As per the most recent blog post by the Ethereum Foundation, version 1.0 of its highly awaited Ethereum 2.0 upgrade is prepared to launch December 1 – albeit with a specific criterion. The particular blog post also clarified that the deposit contract is officially live and may now collect the required funds to kick start Eth 2.0 staking.
The Foundation stated that Ethereum 2.0 would launch on December 1 if and only if the network hits 16,384 validators. Each validator is required to stake 32 Ether (ETH) – equivalent to $12,800 as of press time – targeting a cumulative amount of over $209 million. This particular sum must then be aggregated at least seven days prior to the expected launch date. If not, the original launch date will have to be delayed for another seven days after it eventually hits the target threshold.
On top of all that, the Foundation released the professed specifications for the upcoming first version of the Ethereum 2.0 alongside the unveiling of a particular ‘Launch Pad’ wherein users may register as a validator. Notably, the precise Ethereum contract address where user funds will be deposited has also been posted.
That being said, the Ethereum Foundation clarifies that funds shouldn’t directly be sent on the posted deposit contract as it must first be staked via the aforementioned Launch Pad. Failure to do so would only lead to a failed transaction; the network would not see it as staking on the Eth 2.0.