The deposit contract for Stake Ethereum ( ETH ) on the Beacon Chain reached 12 million ETH on Friday, representing about 10% of ETH’s total circulating supply.
The total value of Ether locked in the Eth2 contract is approximately $34.5 billion.
The Beacon Chain is an important first step in Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS), requiring a minimum investment of 32 ETH to become a validator on Eth2. The largest chain, valued at $34.5 billion. has highlighted the enormous need and trust in Eth2’s future, despite several delays over the past year.
Ethereum’s Biggest Upgrade Since Inception Faced with many challenges and continued delays along the way, however, the deposit contract has grown exponentially with over 2 million ETH deposits over the past two months.
Ethereum’s move to PoS has created mixed sensations in the crypto market. On the one hand, energy-conscious groups lauded the movement. claiming to reduce network consumption by 90%; On the other hand, Jack Dorsey believes that PoS is more centralized and less secure than PoW.
less security, more centralization
— jack
(@jack) May 20, 2021
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