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It is reported that the total number of pledges of ETH 2.0 has exceeded 17.9829 million, which is 17982920. According to the current market price, the value is

Introduction

It is reported that the total number of pledges of ETH 2.0 has exceeded 17.9829 million, which is 17982920. According to the current market price, the value is about 32.602 billion dollars. In addition, the total number of ETH 2.0 pledged addresses has exceeded 578200, reaching 578227.

The total number of pledges for ETH 2.0 has exceeded 17.9829 million

When the Ethereum network disclosed its plan to move from the proof-of-work (PoW) consensus algorithm to the proof-of-stake (PoS) model, it introduced the Ethereum 2.0 upgrade. The system aims to increase efficiency and scalability while reducing electricity consumption. Since Phase 0 of Ethereum 2.0 was launched in December 2020, the total number of pledges made to the network has surpassed 17.9829 million, with a value of $32.602 billion at the current market price. Furthermore, the total number of ETH 2.0 pledged addresses has exceeded 578200, reaching 578227.
# What is ETH 2.0?
ETH 2.0, also known as Serenity, is a significant upgrade to the existing blockchain network. It aims to move Ethereum from its proof-of-work (PoW) consensus algorithm to a proof-of-stake (PoS) algorithm. Proof-of-stake allows users to participate in the network’s block validation process without having to engage in high-level computations.
# Benefits of ETH 2.0
The upgrade is set to improve the scalability, security, and sustainability of the Ethereum network. With the implementation of the Beacon Chain, which is the core of ETH 2.0, the network will transition from a dual-layer system to a tri-layer system, which will increase the number of transactions that can be processed per second. The shift from PoW to PoS will reduce the electricity consumption required for mining, making Ethereum more energy-efficient.
# Pledging to ETH 2.0
Pledging in ETH 2.0 means staking Ether (ETH) to participate in the network’s consensus function. The minimum amount required to join the network is 32 ETH. A single validator, which is a node that processes transactions and append them to the blockchain, is created with 32 ETH. Pledgers can delegate their Ether to a validator to participate in the network’s validation process.
# Total Number of Pledges
According to reports, the number of ETH 2.0 pledges has exceeded 17.9829 million, valued at $32.602 billion at the current market price. This value is expected to increase as more people and institutions pledge to participate in the network. The increasing number of pledges is a testament to the community’s belief in the upgrade and its potential.
# Total Number of Pledged Addresses
The number of ETH 2.0 pledged addresses has also increased, reaching 578227 from the initial 524288. This increase indicates that more people are willing to participate in the network’s validation process. With the continuous growth of these addresses, there is a higher level of decentralization in the network.
# Conclusion
The Ethereum 2.0 upgrade is poised to bring changes to the network, which include scalability, efficiency, and sustainability. The growing number of pledges and pledged addresses demonstrates the community’s acceptance and confidence in the upgrade. ETH 2.0 aims to offer a more robust and adaptable blockchain network to its users.
# FAQs
Q: What is the minimum amount of Ether required to pledge to the ETH 2.0 network?
A: The minimum amount required to participate in the network is 32 ETH.
Q: How does ETH 2.0 increase scalability?
A: The implementation of the Beacon Chain will increase the number of transactions that can be processed per second.
Q: What is the difference between proof-of-work and proof-of-stake?
A: Proof-of-work requires high-level computations to validate transactions, while proof-of-stake allows users to participate in validation without that computation.

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