Eth2 and Beacon Chain Can Still Launch on Nov 24 But Changes Will be Aggressive
Danny Ryan, an Ethereum developer, in an AMA session on Nov 18, said Eth2 Beacon Chain mainnet can still launch on Nov 24 even if the threshold is not met. The first phase of Eth2, the launching of the Beacon Chain mainnet, is scheduled for Dec 1 but is subject to several conditions being met a week prior.
The Ethereum price is steady. Traders and market analysts are looking forward to how events will pan out a few hours before Nov 24. Depending on the amount of ETH staked, the Dec 1 launch may not be possible. Eric Conner, another commentator, thinks the Nov 24 deadline was too tight, and leaving too much ETH exposed may open up other attacks. He says postponing the Genesis event to mid-Dec makes sense as it gives more people more time to familiarize themselves with staking processes. Others suggest pushing activation to early next year. Still, if there are changes, and the community decides to postpone the launch, ETH prices may contract from spot rates.
Impact on ETH Price:
Bearish. Postponement of the Beacon Chain launch to Dec or next year will be deflating to bulls. On the flip side, a timely rollout would provide the impetus for $500 and even $600 in the medium term.
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