Ethereum 2.0 Has Enough Staked ETH to Launch

As recently as this morning, there were concerns that Ethereum 2.0, the proof-of-stake sequel to Ethereum’s current proof-of-work blockchain, would not hit its December 1 launch target.

So much for that.

For the launch of Ethereum 2.0, at least 16,384 validators were required to set a combined ETH of 524,288 by November 24th. After sitting at around 50% of that target less than 24 hours ago, the network has outperformed the network today.

“Genesis deposits will be frozen on November 24th at 12 noon (7 days before December 1st),” said Danny Ryan, researcher at the Ethereum Foundation Decrypt“So we will know the Genesis block and the validator, which were discontinued tomorrow morning (USA).”

Ethereum 2.0 has been a long time coming. The planned network should allow Ethereum to be scaled up to quickly process more transactions at a time when interest in blockchain-based applications, especially those related to decentralized financing, is growing.

Perhaps not by chance, the price of Ether is currently above $ 616, its highest level since 2018 after rising nearly 33% over the past week.

At the time of publication, 527,424 ETH were staked out of 16,478 validators.