Ethereum 2.0’s Deposit Contract Is Practically Finished, According To a ConsenSys Developer

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As per Ben Edgington, ConsenSys developer, the deposit contract of the highly awaited Ethereum 2.0 is practically made – predicting the protocol’s beacon chain genesis to go live in just a matter of weeks. Furthermore, Edgington also noted that ETH 2.0 staking would go live before the end of the year, expectedly following the deposit contract feature release.

Ethereum 2.0’s deposit contract would enable ETH to travel in between the newly upgraded protocol and its previous iteration (from Ethereum 2.0 to Ethereum, vice versa). Once the feature officially launches, there would only be a few remaining in order to officially roll-out phase 0 of ETH 2.0.  As per the developer’s update, the upcoming release is expected to strengthen Ethereum network’s defenses against denial-of-service attacks (DDoS).

To be particular, Edgington states that the feature is expected to release in 6 to 8 weeks.

As exciting as this news may appear to be, it is worth mentioning that his statements aren’t official – Edgington clarifies that this update is his personal estimate. On top of that, he warns the public about the upcoming wave of fake deposits contracts that will most likely pop up as we head towards the forthcoming launch of the ETH 2.0 feature. According to him, users must be extra vigilant about how they send out their ETH holdings more than ever.

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