Home Coins Ethereum (ETH) Ethereum 2.0 deposit contract to launch this week: ConsenSys dev

Ethereum 2.0 deposit contract to launch this week: ConsenSys dev

- Advertisement -

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:

“As I understand it, we are good to go: deposit contract in the next few days; beacon chain genesis 6-8 weeks later.”

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:

“I think people are getting a bit bored of testnests. It’s time to move on […] we need to launch Phase 0 asap.”

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.”

Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
472FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,553FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.20
GBP
1.34
CHF
1.11
NOK
0.11
JPY
0.01
CAD
0.77
AUD
0.74

Most Popular

Blockchain Bites: Ethereum 2.0 Beacon Chain Ships, Libra Rebrands, ‘Bitcoin’ Google Searches Up

Ethereum 2.0 hit a major milestone as its “Beacon Chain” went live. Libra “seizes the day” and rebrands to Diem. Google searches for...

A proposal: Do nothing with Uniswap’s liquidity incentives

To recap: Uniswap’s initial liquidity mining rewards ran from September 18th to November 17th. 20 million UNI were distributed to liquidity providers for...
bitcoin
Bitcoin (BTC) $ 19,070.09
ethereum
Ethereum (ETH) $ 599.28
ripple
XRP (XRP) $ 0.626401
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 296.28
bitcoin-cash-sv
Bitcoin SV (BSV) $ 173.35
litecoin
Litecoin (LTC) $ 88.88
eos
EOS (EOS) $ 3.07
binancecoin
Binance Coin (BNB) $ 30.43
okb
OKB (OKB) $ 5.30
tezos
Tezos (XTZ) $ 2.43
leo-token
LEO Token (LEO) $ 1.37
cardano
Cardano (ADA) $ 0.158694
monero
Monero (XMR) $ 127.51
stellar
Stellar (XLM) $ 0.189151
chainlink
Chainlink (LINK) $ 13.79
huobi-token
Huobi Token (HT) $ 4.01
tron
TRON (TRX) $ 0.030749
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 108.74
neo
NEO (NEO) $ 17.89
iota
IOTA (MIOTA) $ 0.333938
nem
NEM (XEM) $ 0.183816
zcash
Zcash (ZEC) $ 78.04
maker
Maker (MKR) $ 541.31
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 6.26
vechain
VeChain (VET) $ 0.015191
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 4.55
kucoin-shares
KuCoin Shares (KCS) $ 0.821061
waves
Waves (WAVES) $ 6.84