Ethereum, worth $33.5 billion, is “trapped” in the largest Ethereum contract

The single largest Ethereum contract contains 8,641,954 Ethereum (Ethereum) An asset worth $33.5 billion is idle because it cannot be used or sent.

A Twitter user emphasized Beacon chain The contract, claiming that it is the largest Ethereum contract, in which billions of dollars worth of ETH are “trapped”.

This contract is the Ethereum 2.0 Beacon Chain pledge contract launched in November 2020 and cannot be used without a hard fork.

Beacon chain mortgage contract. source: Ethernet scanner

What’s more surprising is that the terms of the hard fork have not yet been determined, and the person who sent the ETH to the contract is very aware of this fact. Once the beacon chain merges with the Ethereum mainnet, the terms of the hard fork can be determined.

The beacon chain is the first key step in Ethereum’s transition from a proof-of-work mining consensus to a proof-of-stake (PoS) consensus. In order to become a validator in Eth2, a trader must pledge at least 32 ETH. Therefore, the largest ETH worth 33.5 billion USD Beacon chain The contract shows high demand and trust for the upcoming Eth2.0.

In early December, Ethereum developers called on community members Test and merge with PoS-based Eth2The testing phase is divided into three phases, which are for non-technical users, developers with limited blockchain experience, and blockchain developers with high technical content and rich experience.

The merger of the beacon chain and the Ethereum mainnet will complete the transition to PoS Eth2. Eth2’s official page indicates that the merger may be completed in the first or second quarter of 2022.