Ethereum's long-anticipated v2.0 is proving a success with developers reporting an estimated 66,000 validators joining the chain.
While consumers didn't seem too willing to participate in the process in the past, this seems to have changed, as confirmed by data from Dune Analytics.
Individual contributors have been stepping up their game, and it's no longer just whales trying to incentivize the community – it's rank-and-file officers as well.
So far, the ETH2 contract has received deposits of an estimated $3.75bn which is an amount close to 2.5% of the total market cap for Ethereum. Overall, 4,864 unique depositors have participated so far.
To shed more light on where ETH2 is at present, Danny Ryan, Ethereum Foundation researcher, has spoken about the progress made so far in 2021.
According to Ryan, beacon chain testing continues and the transition from ETH1 to ETH2 has been going smoothly.
Based on the current development window, the first half of the year should be used to refine the development process and respond to concerns by the community, Ryan said.
One of the planned moves later for 2021 is to shard Ethereum and spread the load across 64 chains so that Ethereum can enjoy both scalability as well as fast transactions.