Ethereum Community is having an excited time, something that has not happened since a long time. One is due to the Ethereum price going up and also because the deposits are achieved. It just looks like if the ETH community wants to get something happening, they invariably are able to get it done.
There were certainly lot of people if it will be possible to achieve the minimum or not. Many of them were not 100% sure either. There are lot of different types of people within the ecosystem and some of them were waiting to stake for many years. Thus, there were enough people to get in to staking with genesis. Hard core Ether fans have made it happen.
In this regard, Sina Estavi, CEO of Bridge Oracle stated, “Nearing the deadline for Ethereum (ETH) genesis deposit, it looked like it was 50:50 chance; however, they were able to achieve it a few hours before the deadline.”
When the deposits achieved the deadline it was clear that most people were waiting until the last minute to put their ETH in. Good to see people who have deposited tens and thousands of their ETH placing trust in the process. The big wave of deposits happened at the end before the deadline and that was a good thing. Believers knew this is going to happen. There was a lot of hype and many of them were happy being a part of the genesis.
People waited for so long because there was no incentive to go in early and it is human nature to wait until the last minute if situations permit. However, now the real stuff has started.
Vitalik Buterin retweeted: “Future stakers, remember that you will need a synced Eth1 node! I recommend setting that up now. Don’t leave it to the last minute [it takes a long time to sync]”
Some of them said it Took ~12 hours for me to sync multiple full geth nodes the other week. Go to bed, wake up, and you’re done. Not that long.
Some of them were asking is it anyhow possible to build a geth version with a reduced state, which is only relevant for ETH2? There were very few people who were able to answer this concern though.
Ethereum (ETH) Genesis will be Live Streamed. The situation is absolutely bullish. The thing going live without any issues is the next expectation, which when happens will be a big signal.
Sydney has 20+ years commercial experience and has spent the last 10 years working in the online marketing arena and was the CMO for a large FX brokerage.
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