Tomorrow is the big day that the ETH2 - Beacon Chain will launch at 13:00 CET.
It is a big deal because it addresses the 2 big concerns about blockchain:
- The consensus algorithm is now shifting towards Proof of Stake, which is not based on the biggest hashpower anymore and is therefore not wasting energy for consensus.
- The capacity will increase by an enormous amount because of sharding, smaller blockchains that consolidate in the beacon blockchain.
26,580 validators have collectively locked up 850,848 ETH in the smart contract that will launch the beacon chain. This currently represents a value of $524,445,855.40 (@ $607.02/ETH) and was collected in less than a month. All the payments can be tracked on Etherscan at this address:
https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa
In my opinion it's a big deal, because it has been worked on for 3 years and allows for te next blockchain applications to be operable. Ethereum is paving the way to be more successful than ever before. To celebrate the event, there are several Launchparties and one of them is linked in the YouTube video. Do you know another digital launchparty? Leave it in the comments.
This article is just to mark the moment, as it will go in history.