- Ethereum 2.0 deposit contract address was revealed and validators can now send Eth to the contract.
- Ethereum 2.0 will be launched on December 1 given that the required number of validators has been reached.
- Genesis would kickstart Phase 0 while Phase 1 and 2 will take place over the next few years.
The Ethereum Foundation has finally revealed the launch date for Ethereum 2.0, and it is just around the corner.
The first version of the Ethereum 2.0 (Eth2) is set to launch on December 1, given that there are at least 16,384 validator deposits on the network a week before the launch date.
The Ethereum Foundation revealed the specifications for the v1.0 of Eth2 as well as the mainnet deposit contract address.
Ethereum 2.0 to launch in December
According to the blog post, the network would require at least 16,384 32-ETH validator deposits a week before the December 1 deadline. If there are fewer deposits, genesis will be triggered seven days after the target has been met, whenever that may be.
As mentioned earlier, the blog post also reveals the deposit contract address for the mainnet, which allows the community to ready their assets for the launch of the beacon chain. As Cryptopolitan previously reported, Danny Ryan previously stated that the deposit contract was under audit and was the last thing between us and an official launch date.
Deposits have already begun, according to the official launchpad site, and 4,677 Ether (around $1.88 million) have already been deposited. The contract needs at least 524,288 ETH from the 16,384 validators to proceed with the launch.
Ethereum 2.0 roadmap
The recent blog post is the first time any official date has been announced for the launch of Ethereum 2.0. While the network has been in development for quite a while, certain delays kept it from being launch on schedule. Regardless, the project is yet to miss any launch dates.
If things proceed as expected, then December 1 would kickstart Phase 0 of the Eth2 network. The Phase 1 and Phase 2 transitions are expected to take place in the next few years and will shift the economic ecosystem of the existing Ethereum network to the new proof-of-stake (PoS) network.