Ethereum 2.0 deposit contract has collected …

Ethereum 2.0 deposit contract has collected …

The Ethereum 2.0 deposit contract raised 1 million ETH. Over $ 600 Million Protects New Network

Ethereum 2.0 continues to attract stakers following the launch of the deposit contract this week. According to Etherscan, on Friday the volume of assets in the Ethereum 2.0 deposit contract exceeded 1 million ETH.

This means that more than $ 600 million of assets are currently being used to protect the network.Ethereum 2.0 is based on the Proof-of-Stake consensus mechanism, which distinguishes it from the previous version based on Proof-of-Work, where the main indicator of security is volume computing power provided by miners.

Within a few days, users managed to make sure of the stability of the new system and began to make deposits more boldly. They are attracted by the high profitability, which is 16.62% per annum with the volume of staking assets of about 1 million ETH. The terms of deposits are not limited in time, that is, the user can deposit 32 ETH at any time to get validator rights and start earning rewards.

Dependence of the value of rewards on the total volume of deposits in Ethereum 2.0

Ethereum 2.0 deposit contract has collected ...

After the launch of the zero phase, large exchanges began to connect users to Ethereum 2.0 staking. Such announcements were made by Coinbase, Binance and OKEx. Remarkably, exchanges will provide customers with BETH tokens for staking ETH, which can subsequently be exchanged on the market. This also helped to clear up some doubts, as staking assets acquire liquidity thanks to the launch of trading. Otherwise, stakers will have to wait about two years for transfers to be activated at the Eth2 network level during phase 1.5.

Ethereum co-founder Vitalik Buterin presented the current project roadmap this week. On it, he depicted how far the developers have come in preparing the various phases of the update. Ethereum Foundation researcher Justin Drake previously said, “We’re halfway there. Phase 0 is very difficult and I would say that half of all the work on Eth2 was done with it. “.

MyEtherWallet CEO Kosala Hemachandra believes that developers may not reveal the full picture of what remains to be done: “Like phase 0, phase 1 will go through many iterations and a huge number of bug fixes. It is difficult to say which problem will be the next, because there will be many of them. “.

Ethereum 2.0 deposit contract has collected ...
Ethereum 2.0 deposit contract has collected ...

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