Ethereum 2.0

[etienne_marais]

Anybody keeping an eye on this ?

From the Coin Gecko mailing list:

After a long wait, Ethereum 2.0 has finally been deployed.
(Editor's Note: Yes, it's for real this time.)

With staking now available, over $1 million ether (ETH) was deposited within the first half an hour.

In order for the Beacon Chain mainnet genesis event to be initiated, 524,288 ETH from 16,384 validators is required.

The Ethereum team is targeting December 1 as the initiation date. The target amount must be in the contract seven days before the phase 0 launch.

 

[etienne_marais]

Validation status: https://launchpad.ethereum.org/

 

[Analog Revenant]

yeah, been watching.. I've got some smart contracts and activity running on Ethereum. Pretty exciting

 

[ichocolate]

Does this mean price movement to the upside or does it mean wait for Bitcoin before moving where it wants to?

 

[Wary GOM]

Anybody keeping an eye on this ?

Yes. Making the crypto scene interesting.

 

[etienne_marais]

Binance introduced a validator staking mechanism for the majority of people who can't stake the 32 ETH to become a validator. Pity I did not do this as soon as possible, but I am now steaking a fair amount of ETH on Binance (any amount can be staked).

Currently the reward for staking is 11.1% APR which is very good. But it decreases as more eth is staked in validators, to a minumum of 4.9%.

If you stake on Binance, your staked ETH becomes locked and will only be released when ETH 2.0 goes live, this can be more than 2 years depending on development. (Personally I think it may be considerably sooner).

Your earnings are however in BETH which you can start trading/withdrawing in January. As I understand BETH will be pegged to ETH in a 1:1 ratio.

The APR and total staked ETH for ETH 2.0 development can be viewed here: Eth2 Launch Pad (ethereum.org)

You can stake ETH on Binance here: Earn Crypto Rewards with Binance ETH 2.0 Staking | DeFi Yield Farming | Binance.com -- you will have to create an account (free) if you are not already on the Binance exchange.

 

[etienne_marais]

Does this mean price movement to the upside or does it mean wait for Bitcoin before moving where it wants to?

I suspect renewed interest in ETH will drive the price up, especially close to release of ETH 2.0

In general most altcoins, including ETH, roughly goes up and down as BTC does.