Comment by drcode

TLDR; The transition from Eth1->Eth2 requires the following steps:

1. Network operators (stakers) deposit at least 524,288 ETH in a special contract

2. The early Eth2 blockchain (the "beacon chain") launches Dec 1st

3. The Eth1 blockchain will be merged into Eth2 (details TBD)

4. Other features will be added to make Eth2 fully functional (sharding being the biggest feature)

Just a few minutes ago, step 1 has been accomplished.