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The genesis of the ETH 2.0 beacon chain has been confirmed for December 1, following the transfer of 524,288 Ether from 16,384 validators into the ETH 2.0 depository agreement since it went live on November 4.
Despite early worries about low stake participation, transfers to the deposit contract increased rapidly over the past day – over 200,000 ETH were sent to the contract in the past 14 hours.
The genesis of the ETH 2.0 beacon chain is now expected to take place on the earliest possible launch date of December 1, with genesis occurring seven days after the required deposit contract threshold.
Every Etherean right now pic.twitter.com/ACqF7laFfG
– Anthony Sassano | sassal.eth (@ sassal0x) November 24, 2020
While Genesis participants will not be able to withdraw their coins until ETH 2.0 reaches Phase 1.5 – which will merge the Ethereum mainnet with ETH 2.0’s beacon chain and fragmented environment – many hodlers are waiting for third parties to launch activated staking services for withdrawal. , despite the potential risk of exit scams.
The deposit contract threshold was reached with approximately nine hours before the deadline.
We did it! Ethereum’s proof of stake chain will launch on December 1.
%. We have now reached the minimum necessary to launch the chain, including pending transactions pic.twitter.com/kPGNX6qqk6
– Evan Van Ness (@evan_van_ness) November 24, 2020
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