Ethereum 2.0 to go live on December 1 instead of January 3
The next generation of Ethereum blockchain is going to go live on December 1 after being in the works for years. It was supposed to go live on January 3 next year, but it looks like it’s good to go.
Ethereum 2.0 will see the blockchain go from a Proof-of-Work (PoW) model to a Proof-of-Stake (PoS) model where participants can “tie their cryptocurrency to the network as collateral”, explained TechRadar.
As per the announcement, the launch of Ethereum 2.0 to “take effect”, 16,384 validators will need to stake a minimum of 32 ether which is worth $12,800 at per current market rates. Staking ether means that cryptocurrency will underpin the network.