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Home Latest News Ethereum The Ethereum 2.0 launch won’t happen on December 1st unless $130m is...

The Ethereum 2.0 launch won’t happen on December 1st unless $130m is deposited

Today, it will be determined whether or not ETH 2.0 will be released by the specified date of December 1st.

ETH2 is set to start on Ethereum 1.0 as a chain first. This means that two specific ecosystems are in existence (currently). A threshold of just over 500,000 ETH has to be deposited into an Ethereum 1.0 contract to validate community support in order for ETH2 to be launched.
The time limit is today to hit the mark. ETH2 will begin on December 1st if the threshold is met.

So far the ETH2 deposit smart contract has deposited approximately 60 percent of all the Ethereum needed to begin the upgrade on time. The 524,288 ETH needed, worth 130 million dollars of inflows into the address, is only about 24 hours left to enter. On the sidelines, there seem to be some whales planning for further deposits if required.
One blockchain expert has discovered that a significant part of ETH2 deposits comes from one multi-addressed party which is assumed to be ConsenSys, Vitalik Buterin, Joe Lubin or someone else in the community. In fact, though, there are some skeptics. An upgrading PolyMarket business has a majority of the money (66 percent) saying that on December 1st, ETH2 will not take place.

Danny Ryan from the Ethereum Foundation indicated that the benefits for early validators would be incredibly high, which would of course increase the propensity to deposit from the lateral ones. He added that Ethereum 2.0 developers would like to start changing the threshold only “if needed be” from early January.
This was a sentiment agreed on by others, as there appears to be no massive concern in immediately rushing the upgrade, lest something happen.

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