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Ethereum

Ethereum Is Ready for ETH Staking, Eth2 Rollout Starts from Dec 1

After months, the Ethereum Foundation has officially announced the deposit contract date for Eth2 Phase 0, specifying the genesis event of the Beacon Chain mainnet in an update on Nov 4. 

Deposit Contract Date for Beacon Chain Mainnet Announced

According to Danny Ryan, one of the lead developers, Phase 0 will be launched on Dec 1, 2020, 12 PM UTC subject to several conditions being met. After that, slot zero of epoch zero can begin.

For the avoidance of doubt, Eth2 will be rolled in several phases. The Beacon Chain mainnet is the first of the three. The first stage begins after the minimum threshold of 16,384 32-ETH validators join a week before Dec 1. If not, the launch will be delayed for another week until after all conditions for launch are true.

Unlike the Spadina, Medalla, or the Zinken test networks, real ETH will be sent to the deposit contract along with some other data.

Pre-genesis, the only active players on the Eth2 side will be the Beacon nodes tasked with maintaining the state of the network and watching that 32 ETH deposits are sent to the correct addresses. It is only after the activation of the genesis that validators will spring into action.

At the moment, the official Launchpad is live on the mainnet. Interested validators can begin generating deposit keys.

Be Cautious of Fake Addresses

Nonetheless, caution should be taken by would-be validators.

The foundation is emphasizing due diligence. Interested validators are required to double-check and even triple check the correct Eth2 Beacon Chain mainnet deposit address needed for staking. This is because there have been warnings that fake addresses may be generated by agents in an attempt to scam well-meaning network participators.

Earlier on, a deposit contract tool was activated on the mainnet and details on GitHub. Even though the upload was from Carl Beekhuizen’s account, the Ethereum Foundation and Vitalik Buterin didn’t comment. 

Subsequent chatter and talks of a possible compromise of Carl’s account arose. However, this confirmation is a signal that the team was reading from the same page, preparing for the official announcement, setting the ball rolling for the next stage in Ethereum’s development.

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