10METH Staked In Ethereum Consensus Layer Agreement

Ethereum’s Roadmap

The momentum surrounding Ethereum’s switch from Proof-of-Work to Proof-of-Stake seems to be building. 

According to the Ethereum 2.0 deposit contract, there is more than 10,000,000 ETH now in the consensus layer (previously Ethereum 2.0). Etherscan. The deposit contract permits Ethereum to be moved from Ethereum’s mainnet to the Beacon Chain. At current prices, the staked ETH has a value of approximately $26 million. 

Around 309,000 validators contributed ETH to the deposited ETH. Each validator put up at most 32 ETH. 

The Proof-of-Stake consensus mechanism uses blockchain funds to stake money on the network and confirm transactions. Ethereum currently utilizes Proof-of-Work, like Bitcoin, which is where “miners” use computer hardware to solve complex mathematical equations to earn the right to validate transactions (and subsequently win block rewards for doing so).

The Beacon Chain runs parallel to the Ethereum blockchain and is a Proof-of-Stake version. The Beacon Chain launchedDecember 2020 

The Beacon Chain and the Ethereum mainnet are slated to merge. Although it was originally planned for June according to Ethereum Improvement Proposal 4345 (which has been delayed previously), this is likely to occur in June. 

The consensus layer deposit agreement AttainedThe January 9 million mark of ETH, which was around $30 billion at that time, was celebratedETH’s price has slumped since. 

The Ethereum Foundation had suggested earlier this year Major rebrand to the network’s roadmap, pushing for a shift away from the terms “ETH 1.0” and “ETH 2.0,” instead favoring “execution layer” and “consensus layer,” respectively.

Since August’s launchEIP-1559 via London Hardfork. The network has nearly been destroyed Two million ETHAt a rate of approximately 6 ETH per hour. EIP-1559 introduced a base fees burn to destroy Ethereum in an effort to stabilize Ethereum transaction fee. 


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