Countdown to Ethereum 2.0 Kicks Off With Deposit Contract Launch | Cryptoglobe

Ethereum 2.0’s countdown has officially begun with the release of its deposit contract on November 4; this marked the beginning of the transition to ETH 2.

An essential piece of #Ethereum’s Serenity upgrade, the Beacon Chain’s deposit contract, is live. This begins a transition to #Eth2.@EthDotOrg Guide: https://t.co/PkKwLnXKS4
Launchpad: https://t.co/CFgFwAs46f
Deposit Contract Address: 0x00000000219ab540356cBB839Cbe05303d7705Fa

— Ethereum (@ethereum) November 4, 2020

Developer Afri Schoeden committed the mainnet deposit contract address and minimum genesis time to GitHub around 15:00 UTC on November 4:

mainnet 👀
https://t.co/Jp4WEWA6Zh

— Afri Schoedon (@q9fmz) November 4, 2020

According to GitHub records, the eth2 deposit contract address is 0x00000000219ab540356cbb839cbe05303d7705fa, and the eth2 Beacon Chain genesis should be taking place in early December (the earliest it will happen is 12:00 UTC on 1 December 2020).

The Eth2 deposit contract is:

0x00000000219ab540356cBB839Cbe05303d7705Fa

Eight 0s, 219, ab, and ends in 7705Fa. tripple check before using it or sending any funds. https://t.co/BGSe6vQZTU

— Afri Schoedon (@q9fmz) November 4, 2020

Here is core researcher Danny Ryan talking more about the genesis date/time in an Ethereum Foundation blog post:

To trigger genesis at this time, there must be at least 16384 32-ETH validator deposits 7 days prior to December 1. If not, genesis will be triggered 7 days after this threshold has been met (whenever that may be).

Users who stake a minimum of 32 ETH on the new network will begin receiving rewards at the onset of the genesis event, with the expected inflationary interest between eight and fifteen percent. 

However, it is worth highlighting the warning issued by Solidity developer Dean Eigenmann:

I think now is a good time to remind you that you probably shouldn’t lock your eth in the deposit contract just yet. There’s still a lot that needs to be done for you to get access to those great returns that are advertised.

— Dean Eigenmann (@DeanEigenmann) November 4, 2020

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