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Date:
05th Nov 2020
Author:
CryptoAltum Research Team

Eth2 Beacon Chain Mainnet to Launch on 1st December

In less than a month, the first phase of Eth2 will launch following the announcement of the Beacon Chain deposit contract address and date. Validators are required to deposit at least 32 ETH a week before Dec 1, 2020, 12 PM UTC as one of the conditions for launch. If not, it shall be postponed until after the threshold is reached.


Details: 

Eth2 will enable ETH staking. Before activation, there must be a deposit contract for pooling together 512,000 ETH, the minimum threshold for the Beacon Chain mainnet to go live. The announcement is a bullish move for ETH, placed at the center of Ethereum’s security. 


Impact on the ETH Price: 

Bullish. The Ethereum price soared above $400 following the foundation’s confirmation of the deposit contract address and date ahead of the Beacon Chain mainnet launch. Aforementioned, the security of the Proof-of-Stake blockchain is highly sensitive to prices. Therefore, the probability of ETH correcting even higher is high.


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