ETH 2.0 Deposit Contracts Is About To Be Released: Report

ETH 2.0 deposit contracts platform is about to be released as the launch of Serenity has long been expected. This was the first slated to arrive earlier this year but there were a few delays that pushed back the launch date to ensure that the security is maximized as we are reading more in today’s Ethereum news.

There was a scare recently that it will be delayed once again. Ethereum’s Foundation researcher Danny Ryan said that the ETH 2.0 deposit contracts will be delayed once again:

 “This library is critical to creating keys, signing messages. Critical, in early phases, [means] that if you use this library, they need to be secure; if you use it to generate your wallets, it needs to have good randomness; and if you are signing your deposits which have a signature associated, it needs to be correct. Given how critical this library is, and given that, if there is a fundamental error in this library we could f*ck some sh*t up in terms of genesis deposits, that is the blocker.”

The deposit contract is critical in this ETH upgrade launching which was seen in the fear of delaying that caused some concerns. According to a recent announcement, this is not the case. As noted by David Hoffman at ETH-focused media startup Bankless, the Ethereum 2.0 deposit contract could soon launch. A GitHub account called CarlBeek which released a number of files six hours ago wrote that it contains the ETH 2.0 deposit contract as well as other related filed. The release was titled “we have a go for Main engine start” along with the number of changes in the changelog.

Releasing the deposit contract on election night is Peak #Ethereum https://t.co/i08bqXGDZ0

— DavidHoffman.eth 🏴 (@TrustlessState) November 3, 2020

There haven’t been any formal verifications of the files done by developers but many names in the community retweeted the contract expressing excitement. There also seems to be an internal debate playing out in the ETH developer community and there are some that they say the deposit contracts are not yet ready while some say that this is the key part of the Ethereum upgrade that is ready to be released to the public adoption. Other positive fundamental trends for Ethereum include institutional adoption.

The central bank of Australia announced today that it will be using a distributed ledger-based on Ethereum for the central bank digital currency project and the bank also partnered with ConsenSys.