• Ethereum 2.0 genesis block to mark Bitcoin’s 11-year anniversary by launching on January 3, 2020.
  • Developers are targeting a deposit amount of 2 million ETH before the genesis block.

The initial phase of Ethereum 2.0 which will see the second largest cryptocurrency project on the market move to a proof-of-stake (PoS) consensus algorithm is slated for launch on January 3, 2020. This data is significant as it marks exactly 11 years since the first Bitcoin block was launched on January 3, 2009. Justin Drake, a researcher associated with Ethereum 2.0 said that this was precisely the reason why the date was picked.

Drake added that the developers are getting ready for the phase zero spec freeze, which is to take place on June 30. However, before the genesis block is launched, the network must achieve a couple of key milestones, first the deposit contract is to launch in order to give the validators the ability to make deposits.

The developers are targeting a deposit amount of 2 million ether. Devcon in Japan has been awarded the deposit contract ceremony. Drake said that is “so that we can all agree on the address of the deposit contract and avoid scam deposit contracts.”

The second major milestone is to ensure that Ethereum 2.0 block launch takes place on the very day Satoshi Nakamoto launched Bitcoin genesis block to mark the largest crypto’s 11-year anniversary. This will also mark a new beginning for Ethereum as it will take place just after Christmas and the new year celebrations.

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Opportunity in Bitcoin for bargain hunters

First, the strong bullish move yesterday by Bitcoin, which gained more than $1,000 in 60 minutes. The movement has placed the BTC/USD pair above all major moving averages and opens the door to further rises in the absence of relevant resistance.

More Bitcoin News

Ripple’s XRP recovery from April lows marks the beginning to breakout

Ripple has dived massively from the recent highs. The breakout above both the 50 Simple Moving Average (SMA) 1-D and the 100 SMA 1-D propelled XRP past critical hurdles. For the first in 2019, the price exchanged hands above $0.5. 

More Ripple News

Litecoin market overview: LTC/USD oversold and ready to bounce

Litecoin is showing signs of exhaustion from the downtrend experienced from the beginning of July. Recovery to June highs around $146 has been impossible with the path of least resistance having an affinity to the south.

More Litecoin News

Ethereum 2.0 January 3, 2020 launch date remains unconfirmed

The Ethereum ecosystem is preparing for what is known as the biggest milestone for the network, Ethereum 2.0. The new protocol is still in the development stages and researchers have recently told the community that it is possible that there will be a delay in the launch.

More Ethereum News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast

BTC

ETH

XRP