Historical Milestone Reached in Ethereum 2.0! - News-Credit-Mortgage-Coin


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Tuesday, March 9, 2021

Historical Milestone Reached in Ethereum 2.0!


Historical Milestone Reached in Ethereum 2.0

Studying key metrics of Ethereum 2.0 staking progress, Twitter account Eth2Validators reported that one out of every 33 ETH in circulation is now locked into an ETH2 deposit contract.

3 percent of all Ethereum: The new staking milestone

The Eth2Validators team realized that three percent of the ETH supply is now allocated to the Ethereum 2.0 deposit contract. This was made possible by 107,105 ETH2 enthusiasts locking in 3,442,946 ETH.

Recently, more than 670 validators participated in Ethereum 2.0 staking mechanisms on a daily basis. Hence, the expected annual rewards rate for an average validator exceeds eight percent.

The minimum "staking" amount in Ethereum 2.0 is 32 ETH, so almost $ 60,000 is required to become a validator. Even with such expensive "admission tickets", Ethereum (ETH) supporters transferred $ 6.37 billion into the deposit contract.

Ethereum price rises to over $ 1,800 with the approval of EIP-1559
Meanwhile, Ethereum (ETH) price appears at the beginning of another rally wave. It jumped above $ 1,850 for the first time since February 22, 2021. The highly anticipated approval of EIP-1559 may have contributed to this rise.

As we previously reported as Kriptokoin.com, EIP-1559 is expected to be included in the London hard fork in July 2021. This development will perform periodic fee burns, making Ethereum (ETH) a deflationary asset.

Ethereum 2.0 is a proof-of-stake (PoS) version of the ETH protocol. It will split the entire ETH network into a system of interconnected segments and replace mining with staking as a fundamental mechanism of blockchain security.

The full release of Ethereum ((ETH) 2.0 instruments will take several years. The first leg was launched in December 2020.

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