Phase Zero of Ethereum 2.0 is Launched
Main page News, Ethereum

Today, December 1, the launch of the phase zero of Ethereum 2.0 has just taken place with the launch of the genesis block in the new network. The Ethereum founder Vitalik Buterin has written:

"Congrats on the launch all!"

The Beacon Chain will allow participants to be rewarded for adding blocks to the network and maintaining its security according to the rules of proof-of-stake consensus.

Prior to the launch, the Ethereum 2.0 participation deposits have exceeded 880,000 ETHs or $500M. Due to the peculiarities of the Ethereum 2.0 launch, these currencies will remain locked in the new chain for the next two years and will not be available on the market.

At press time, the activation of the phase 0 of the Ethereum 2.0 is progressing as expected and customers are maintaining a stable network connection.

Vitalik Buterin has said the following about the additional steps to be taken by the project:

"We hope that proof-of-stake runs smoothly for some time but we would like to add more functionality. The big ticket items are sharding and the merge between ETH 1 and ETH 2. There are also some smaller things like adding more client support quickly."

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