In less than 24 hours, the Ethereum 2.0 Beacon Chain will have its genesis event and thousands of people around the world will begin staking their ETH for the first time in Ethereum’s history. What an absolutely monumental occasion we’re about to witness – the culmination of 6 years worth of research and development to create a novel proof of stake consensus mechanism that is maximally decentralized. It is unlike any other system that’s come before it.
Only 24 hours left until the genesis of the Ethereum 2.0 Beacon Chain! 26,644 validators are armed with 32 ETH each and are ready to stake 🥩
November 30th 2020
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It’s amazing to me that the Ethereum roadmap really hasn’t changed very much since the very early days when Vitalik was talking about proof of stake and sharding. Yes, it took much longer for us to get to this point than anyone anticipated but the core ideas formulated back then are still what we’re building today and have already built. I think this is the reason that the majority of the Ethereum community have no issues with the monumental changes that Ethereum will be undergoing over the next couple of years.
Furthermore, these upcoming changes are baked into Ethereum’s social contract and if you’re involved with the community then you have signed up to be apart of this grand experiment and all of the good and bad things that come with it. I believe this is why the Ethereum community is so strong and is always steadfast towards the goal of eth2 – it is the result of years of careful planning and growth with a focused mission to change the world for the better. The Bitcoin community is the only other community that has such a high conviction for the things that they believe in.
I can’t even imagine what all of the researchers and client implementers are feeling right now as they have been pouring their hearts and souls into eth2 for years at this point. It must be an incredible feeling to know that they’re apart of something so much bigger than themselves and I personally wanted to extend a heart-felt thank you to everyone that was involved in getting eth2 to this point. Without you, eth2 would not be a reality and I believe that the Ethereum community would’ve been much worse off as I consider eth2 a “schelling point” for Ethereum. While the Beacon Chain is just the first step towards a fully functional eth2, it is a critical one and its importance cannot be understated.
Alright so the next time you get your daily dose of gwei, the Beacon Chain will be live. If you’re planning to stake, make sure that you’re mainnet ready, join the EthStaker community on Reddit or Discord if you need help, make sure you read this “what not to do” thread on eth2 staking, and get ready for one of the many livestreams that’ll be hosted around the launch time. I’ll be participating in the joint stream with EthHub, Bankless, DeFi Dad and more.
See you all on the other side!
Have a great day everyone,
Join the Daily Gwei Ecosystem
All information presented above is for educational purposes only and should not be taken as investment advice.