The network of the Ethreuem ETH contract has managed to cross the threshold that was needed for initiating the upgrade that is upcoming. So far, there has been more of 694,368 ether which has been more than $422 million that rested in the contract; the developers are hoping the proof of the stake launch that shall soon start from December 1. By the end of November’s first week, the foundation of Ethereum started with the initial process of the high anticipated of the Ethereum 2.0 with some upgrade specifications that also included the detailed initial rules of the genesis phase 0. Phase 0 is a contract specification that includes the requirement of nearly 524,288 ETH and at least 16,384 with at least 16384 validators for involving the proof of the staking process.

The requirement also is needed for the kickstart Ethereum 2.0 for December 1 which is compulsory for thresholding the met by the 24tyh of November 2020. Along with this, there is a web portal which is known as the launch pad that was published so that users will be able to grasp up on how to be the right ETH validator and also make the blockchain well secured. Further, the requirements also required on sparking the genesis phases 0 processes that were ideally finished on the 24ths and there is also ether worth $422 million in the contract.

The contract highlights nearly 16,736 transactions of 32 ether per transaction has been made. Besides 32 ETH is what is required for being a validator and earning a better stake on the Ethremum chain. At the exchange rate is which currently around $608 per ether its price close to the validator of $20k per staking. This roughly has managed to say the hold of 25% of the ether that was required for meeting the threshold which was deposited in the contract in less than four hours of the period.

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