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Blog

Date:
20th Oct 2020
Author:
CryptoAltum Research Team

The Beacon Chain Mainnet Launch for Eth2 is Anytime From today

Ben Edgington--an Ethereum 2.0 developer at PegaSys, has confirmed that the development team will reveal the Genesis date of the Phase 0--the Beacon Chain mainnet for Eth2, anytime from today. This follows the success of the Zinken Testnet, the last multi-client test network that ironed out issues in Spadina.


Details: 

Phase 0 of the Eth2 is foundational for Ethereum scalability. A successful implementation enables the first wave of ETH Staking where the network will be preparing to shift from a Proof-of-Work to a Proof-of-Stake consensus algorithm system. Here, the value of ETH will play a crucial role as a primary determinant in gauging the overall security of the multi-billion platform.


Impact on the ETH Price: 

Bullish. Aside from measures to relieve the base layer from choking Gas fees, Eth2 is huge for Ethereum. A successful execution following the last three dry runs will open the door for ETH Staking where, as aforementioned, the price matters. A correction higher is highly likely.


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