There was a moment when Ethereum reached a historic turning point.

In November 2020, the Ethereum development team finally officially confirmed December 1st as the launch date for Ethereum 2.0, causing the market to stir.

At that time, developer Afri Shouden's announcement was not just a simple date notification.
The fact that the deposit contract, a core technology, was uploaded to GitHub signaled that the transition to Ethereum 2.0 was no longer a distant future.
Technically, it was a strategy to run the existing chain and the new chain simultaneously, gradually migrating users, with the deposit contract serving as the bridge.

What made Ethereum 2.0 so important was the complete shift from proof-of-work (PoW) to proof-of-stake (PoS).
It was a major upgrade aiming to improve scalability, speed, and security all at once.
Users could participate as network validators by staking 32 ETH, and the more they deposited, the greater their rewards.

Market expectations at the time were enormous.
The activation of the beacon chain required reaching a threshold of 16,384 validators, and it was expected that locking up such a large amount of funds would reduce Ethereum's circulating supply, driving up the price.
Immediately after the official announcement of Ethereum 2.0's launch date, the price of Ethereum surpassed $400.
Looking at the market sentiment at that time, it’s clear how monumental Ethereum 2.0 was.

Of course, the development process was not smooth.
Delays due to testnet configurations and bugs raised concerns within the industry.
However, as the launch date of Ethereum 2.0 was confirmed, those doubts gradually faded.
Ultimately, on December 1, 2020, Ethereum moved into a new era, marking a historic moment in blockchain history.