Ethereum 2.0: A Pledge Towards the Future
It is reported that the total number of pledges of ETH 2.0 has exceeded 18.0462 million, amounting to 18046182. At the current market price, the value is about
It is reported that the total number of pledges of ETH 2.0 has exceeded 18.0462 million, amounting to 18046182. At the current market price, the value is about 33.805 billion US dollars. In addition, the total number of ETH 2.0 pledged addresses has exceeded 580400, reaching 580403.
The total number of pledges for ETH 2.0 has exceeded 18.0462 million
Introduction
Ethereum, a decentralized blockchain platform, offers developers the ability to create smart contracts and decentralized applications (dApps). Ethereum 2.0, also known as ETH 2.0 or Serenity, is the next phase of this platform, aiming to improve scalability, security, and sustainability. The new version introduces Proof of Stake (PoS) consensus, also known as the Beacon Chain, which allows users to stake their ETH to secure the network, drive consensus, and earn rewards. Recently, it was reported that the total number of pledges of ETH 2.0 has exceeded 18.0462 million, amounting to 18046182, with a market value of around 33.805 billion US dollars. This article explores the reasons behind the surge in pledges and what this means for the future of Ethereum 2.0.
What is Ethereum 2.0?
Ethereum 2.0 represents a significant upgrade to the Ethereum network. Its key aim is to improve and extend the functionality of Ethereum by overcoming the current limitations of scalability, security, and sustainability.
Proof of Stake (PoS) Consensus
One of the primary upgrades in Ethereum 2.0 is the transition from Proof of Work (PoW) to Proof of Stake (PoS) consensus. PoW requires miners to solve complex mathematical problems to validate transactions and add blocks to the blockchain. PoS, on the other hand, depends on stakers who hold and lock up a certain amount of ETH to validate transactions and add blocks. By implementing PoS consensus, Ethereum 2.0 is expected to consume less energy and be more energy-efficient than Ethereum 1.0.
Shard Chains
Another key feature of Ethereum 2.0 is the introduction of shard chains. Currently, Ethereum 1.0 operates as a single chain, with all nodes processing every transaction. Shard chains, however, allow for parallel processing, allowing for a higher throughput of transactions. This upgrade is expected to improve the scalability of Ethereum 2.0, enabling it to handle a higher volume of transactions.
Pledges and Address Count
Since the launch of Ethereum 2.0 last December, there has been a surge of interest among Ethereum holders in staking their ETH. As of the end of July, 18.0462 million ETH has been staked, with a total of 580403 addresses making pledges towards the future of the blockchain. This represents over 50% of the minimum required staked ETH for the Beacon Chain to function. The surge in stakes indicates that more and more people are interested in participating in the development of the Ethereum ecosystem, and are willing to take a long-term stake in its technological future.
What Does This Mean for Ethereum 2.0?
The fact that so many people have pledged their ETH towards Ethereum 2.0 is a positive sign towards its success. It indicates that many people believe in the future of the platform and are willing to take a long-term stake in its development. Furthermore, the surge in stakes makes it more difficult for bad actors to attack the network, as it requires a significant amount of ETH to be unstaked before an attack can take place.
Conclusion
Ethereum 2.0 represents a significant upgrade to the Ethereum network, introducing new features like PoS consensus and shard chains to improve scalability, security, and sustainability. The recent surge in pledges towards Ethereum 2.0 indicates there is significant interest in the platform, and people are willing to take a long-term stake in its future. This is good news for the development of the blockchain and suggests we are moving towards a more decentralized, secure, and sustainable future.
FAQs
Q1: How can I stake my ETH towards Ethereum 2.0?
A: You can stake your ETH towards Ethereum 2.0 by transferring it to a staking wallet and following the instructions to become a validator.
Q2: What are the rewards for staking ETH towards Ethereum 2.0?
A: Stakers are rewarded with ETH for helping to validate transactions, drive consensus, and secure the network.
