Version 1.0 of the Ethereum 2.0 specifications has been released and if all goes to plan, the blockchain upgrade should happen at the beginning of next month.

The first version of Ethereum 2.0 is set to launch on December 1, according to an Ethereum Foundation blog post today, as long as certain criteria are met. The blockchain upgrade, which moves the network toward a proof-of-stake consensus mechanism, will allow Ethereum holders to stake their coins to help run the network, instead of mining blocks as is currently the case.

As long as there are 16,384 validators on the network, it will go live on December 1 at 12pm UTC. Each validator will need to be staking 32 Ethereum, currently worth $12,700 — for a total amount of $209 million. …


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