Ethereum 2.0 one of the most hyped and discussed topic in the crypto space right now
Recently, Ethereum launched it's deposit contract as a preparation for the Ethereum 2.0 mainnet launch
After going Live last week the deposit contract for Ethereum 2.0 ugrades and holds over 50k Ethereum
This deposit contract serves as a bridge for the migration of Ethereum network from Proof of Work (POW) to Proof of Stake (POS)
To become a transaction validator on the new network users needs to stake at least 32 Ethereum
Currently over 50k Ethereum looked up in the deposit contract worth $23.8 million.
Total of 524,288 ETH is needed to split between 16,384 stakers to trigger the Ethereum 2.0 genesis event and active upgrade.
When the network finally goes live those validators will start earning annual of 8 to 15% lucrative yield
After the contract went live Ethereum founder Vitalik Buterin sent 3,200 Eth around $1,4 million to claim 100 validator.
Once the threshold is reached the central nervous system of the new eth network beacon chain will go live
Ethereum developers estimate Ethereum beacon chain will go live in December and process of 4 phase Ethereum 2.0 will began.
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