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Ethereum 2.0 Launch Will Take Place on December 1 | News

The Ethereum 2.0 deposit contract has raised the minimum amount of funds needed to launch the upgrade on December 1. According to the blockchain data, the contract contains 628,064 ETHs at press time.

Therefore, the phase 0 upgrade, which will allow the world’s second largest crypto by market cap to move from the proof-of-work to the proof-of-stake consensus mechanism, starts next week. The Ethereum Foundation set as a condition for the launch that by November 24, future stakers must deposit at least 524,288 ETHs. The figure has been reached just a few hours before the deadline. The volume of daily deposits has exceeded 150,000 ETHs, while the last 25% was deposited in just four hours.

The full launch of the proof-of-stake on the Ethereum 2.0 will take time, and the initial stages of the Ethereum 2.0 deployment will not affect crypto users in any way. The main participants in phase 0 are stakers, who are rewarded for processing transactions and creating new blocks. In order to become a validator node in the Ethereum 2.0, users must deposit 32 ETHs.

At the same time, the price of Ethereum is rising. Over the last week, it has posted an increase of 31% and at press time the price of the crypto is $610.

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