initial rules for Formation stage 0. The configuration stage 1 node specifications indicated that approximately 524,288 would be required. ETH And at least 16,384 auditors to invoke Proof of Stake.

Requirements to start Ethereum 2.0 for December 1, stipulate that the minimum will be met by November 24, 2020. In addition, a web portal has been called launcher Posted so that users can see how to become ETH Checker and blockchain lock.

The requirements for the Phase 0 process of Formation have been formally completed on 24, and there are now 694,368 Ether with a value of $ 422 million in a necklace.

The title of the contract saw approximately 16,736 transactions with approximately 32 Ether per transaction. 32 ETH What is required to become an auditor and win a stake in the Ethereum chain. At the current exchange rate $ 608 for Ether, It costs nearly $ 20K per staking checker. The last roughly 25% of the ether needed to meet the minimum contract was deposited in under four hours.

Screenshot from an editorial entitled “The Genesis of the Lighthouse Series” written by Ben Eddington.

After the deposit milestone, a large number of Ethereum supporters and developers celebrated. “We have come to it,” He said Ethereum 2.0 R&D member Hsiao-Wei Wang. “Thanks to all the Eth2 teams and the community who wrote history. Thanks to Ethereum critics who made us stronger. Don’t forget to update your Eth2 client in two days.”

Also, “Eth 2.0 – Progress Meter Bot” chirp About this historic occasion, he mentioned:

We have taking off. Thanks to the developers, researchers, educators, and community members who made this happen. See you on December 1 @ noon UTC.

Many Ethereum supporters are also aware that the Ethereum 2.0 0 generation phase will initially begin with blockchain “beacon”Small step you make it so the upgrade will have less impact on the main network. The ETH The 2.0 upgrade will begin in seven days and the Beacon Series will begin the first phase of its four initial stages.

It is estimated that Ethereum 2.0 auditors can earn around 20% in annual bonuses. After the requirements are filled out, Tom Shawnsey, an Ethereum supporter He said That the launch of Ethereum 2.0 “garnered more attention in one hour than any other tier this whole year.”

Member of the Ethereum Hudson Jameson Foundation chirp About how the Ethereum 2.0 Beacon series was launched the day before, and what needs to happen in order to create a successful launch.

Jameson writes: “The lighthouse series marks the beginning of the transition to Eth 2.0, but that does not mean that everything changes immediately.” “Ethereum 2.0 is a multi-year process and the first few parts of this process will not significantly affect the existing Ethereum mainnet.”

Jameson also emphasized that whatever happens, the Ethereum community must be influenced by the Ethereum 2.0 development team. He also explained when he thought the release of the Bacon series would begin.

Jameson concluded, “My opinion (not an official position of Ethereum) is that we will launch between December 1st and December 5th.” “This is based on how quickly deposits arrive from the last 48 hours.”

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At the time of publication, Ethereum (ETH) It is trading at $ 608 per Ether, as the token has gained 26% in the past 7 days and 49% in the last 30 days.

What do you think of the highly anticipated Ethereum 2.0 launch? Let us know what you think about it in the comments section below.

The signs are in this story

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Image credits: Shutterstock, Pixabay, Wiki Commons, Ben Edgington Chart,

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