Saturday, June 10, 2023
HomeEthereum NewsLaunching Ethereum 2 Phase 0 On December 1 is an 'Uphill Battle'

Launching Ethereum 2 Phase 0 On December 1 is an ‘Uphill Battle’

Judging by the speed ethereum (ETH) is being staked in the recently launched Ethereum 2.0 (ETH 2.0) deposit contract, the Phase 0 would not be launched before January. Still, some members of the ETH community hope that the validators will pour in with the genesis time nearing, while others still question how good of an idea is to lock away one’s ETH in the first place. Meanwhile, a call to “war” has been issued.

Per the ETH 2.0 Deposit Contract Progress Meter Bot on Twitter, the Beacon Chain’s final version likely will not be ready until November 24. This is important, as the earliest date for the mainnet launch is set for a week later.

I expect this will shoot from ~30% to 100% in the days leading up to genesis.

ETH 2 returns are extremely competitive but having $ETH sit idle is unnecessary when genesis can’t start until December 1st. Don’t be alarmed!

— 0xNick (@0xEther) November 9, 2020

Others, however, like Bitcoin (BTC) evangelist at crypto exchange Kraken, Pierre Rochard, argue that this type of staking is “an economically irrational thing to do.”


Most Popular