🧗 When did the beacon chain go live?
Instead of requiring nodes to spend energy to do block proposals, the Proof of Stake mechanism required nodes to deposit ETH and take turns to propose blocks based on the proportion of the staked amount.
The transition from PoW to PoS happened in two phases
- Phase 0 - Beacon chain launch
- Phase 1 - Merge beacon chain to Ethereum network (aka mainnet)
Ethereum deployed a smart contract
0x00000000219ab540356cBB839Cbe05303d7705Fa to the mainnet and asked stakers to deposit ETH to participate in the PoS consensus.
The beacon chain was activated when the staking deposit in mainnet reached a certain amount.
When it launched, it was not processing any Ethereum transactions. Instead, it was just monitoring the mainnet for any staking deposits, activating validators and creating beacon blocks with just deposit data. In essence, the beacon chain was reaching consensus on the validator state and deposit information.
Beacon chain and Ethereum mainnet running in parallel
🕵️ When did the beacon chain go live?
WITH eth_deposit_status AS ( SELECT block_time, SUM(value/1e18) OVER (ORDER by block_time) AS total_eth_deposited FROM --1. Read from traces table WHERE `to` = LOWER('depositaddress') --2. Update the deposit contract address AND success = true AND value > 0 ) SELECT DATE(MIN(block_time)) AS genesis_trigger_date, DATE(MIN(block_time + INTERVAL '7 DAY')) AS beacon_chain_launch_date FROM eth_deposit_status --2. Add a where condition to ensure the total_eth_deposited >= 524288
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