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Home Business & Finance Eth 2.0 Deposit Contract Is 75% Funded Ahead of Soft Launch

Eth 2.0 Deposit Contract Is 75% Funded Ahead of Soft Launch

Document Analysis NLP IA

339
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1:41
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positive
sentiment

Sentiment0.1349075167257
subjective
redaction

Subjectivity0.52756952643316
probably it's an affirmation
Affirmation0.40942028985507

Highlights

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Key Concepts (and relevance score)

Summary (IA Generated)

The smart contract that will trigger the first phase of Ethereum’s most ambitious upgrade yet has nearly accrued enough funds to activate.

0 deposit contract currently holds 385,440 ($231 million) of the requisite 524,288 ETH required to activate Ethereum 2.

1, so if the deposit contract reaches 100% of the necessary deposits by, for instance, Nov.

24, then the Beacon chain will go live Dec.

1.

The activation event can be triggered after this timeframe as well, so if the deposit contract hits its minimum on Nov.

25, for example, then the Beacon chain will activate on Dec.

Viktor Bunin, a protocol specialist at blockchain infrastructure service provider Bison Trails, said the tepid start was the result of a “convergence of factors,” including issues with the Medalla testnet and developers pushing later-than-expected updates for Prysm and Lighthouse, Ethereum 2.

Addressing one of the main criticisms against the deposit contract, Bunin said that while some users may be put off by the one-way nature of staking ETH in the contract (once ETH goes into Ethereum 2.

0, it can’t come out), he said that “by and large the community is extremely excited to launch Eth 2.


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