Happy Tuesday, Blockfolians
The Ethereum 2.0 deposit contract was released in early November. The smart contract required 524,288 ETH to be staked by today, November 24th, in order to ensure that the beacon chain for Ethereum 2.0 could launch.
Yesterday afternoon, it wasn’t clear that the goal was going to be hit. But in the last four hours, 25% of the necessary ETH poured in, moving the total deposited from 385,440 to more than 540,000 - worth over $325m.
The beacon chain activation is actually just the first of four phases of the migration. Still, it’s hard to overstate what a big deal this is on Ethereum’s journey to a fundamentally different economic and governance model.
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