Ethereum 2.0 Expected To Launch Within A Month, Deposit Contract Goes Live
- ConsenSys released the official deposit contract address for Ethereum 2.0, inviting community members to become validators.
- Stakers should use the official Launchpad provided by the developer team and be wary of potential scam attempts.
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On November 4, ConsenSys announced the arrival of Phase 0 of Ethereum 2.0, which lets users become validators of the new mainnet by depositing their ETH to the beacon chain, which will be launched at the start of next month.
In the announcement, the organization provided the address through which clients can transfer their ETH to the new mainnet. In order to successfully stake their ETH on Ethereum 2.0, users should use the dedicated launchpad and follow the instructions provided by the developer team, as sending ETH directly to the contract address will result in a failed transaction.
“We’ve created this page so that validators can verify the correct address to deposit ETH to the beacon chain on Ethereum 2.0. With the highly anticipated launch of the first phase of Eth2, we expect attempts to scam users into depositing ETH into fake addresses,” the announcement read.
The deposit contract will connect the existing proof-of-work protocol and the coming proof-of-stake side chain to allow users to seamlessly transition to the new version.
The Ethereum 2.0 main chain will require at least 16,384 validators to deposit at least 524,288 ETH, no more than a week before the official launch date, so the Beacon chain can activate the genesis event. Users can currently stake a maximum of 32 ether on the protocol and earn inflation rewards shortly after genesis occurs.
Ethereum 2.0 has foregone 4 testnets, each one consisting of multiple phases that have tested and improved the robustness of the new protocol. After several years of anticipation, Ethereum 2.0 will finally launch.
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