protocols

eth2 Update 003

The eth2 mainnet launch is weeks away! Here’s everything you need to know.

eth2 Update 003

By Viktor Bunin · Nov 5 2020

Mainnet launch has been announced! Here is everything you need to know about eth2.


eth2 Phase 0 Launch

Cosmic Egg, the v1.0.0 release containing Phase 0 mainnet configurations (along with some additional tooling and components) was publicly released by Danny Ryan. This final code makes it possible to launch the eth2 network.

The eth2 deposit smart contract launched and is already accepting deposits. About 25,829 ETH was deposited at the time of publication (roughly $10.64M USD). There needs to be at least 524,288 ETH (roughly $200M USD) deposited for the network to launch, equalling 16,384 validators.


What Happens Next?

The earliest that the network can launch is December 1st, 2020, at 12pm UTC. In order for eth2 genesis to be triggered at this time, the minimum amount of ETH must be deposited by Tuesday November 24th at 12pm UTC, seven days before launch and less than three weeks from today. You can track the progress of the eth2 deposit smart contract using the eth2 launchpad.

Based on our conversations with folks planning to stake in Phase 0 from across the ecosystem, we expect large chunks of deposits wil come from exchanges, custodians, funds, and other large token holders. Some folks are ready, but many more are still in the process of adding support for eth2 and are not in a rush to be the first to stake. Some token holders are planning to wait for a few weeks to make sure the network is stable before staking. This is expected behavior as the network launches.

What happens if the minimum 524k ETH is not deposited by November 24th? The deposit contract will continue accepting deposits until it reaches the minimum threshold. For example, if we cross the threshold on December 2nd, genesis will be on December 9th.

We are including all relevant details for your reference for informational purposes. If you choose to participate in the eth2 genesis, please double-check all information and addresses before sending your ETH. It’s been reported that scammers are already looking to take advantage of the community’s enthusiasm.

Earliest genesis

  • UNIX: 1606824000
  • Human: December 1, 2020, 12pm UTC

Deposit contract

V1.0.0


More eth2 Insights

Elias Simos, Protocol Specialist at Bison Trails, recently published a data-driven deep dive into the Medalla testnet with Sid Shekhar, Blockchain Research lead at Coinbase. We interviewed Elias about the challenges they faced while compiling the data. Elias also published the first of a four-part series based on this research, analyzing aggregation performance over the course of the Medalla testnet.


eth2 Pioneer Program

Participants in the Bison Trails eth2Pioneer Program have early access to our suite of eth2 products:

  • API management dashboard to create and revoke API token access to the eth2 validator management API
  • eth2 validator management API to create Ethereum deposit transactions, add eth2 validators, and monitor the status of these validators as they are scheduled
  • eth2 metrics to see infrastructure health and real-time graphs and data visualizations

Some of the leading enterprises in the space have already joined our eth2 Pioneer Program and are beginning to integrate with our validator management API.

It’s not too late to be an eth2 Pioneer! Contact us to learn more about the eth2 Pioneer Program. We want you to have early access to build on the Beacon Chain!

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For Individuals

Are you an individual with a large amount of ETH? Please contact us to learn how to participate in eth2. ETH holders can also participate with LiquidStake powered by Bison Trails.

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About Bison Trails


Our mission is to provide superior infrastructure on multiple blockchains, to strengthen the entire ecosystem, and enable the pioneers of tomorrow.

Pioneering Blockchain Infrastructure®

Bison Trails is a blockchain infrastructure company based in New York City. We built a platform for anyone who wants to participate in 19 new chains effortlessly. We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 27 protocols with QT. Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.


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THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY. PLEASE DO NOT CONSTRUE ANY SUCH INFORMATION OR OTHER MATERIAL CONTAINED IN THIS DOCUMENT AS LEGAL, TAX, INVESTMENT, FINANCIAL, OR OTHER ADVICE. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT A RECOMMENDATION OR ENDORSEMENT OF ANY DIGITAL ASSET, PROTOCOL, NETWORK OR PROJECT. HOWEVER, BISON TRAILS (INCLUDING ITS AFFILIATES AND/OR EMPLOYEES) MAY HAVE, OR MAY IN THE FUTURE HAVE, A SIGNIFICANT FINANCIAL INTEREST IN, AND MAY RECEIVE COMPENSATION FOR SERVICES RELATED TO, ONE OR MORE OF THE DIGITAL ASSETS, PROTOCOLS, NETWORKS, ENTITIES, PROJECTS AND/OR VENTURES DISCUSSED HEREIN.

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