ETH 2.0

The Ethereum community has been preparing itself ahead of the launch of ETH 2.0, with a record number of wallets now holding at least 32 ETH. Ethereum has managed to break into multiple new records, doing so just as news hit that ETH 2.0 could launch by the end of the year. ETH 2.0 is a long-planned upgrade to the Ethereum network, giving it the scalability and security it needs to serve all of humanity. The first stage of ETH 2.0 was called Phase 0 that will feature the launch of a beacon chain, the first building block of the new blockchain. ETH 2.0’s deposit contract is now live, the deposit contract is the first physical implementation of ETH 2.0 for everyday users. The deposit contract acts as a bridge between the forthcoming proof-of-stake blockchain and the current proof-of-work mainchain, valued at some $40 billion by market capitalization. Maintaining a high participation rate is crucial for the integrity of the network, as more than 66% of the stake must confirm blocks in order for the blockchain to be considered finalized, meaning that blocks can no longer be reversed. Validators will download and run ETH 2.0 client software. While running client software, they will be randomly selected to propose and attest to blocks on the Ethereum 2.0 blockchain. Validators who correctly propose and attest to blocks will receive a reward of ETH as a percentage of their stake.


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