According to previous information, Ethereum 2.0 will be officially released on December 1, and the creation time is scheduled for January 3, 2021.

Of course, there is a very important prerequisite for the release of 2.0-the released staking address must lock enough ETH in it. What is the required quantity of ETH? 524288. In other words, you have to find 200 million US dollars of ETH owners to lock the position before 2.0 can be officially launched.

If this threshold is not reached, the creation will not be triggered until 7 days after reaching this threshold (no matter when).

The ETH received by the current Ethereum 2.0 deposit contract address is about to exceed 600,000, and more than 524,288 ETH are the minimum requirements for starting the Ethereum 2.0 genesis block. If nothing else, phase 0 will go online as scheduled on December 1.

How does this affect the miners of ETH1.0?

The ETH2.0 beacon chain will actually not have any major impact on other PoW chains, because the two chains will coexist for a long time. ETH1 and ETH2 are tokens of two different chains.

However, since the DAG file containing the encrypted information of all blocks will exceed 4G in December this year, this also means that all 4G video memory graphics mining machines will be eliminated next month. For PoW miners with 8G video memory, theoretically, they can enjoy an increase in revenue after a period of time when the computing power of the entire network decreases.

If 4G graphics cards want to continue mining Ethereum, the current effective solutions are: the first is to mine other currencies, but the carrying capacity of other currencies is still relatively limited; the second is to extend 4G video memory to 6G or 8G, The cost of single modification is relatively high, and miners need to calculate whether it is cost-effective according to their own circumstances.

From the perspective of supply and demand, because a large amount of ETH will enter the staking lockup, theoretically, there should be a large amount of ETH purchase demand on the demand side. And because ETH2.0 staking is a one-way ticket with no entry but no exit, staking ETH cannot be withdrawn within 2 years, so the supply side should reduce a lot of selling pressure.

Generally speaking, for PoW miners with 8G graphics cards, it is a period of good profit.

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