Q3: When will Ethereum 2.0 be fully launched?
A: The launch of Ethereum 2.0 is expected to occur in three phases, with the final phase currently estimated for 2022.
This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/15735.htm
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
What does gbdg mean
<img src='https://img.doulai.com/pic/enpic.php?k=gbdg What does it mean? Imgalt=gbdg What does it mean? Images} What does gbdg mean? What is GBDG (GoldBitcoin)? It is a blockchain protocol aimed at ensuring data security through decentralized distributed accounting According to the definition, GCB is a global Cryptocurrency and digital asset, whose main purpose is to help enterprises, consumers and service providers use blockchain technology to improve the efficiency and transparency of financial services; Serve individual customers and other companies and other users In addition, the “wide area node” (GGS) is the only way in the Ethereum network that is controlled by the community to achieve complete democratic governance for all participants. For example, we can use Bitcoin to pay miners and allow them to receive rewards or income What does GB mean?What does GB mean? Its Chinese name is GlobalBlockchain Governance, which means providing a universal payment network worldwide. Users can exchange their digital currency for GBG (Global Bitcoin Gold) for purchase or use,…
-
Iron Bank demands Alpha Homera to repay $30 million bad debts
It is reported that DeFi lending platform Iron Bank urged Alpha Homera to repay bad debts. Iron Bank said that Alpha Homera needs to bear the responsibility fo…
-
Tal Broda, VP of Engineering at Paradigm, Resigns: What Does This Mean for the Company?
According to reports, Tal Broda, Vice President of Engineering at Paradigm, has resigned. He said that although I firmly believe in Paradigm\’s mission and the c
-
Celsius Transfers Over $21 Million Worth of Cryptocurrency
It is reported that according to PeckShield monitoring data, in the past 7 hours, the address marked as Celsius has transferred the cryptocurrency with a value…
-
mStable Community Considers Future Development Path through MIP-30
It is reported that the stable currency aggregation protocol mStable community has launched MIP-30 to determine its future development path. Options include bei
-
Strengthening Regulation on Encrypted Marketing: FCA’s Plan
According to reports, Sarah Pritchard, Executive Director of the Financial Conduct Authority (FCA) in the UK, stated at the London City Week meeting that she plans to strengthen re
-
The Impact of Elon Musk’s Tweet on APT Token: All You Need to Know
On April 14th, it was reported that Elon Musk deleted the previous tweet mentioning \”APT\”. Alternatively, due to this impact, the APT token fell to 12.6742 USDT
-
Nucoin: A Digital Currency for Loyalty Plans
It is reported that Nucoin, a digital currency launched by Nubank, a Brazilian digital bank, can be used as a loyalty plan. It is developed by Polygon, with a …
-
Dubai’s DMCC Launches Accelerator Program for Web3 and Blockchain Companies
It is reported that Dubai Multi-Commodity Trading Center (DMCC), in cooperation with Web3 incubator and consulting company TDeFi, provides Web3 and blockchain …
-
What is ada coin called (Introduction to ada coin)
What is the name of ada coin? What is the name of ADA coin? The Chinese name adacoin is the fork code for Bitcoin, launched by Bitcoin developer Peter Brandt in 2012 Bitcoin is a point-to-point Electronic cash system, which uses blockchain technology to transmit, manage and record transactions. Its total circulation is 21 million pieces (accounting for 1% of the flow). This amount is equivalent to about 10% of the global Money supply. From the first block in 2009 to the beginning of 2020, a large amount of funds worth nearly $300 million flowed into the network. After the birth of Bitcoin as the world’s first decentralized cryptocurrency, with the development and popularization of the market, more and more mainstream institutions have participated in Bitcoin. The emergence of Bitcoin has brought the entire world into a more transparent, fair, and secure era. But it is precisely this uncertainty that leads to the risk of Bitcoin price decline and the…