ETH 2.0 sealed for Dec.1 launch only hours before deadline. The Ethereum’s deposit contract met its threshold of 524,288 Ether — locking ETH 2.0’s beacon chain genesis for Dec. 1 with only nine hours remaining.
ETH 2.0’s beacon chain genesis is confirmed for Dec. 1, after the transfer of 524,288 Ether from 16,384 validators into the ETH 2.0 deposit contract since it went live on Nov. 4.
Facing early concerns stemming from low stakes, transactions to the deposit contract have risen steadily over the past day—more than 200,000 ETHs have been sent to the contract in the past 14 hours. With that, the ETH 2.0’s beacon chain genesis launch date is set to Dec 1 with genesis taking place seven days after the required deposit contract’s threshold was met.
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 sharded environment — many hodlers are waiting for third-parties to launch withdrawal-enabled staking services, despite the potential risk of exit scams. The deposit contract’s threshold was met with roughly nine hours to go until its deadline.
[image: Nick Chong]