Recently launched the direction of the deposit contract for Ethereum 2.0, the next generation of Ethereum, continues to grow. However, so far more than 31,000 ETH are registered at that ETH 2 address, of which 3,200 ETH were donated by Vitalik Buterin, creator of Ethereum.
These 3,200 ETH are equivalent to roughly $ 1.3 million at current prices. EtherScan is the tool that tracks the data of the Ethereum blockchain, and from there we have this information that it belonged to Buterin.
Why did Buterin decide to make that deposit in Ethereum 2.0?
Buterin said he hopes the warehouse will continue to attract people “as stakers get their coins out of cold storage, get comfortable with the tools and trust the tools to work, etc.”
As for whether the deposit address will reach the required 524,288 ETH by December 1, Buterin gave a positive note. But he added: “There are not many precedents.” This date would be the earliest the genesis of ETH 2 Phase 0 can begin.
If you look at the ETH sale in 2015, for example, there was a significant (but disappointing) level of participation on the day. Then very little on days 2-12, and then on the 13th and especially the 14th (the last day with a full discount).
There was a huge increase that ended up being something like half of all the ETH that ended up going for sale. So it is quite possible that here too we will see a period of quiet and then a lot of participation in the last week of November. But this is me just speculating, we’ll see!. This is what Buterin said.
What can we expect?
The launch of the deposit address was announced earlier this week. This represents the final leg of what has been a years-long process to shift Ethereum from a proof-of-work network to one based on proof-of-stake (ETH 2.0).
Phase 0 will see the launch of the Ethereum 2.0 beacon chain, which will serve as a kind of backbone for the emerging network. Another important milestone to remember is that about two months ago, the ETH 2.0 developers launched Medalla, a testnet that served as a multi-client dress rehearsal for the operation of the ETH 2 Phase 0 launch.