Eth2’s beacon chain genesis has been confirmed for Dec. 1 following the transfer of 524,288 Ether (ETH) from 16,384 validators into the Eth2 deposit contract since it went live on Nov. 4. Despite early concerns stemming from low staking participation, transfers to the deposit contract rapidly increased over the past day, with more than 200,000 ETH sent to the contract in the past 14 hours. Ethereum 2.0’s beacon chain genesis is now set to take place on the earliest possible launch date of Dec. 1, with genesis taking place seven days after the required deposit contract’s threshold was met. Every …

This deposit contract is the first step that would eventually lead to the launch of Ethereum 2.0. If to consider that the launch will go down successfully, Ethereum will ship the Beacon Chain and introduce proof-of-stake to the ecosystem, which is currently based on the proof-of-work, another consensus algorithm that is based on mining. Shard chains would be the next upgrade to follow Beacon Chain. Ultimately, the eventual launch of Ethereum 2.0 will have an effect on the decentralized finance market. In 2020, the DeFi sector has grown significantly but has already experienced a slight cooldown. Due to this, there …

Crypto service provider Bitcoin Suisse expects to offer its Ethererum staking services before Christmas, underscoring the firm’s expectations of an imminent launch of Ethereum 2.0. In a statement released Wednesday via Trustnodes, Bitcoin Suisse said: “The deposit contract for Ethereum 2 is now live. This means that the new version of the second biggest protocol by market cap will most likely become a reality before Christmas.” The firm intends to offer the staking service from the first day that Ethereum 2.0 is live: “This is one of the most significant milestones in crypto this year and we will be ready …

On Nov. 4, Ethereum (ETH) core developers hit a significant milestone. In a “quick update” on the Ethereum Foundation blog, developer Danny Ryan confirmed the release of the v1.0 specs for the hotly anticipated Ethereum 2.0 upgrade, which includes the mainnet deposit contract address. Anyone who wants to participate as a validator on the Ethereum 2.0 mainnet can now start depositing their minimum stake of 32 ETH. The initial results looked promising, with 14,000 ETH (worth around $5 million) staked in the first eight hours alone. However, the developers have set a minimum total stake of 524,288 ETH from 16,384 …

A Web3 infrastructure provider has launched a cutting-edge solution for some of the biggest issues and challenges associated with the long-awaited launch of Ethereum 2.0. Ankr aims to make the deployment of blockchain nodes easy, accessible, affordable and instantaneous — with a decentralized staking infrastructure that’s designed to lower barriers to entry for developers, enterprises and everyday crypto enthusiasts. At present, someone can only become a validator on ETH 2.0 if they have 32 ETH to stake. Given how this crypto was worth over $14,000 at the time of writing, it’s fair to say that this requirement could shut out …

As the launch date of Ethereum 2.0 approaches, an important issue in the staking mechanism is starting to be discussed in the community: the one-way nature of stake deposits. Prospective stakers in Ethereum 2.0 Phase 0 will not be able to withdraw or transfer their stake until after the rollout of Phase 1, which could take years. Ahead of this difficult choice, Darma Capital is one of several companies planning to offer intermediated staking that would let users have access to their capital. Through its LiquidStake initiative, both retail and institutional stakers can delegate their capital and maintain the ability …

CoinDCX, one of the largest cryptocurrency exchanges in India, is preparing its platform to support ETH 2.0 staking in anticipation of the Ethereum 2.0 launch. As the first phase of Ethereum 2.0 is expected to come online on Dec. 1, CoinDCX is now “all set” to introduce ETH 2.0 staking for the global crypto community, the exchange’s executives announced on Nov. 10. According to the announcement, CoinDCX’s smart contract-based solution will enable users to stake with 32 Ether (ETH) — the minimum amount required to participate in ETH 2.0 staking. Neeraj Khandelwal, co-founder CoinDCX told Cointelegraph that the contract will …

The deposit contract for Ethereum 2.0 now holds 50,849 Ether (ETH), worth approximately $22 million as of publication time. This is slightly less than 10% of the minimum required stake of 524,288 ETH, or $230 million. Ethereum 2.0 is set to launch on Dec. 1 — but only if the minimum stake threshold is reached seven days before that date. The influx of new deposits appears to have tapered off recently as the majority of prospective stakers joined within the first three days of launch. Ethereum 2.0 stakers must go through a dedicated launchpad to register validators with a 32 …

The price of Bitcoin (BTC) is nearing $16,000 after achieving $15,960 on Binance. Following the dominant cryptocurrency's rally, analysts are now looking toward Ether (ETH). The Ethereum blockchain's native token has seen heightened momentum in the past week. After underperforming against BTC in October, the probability of a new ETH rally is beginning to increase. There are two key reasons why analysts expect Ether to perform strongly in the near term. First, the capital in the Bitcoin market could move into ETH following the announcement of Ethereum 2.0. Second, ETH recently tested a critical resistance level, raising the chances of …

Ether (ETH) has hit multiple records amid news that Ethereum 2.0 could launch as early as Dec. 1, according to crypto analytics firm Glassnode. Today’s launch of the deposit contract introduced the ability for users to deposit 32 Ether required to participate in staking. ETH 2.0’s beacon chain genesis will take place on Dec. 1 if at least 16,384 deposits of 32 ETH each are received. That’s a total of 524,288 ETH, worth about $200 million. Hours after the news was published, the number of Ethereum addresses holding at least 32 Ether hit an all-time high of 126,852. Prior to …

The long-awaited deposit contract for Ethereum 2.0 has finally been deployed, opening the doors to staking opportunities for ETH holders. Deposits began in earnest, with over $1 million in ETH landing in the contract within the first half hour, according to observer The Crypto Cactus. “$1,000,000 locked in $ETH 2.0 in 30 minutes … Just remember for anyone staking, one way bridge. I have sent across 32 ETH.” At the time of writing, around eight hours after the official announcement, just over 14,000 ETH has been staked, according to the ETH 2 Launchpad. At today’s prices, that equates to roughly …

Ethereum 2.0 Phase 0 has now been formalized for launch at some time around Dec. 1. The deposit contract is live and can collect the necessary funds to trigger staking. An update by the Ethereum Foundation released on Wednesday explains how the genesis process is expected to happen. Prospective stakers will now be able to deposit their 32 Ether (ETH) deposits to the contract via the dedicated launchpad and get ready for the launch. The contract must collect 16384 deposits of 32 ETH each, a total of 524,288 ETH or about $200 million, to proceed with the launch. The required …