Ethereum 2.0 Launch Gets Closer With Minor Code Release

Excitement is spreading through the Ethereum camp as the tool for creating deposits on Ethereum 2.0 is released on GitHub.

2 min read

Nov 4, 2020

Ethereum is inching ever closer to its long-awaited 2.0 upgrade. Last night, during one of the most divisive US elections in history, the tool to create Ethereum 2.0's deposit contract silently dropped on GitHub.

"We have a go for Main engine start 🚀," reads the GitHub release.

While the entirety of crypto Twitter remains enthralled by the Election results, a few spotted the announcement.

"Quietly releasing #ETH 2.0 deposit contract on #ElectionNight... sneaky, veryyyyy sneaky!," tweeted Adam Barlamm, founder of blockchain gaming firm, Chain Games.

What does the code do?

The tool represents a step toward Phase 0 of the long-awaited upgrade.

The inaugural stage of a staggered 6-phase rollout, Phase 0 introduces a proof-of-stake consensus mechanism—an efficient means of validating transactions on the Ethereum network. In order to get users staking and the proof-of-stake chain in working order, funds must be migrated from Ethereum's current blockchain over to Ethereum 2.0. And that's where the tool comes in handy.

Rather than the official deposit address itself, the release is a tool for generating the keys required to make deposits on Ethereum 2.0.

Phase 0 is expected to ship as soon as the deposit contract is functional.

So after months of setbacks, strenuous sandbox testing, and copious audits, it seems that parts of Ethereum 2.0 are finally getting there.

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