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The first phase of Ethereum 2.0: the "signal chain" is launched — Beacon Chain

The first phase of Ethereum 2.0: the “signal chain” is launched — Beacon Chain

The first phase of Ethereum 2.0-the “signal chain” (Beacon Chain) was launched on December 1 at 15:00 Moscow time. The capabilities of Ethereum 2.0 will expand as the next phases are deployed.

Beacon Chain Ethereum 2.0 was launched a week after more than 524,288 ETH were blocked in the Ethereum 2.0 deposit contract, and more than 16,384 validators expressed their readiness to join the network. At the time of launch, 881,569 ETH are blocked in the deposit contract, and 21,063 validator nodes are active in the main network.

Ethereum co-founder Vitalik Buterin tweeted about the event. He joked that in the first block of the new network on PoS, there are no significant messages “about some giant jumps for humanity or something like that.”

Normal people: we should really put something profound in the first block of the ethereum PoS chain, something about giant leaps for mankind or whatever.

Ethereum community: pic.twitter.com/cOu94fUPE9

— vitalik.eth (@VitalikButerin) December 1, 2020

According to the information
On the Ethereum Foundation website, ETH holders do not need to take any action with their assets:

“You don’t need to do anything with the ETH you already have. Beware of scammers who ask you to send ETH for their exchange.”

Until further updates, ordinary users will hardly notice any changes in the network operation. With phase 0, the transition of Ethereum to the Proof-of-stake (PoS) consensus begins. ETH owners can block them for staking and participate in the network as validators, receiving rewards for confirming blocks. Earlier, the editorial board of Bits. media prepared a guide
on how to participate in the Ethereum 2.0 staking.

The next stage of the deployment of Ethereum 2.0 will be the creation of shard chains-this may happen in 2021. In 2021 or 2022, Phase 1.5 should be launched, after which ETH 1.0 and ETH 2.0 will be merged.

Some major exchanges have already announced support for staking and trading ETH2 coins. The American cryptocurrency exchange Coinbase said that the exchange’s customers will be able to convert ETH to ETH2 using their account, and receive a reward for staking.