Vitalik Buterin deposits 3,200 ETH at the Ethereum 2.0 address
23. November 2020
Ethereum 2.0 is getting closer and closer, and that is why Vitalik Buterin drives it by depositing 3,200 ETH in its reservoir direction.
Recently the deposit management for Ethereum 2.0, the next generation of the Ethereum, was launched and continues to grow. However, so far more than 31,000 ETH are registered at the address of ETH 2, of which 3,200 ETH were donated by Vitalik Buterin, the creator of the Ethereum.
These 3,200 ETHs are equivalent to approximately $1.3 million at current prices. EtherScan is the tool that tracks the data of the Ethereum blockchain, and from there you have this information that it belonged to Buterin.
Why did Buterin decide to make that deposit in Ethereum 2.0?
Buterin said he hopes the warehouse will continue to attract people „as the stakers get their coins out of cold storage, become comfortable with the tools and confident that the tools are working, etc.
As to whether the warehouse’s management will reach the required 524,288 ETH by December 1, Buterin struck a positive note. But he added: „There are not many precedents“. This date would be the earliest on which the genesis of Phase 0 of ETH 2 can begin.
If we look at the ETH sale in 2015, for example, there was a significant (but disappointing) level of participation on the day. Then very little on days 2-12, and then on day 13 and especially day 14 (the last day with a full discount).
There was a big increase which ended up being something like half of all the Bitcoin Loophole that ended up going on sale. So it is quite possible that here we will also see a quiet period and then a lot of participation in the last week of November. But this is just me speculating, we shall see! This is what Buterin expressed.
What can we expect?
Earlier this week the launch of the warehouse management was announced. This represents the final leg of what has been a process of years to move Ethereum from a trial work network to one based on participation testing (ETH 2.0).
Phase 0 will see the launch of the „beacon chain“ of Ethereum 2.0, which will serve as a kind of backbone for the emerging network. Another important milestone to remember is that about two months ago, the developers of ETH 2.0 launched Medalla, a test network that served as a multi-client dress rehearsal for the operation of the ETH 2 Phase 0 launch.