The formal verification of the Ethereum 2.0 deposit contract has been passed successfully. Now Ethereum deposit contract is ready to go.

Ethereum 2.0 deposit contract is considered one of the most important smart contracts for the network and now it has successfully verified by Runtime Verification.

Deposit Contract is Ready to go

Ethereum 2.0 deposit contract has passed the last hurdle. Runtime Verification has successfully completed the formal verification of the ETH2.0 deposit contract.

Although we found several critical issues of the deposit contract during the formal verification process, some of which were due to subtle hidden Vyper compiler bugs, all of the issues of the deposit contract have been properly fixed in the latest version (v0.10.0).

Danny Ryan who is the Ethereum 2.0 coordinator says that this is the primary audit or verification and that formal verification was the last hurdle that Ethereum 2.0 has passed successfully.

He further elaborated:

This is the primary audit/verification. The contract and the formal verification work is now for public review. I’ll be explicitly requesting review from some teams/individuals and will make a call out for it in my next blog post.

According to Trustnodes, no more audits have been planned for the deposit contract. However, there are two audits for the beacon chain that will take place in February.

Deposit contract is a gateway to join ETH2.0

The deposit contract will serve as a gateway to join Ethereum 2.0. In order to deposit contract, validators on the new Proof of Stake Beacon Chain are required to deposit some amount of ETH by sending a transaction over ETH 1 network.

These deposits will be locked on ETH 1.0 chain by the deposit contract that also holds the transaction history. The deposit history is efficiently stored with the help of the Merkle tree data structure.

Apart from this, A Twitter user reports that there are almost 22,000 active validators that are running the first ETH2.0 client on testnet.