Ethereum Beacon Chain Pledge Reaches New Heights

03/29/2023 03:24 • Blockchain Buzz • 131 views

According to reports, according to data from Dune Analytics, the total pledge amount of the Ethereum beacon chain reached 17982953 ETHs, and the pledged ETH accounted for 14.93% of the total supply of ETH. Among them, the pledge share of the liquidity pledge agreement Lido reached 31.35%. In addition, the total number of deposit addresses has reached 100968.

The total pledge amount of Ethereum Beacon Chain is close to 18 million ETHs

Ethereum, the second-largest cryptocurrency by market capitalization, saw a significant milestone for the Ethereum Beacon Chain. According to Dune Analytics’ data, the total pledge amount of the Ethereum beacon chain reached 17982953 ETHs, which accounts for 14.93% of the total supply of ETH. Among all the pledge agreements, the liquidity pledge agreement Lido boasts the highest pledge share, i.e., 31.35%. Additionally, the total number of deposit addresses has reached an all-time high of 100968. Let’s delve deeper into these developments and its implications for the Ethereum community.

What is the Ethereum Beacon Chain?

The Ethereum Beacon Chain is the core part of Ethereum’s transition to ETH 2.0, a more efficient and scalable version of Ethereum. It is a proof-of-stake (PoS) consensus mechanism, where the validators can pledge their ETH to participate in the network’s consensus, creating new blocks, and validating transactions. The beacon chain also includes the Shard Chains, divided into 64 shard chains, each processing thousands of transactions, thus increasing the transaction throughput.

Ethereum Pledge Amounts Reach A New High.

The Ethereum beacon chain has seen a significant increase in the total pledge amount, reaching 17982953 ETH. This increase can be attributed to various factors, such as the increased awareness of the benefits of staking, the rewards that the validators receive, and the rise in ETH’s price. As the Ethereum network transitions to ETH 2.0, the validators who pledge their ETH on the beacon chain will be able to take part in the network’s consensus.

Lido Leads the Way in Pledges

Among all the pledge agreements, the liquidity pledge agreement Lido boasts a significant portion of the pledge share, amounting to 31.35%. Lido is a decentralized staking solution that provides liquidity to the Ethereum network, allowing ETH holders to stake their coins and earn rewards without having to lock up their assets for long periods. This enables the holders to continue trading and participating in the Ethereum ecosystem.

Growing Number of Deposit Addresses

The Ethereum beacon chain has seen a steady increase in the number of deposit addresses, reaching an all-time high of 100968. This indicates the increasing number of validators interested in participating in the network’s consensus, and the rise of staking as a viable investment option.

Conclusion

The Ethereum beacon chain’s growth shows that Ethereum 2.0 is well on its way to becoming a reality. The increase in the total pledge amount, the rising number of deposit addresses, and the dominance of Lido in the pledges is proof that staking is becoming a more popular choice for Ethereum validators. As we await the full launch of ETH 2.0, we can expect to see more developments and improvements to the Ethereum network.

FAQs

Q1. What is the total number of shard chains in the Ethereum beacon chain?
A1. The Ethereum beacon chain includes Shard Chains divided into 64 shard chains, processing thousands of transactions to increase transaction throughput.
Q2. What is Lido, and how does it provide liquidity to the Ethereum network?
A2. Lido is a decentralized staking solution that enables ETH holders to stake their coins and earn rewards, allowing them to continue trading and participating in the Ethereum ecosystem.
Q3. Why is staking becoming a more popular choice for Ethereum validators?
A3. Staking is becoming a more popular choice for Ethereum validators due to the potential rewards, ease of participation, and the rise in ETH’s price.

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