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ConsenSys developer Ben Edgington has published an update that predicts the ETH 2.0 beacon chain genesis will happen within the next six to eight weeks. In a post announcing the launch of ‘V1.0.0 release candidate 0’, Edgington revealed the protocol’s deposit contract address feature should be announced this week. The deposit contract allows ETH to be sent between Ethereum and ETH 2.0, and is one of the few remaining updates needed to facilitate the roll-out of ETH 2.0 phase 0:However, the PegaSys engineering group developer emphasized his prediction “is not an official statement.”To complete phase 0’s launch, 500,000 Ether will need to be locked for staking after the beacon chain goes live, followed by a week-long genesis delay to give the network time to prepare. According to Edgington, the new release also strengthens Ethereum against denial-of-service attacks, implements the genesis delay and a temporary quadrupling of penalty fees. Penalties were increased in response to the “slightly bumpy” genesis “dress rehearsal” on the Spadina test network at the end of September, and what is now “very low participation” on the Medalla testnet. The developer described the fee hike as “a temporary measure to give stakers more confidence in case we hit trouble.” Despite low testnet participation, Edgington firmly believes the network is ready to transition into phase 0:Edgington’s post comes after a successful trial on the Zinken testnet last week, which Set Protocol’s Anthony Sassano described as the “second last dress rehearsal testnet before we finally set an ETH 2 phase 0 mainnet launch date.”
All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/ethereum-2-0-deposit-contract-to-launch-this-week-consensys-dev
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Ethereum could see price surge to $5,000 and even $10,000 in the next Crypto parabolic bull run. Eth is getting adoption by companies such as Microsoft, Amazon, EY and more. With the ConsenSys acquisition of JP Morgan’s Quorum blockchain it positions Ethereum to be used by major Banks.
BitGo Applies to Be Regulated Custodian in New York State and Binance.US Expands Into Florida.
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Disclaimer – Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice.
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