Ethereum Beacon Chain: Total Number of ETH Pledges Surpass 18 Million Mark

04/06/2023 02:36 • Metaverse Matters • 131 views

According to reports, according to the official website mainnet.beaconcha.cn of Ethereum, the total number of Ethereum pledges has exceeded 18 million ETHs, with a total of 18002920 ETHs pledged. The total number of Ethereum beacon chain validators has exceeded 560000, reaching 562597 at the time of writing. In addition, the Ethereum Beacon Chain ETH Pledge APR (Annual Return) is currently 4.65%.

The current total amount of Ethereum pledges exceeds 18 million ETHs

If you’re following the cryptocurrency world, especially Ethereum, you must have heard of the latest surge in the total number of Ethereum pledges. According to reports, the official website mainnet.beaconcha.cn of Ethereum confirmed that the total number of Ethereum pledges has exceeded the 18 million mark, with a whopping total of 18,002,920 ETHs pledged. This is a clear indication that the Ethereum network has gained even more trust among investors, traders, and hodlers worldwide.

Ethereum Beacon Chain Validators Surpass 560,000

The Ethereum network wasn’t just able to attain 18 million pledges, but it also reached a significant milestone of having over 560,000 validators on the Ethereum Beacon Chain. The number has surged from 550,000 validators in just a week, indicating a substantial increase in the number of people willing to be part of the Ethereum network. Although, it’s essential to note that any user needs at least 32 ETHs to become a validator, which means the total number of people that can become validators continues to reduce as more people register on the Ethereum network.

Ethereum Beacon Chain ETH Pledge APR Currently 4.65%

To incentivize users to participate in the Ethereum network, the Ethereum Foundation devised a reward system that pays validators for every block they validate. The current reward rate is in the unit “GWEI,” and it fluctuates based on the number of people staking their ETHs on the network. Currently, the Ethereum Beacon Chain ETH Pledge APR (Annual Return) is 4.65%, which is an attractive incentive for people to pledge their ETHs on the network.

Key Takeaways

– The Ethereum network has continued to experience a surge in people confirming their trust and commitment to the platform by staking their ETHs.
– The Ethereum network has exceeded 18 million ETHs in pledges, a key milestone that further proves the network’s strength and viability.
– The total number of validators on the Ethereum Beacon Chain has increased significantly, going from 550,000 to over 560,000 in just a week.
– Validators on the Ethereum network receive a reward in the unit “GWEI,” and the current annual reward rate stands at 4.65%.

FAQs

Q1. What is Ethereum Beacon Chain, and how does it work?

A1: Ethereum Beacon Chain is a part of Ethereum 2.0, a significant upgrade to the Ethereum network, which aims to improve scalability, security, and decentralization. The Ethereum Beacon Chain will coordinate and manage the shards’ processing power to allow for more transactions to take place on the network.
Q2. How can I become a validator on the Ethereum network?
A2: To become a validator on the Ethereum network, you must have a minimum of 32 ETHs, a personal computer with high processing power, and be willing to run some software. The Ethereum Foundation has provided guidelines on how to become a validator on their official website.
Q3. What are the benefits of staking Ethereum on the Ethereum Beacon Chain?
A3: By staking Ethereum on the Ethereum Beacon Chain, you become a validator on the network and earn rewards for every block you validate. You also contribute to the network’s security and decentralization, ensuring the Ethereum network remains viable and secure for all users.
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