$32,4 Billion Blocked in Ethereum

More than 8,64 million ETH were blocked in the Beacon Chain smart contract. 

$32,4 Billion Blocked in Ethereum

Users blocked 8,641,954 ETH worth ~$32,4 billion at current exchange rates in the Beacon Chain smart contract network. This is the largest Ethereum smart contract, which can be unblocked only after the full launch of Ethereum 2.0.

The situation was brought to attention by a Twitter user. We are talking about a smart contract for placing 32 ETH2 for validator rights on Ethereum 2.0. The funds are locked into a smart contract in the Beacon Chain network, which will merge with the main Ethereum blockchain in the final phase of the Ethereum 2.0 launch. 

Even after the merger of the two networks, the funds will remain locked until the hard fork is implemented. The terms of the hard fork are not set and will be discussed after the merger of the Ethereum blockchain and Beacon Chain. According to the developers’ plans, the full launch of Ethereum 2.0 may take place in Q2 2022.

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