Vitalik Buterin sends $1.4M to prepare launch of Ethereum 2.0
3200 ETH have been transferred from the wallet of Vitalik Buterin, co-founder of Ethereum 2.0. Buterin hopes to launch the update on 1 December. To date, 39 141 ETH worth $17.2 million have been blocked in the Ethereum 2.0 deposit contract. Buterin stated that interest in the deposit contract will continue to grow. He explained that stakers are taking their coins out of cold storage, studying the performance of instruments and seeing that their ETH are not “thrown out”.
The launch of Phase Zero is scheduled for 1 December, if by that time the deposit contract contains 524 288 ETH and the network has at least 16 384 validators. Overall, Buterin believes that this objective is feasible and the conditions required to launch the upgrade will be met by 1 December.
When comparing the situation with the sale of ETH in 2015, the first day did not have a high level of user engagement and this trend continued until 12 days. However, on days 13 and 14, almost half of all ETH were sold out. Buterin therefore assumed that in the case of ETH 2.0 there would first be a period of quietness, and then participants would be active in the last week of November.
In order to bring ETHs for stacking on Ethereum 2.0, you need to use a lunchpad rather than sending them directly to a deposit contract to avoid unsuccessful transactions. The deposit contract allows the validators to join the Beacon Chain signal chain by sending ETHs from Ethereum 1.0 to Ethereum 2.0. This was another step towards the launch of the zero update phase.
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