Ethereum’s ‘consensus layer’ contract hits 10M ETH staked

Quantitative analysis conducted on popular blockchain site Etherscan, indicates that 184,441 transactions have been responsible for 10.2 million ETH staked into the Eth2 (consensus layer) deposit contract since inception on Nov 4th last year. This figure is equivalent to over $26 billion based upon current Ethereum prices.

Mathematical calculations suggest that the milestone was surpassed during block 14348729 in the evening of March 8, identified by mainstream cryptocurrency publications and community advocates in the last few hours.

In late January this year, the Ethereum Foundation published an alteration to the network’s terminology, with the initial proof-of-work blockchain, or Eth1, now being referred to the execution layer, and the upcoming proof-of-stake blockchain, or Eth2, now known as the consensus layer.

To participate, each user is required to deposit and stake 32ETH into the official Ethereum Launchpad to acquire validation status on the network. At the time of writing, the number stands at roughly $83,252.

Evolution to the consensus layer is observed as a highly-anticipated event within numerous provinces of the crypto landscape – from decentralized finance, or DeFi, protocols and nonfungible token, or NFT, projects and marketplaces, to ETH asset holders – due to the reliance on Ethereum’s blockchain for a multitude of on-chain engagements.

Related: Ethereum 2.0 approaches 6 million staked ETH milestone

In January this year, Ethereum’s hashrate metric achieved an all-time high of 1.11 PH/s, a prime indication of higher node adoption, and by factor of geography, greater decentralization of the network in the wake of the Arrow Glacier upgrade.

All Dutch and English crypto news!

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Bitcoin (BTC) has been relatively calm during the weekend as crypto traders try to rebuild the markets after the Terra LUNA debacle. With macro factors...

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Bitcoin (BTC) has been relatively calm during the weekend as crypto traders try to rebuild the markets after the Terra LUNA debacle. With macro factors...

Celsius Network’s crypto mining subsidiary SEC filing suggests plans for IPO

Celsius Mining, the mining subsidiary of crypto lending platform Celsius Network, has filed paperwork with the United States Securities and Exchange Commission, or SEC, suggesting...

Analysts flag Bitcoin price levels to watch after LFG sells 80K BTC

Bitcoin (BTC) needs to hold current levels and work to reclaim higher ones to avoid a crash in the $20,000 range, the latest analysis warns.  BTC/USD...

Beste exchanges

Koop je crypto bij Bitvavo