Tag Archives: Proof of Stake (PoS)

After a months-long wait since the Merge, Ethereum developers have set a target date for the network’s highly anticipated Shanghai hard fork.  The upgrade will enable the network’s stakers to withdraw their locked Ether (ETH) for the first time since December 2020.  Withdrawing Staked ETH During a recorded call among core developers on Thursday, devs set April 12 as their target date for “Shapella” – the dual upgrade enabling ETH withdrawals. Shapella is a combination of the...

Bitcoin fell back to $22,000 on Thursday shortly after the Securities and Exchange Commission (SEC) laid charges against Kraken for the unregistered offering of its staking services.  Kraken agreed to halt the service and pay $30 million in disgorgement, prejudgment interest, and civil penalties, without admitting to or denying any wrongdoing.  According to the SEC’s press release, by letting users hand over their cryptocurrency in exchange for a promised return, Kraken’s...

21Shares announced the launch of first-of-its-kind crypto staking index ETP focused on proof-of-stake-based coins. Dubbed 21Shares Staking Basket Index ETP (STAKE), the product will essentially provide exposure to staking rewards while tracking the performance of underlying staked coins via a single ETP. World’s First Crypto Staking Index ETP According to the official press release, the index will track ten crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos...

Open source and decentralized protocol ssv.network DAO has launched a $50 million Ecosystem Fund dedicated to supporting the development of Distributed Validator Technology (“DVT”) based applications. According to a press release shared with CryptoPotato, the project secured the funds from various industry investors, including DCG, OKX, HashKey, NGC, Everstake, HackVC, GSR, Chorus.One SevenX, and 1kx. ssv.network noted that the fund is the first to be dedicated solely to DVT...

Ethereum now has over 500,000 validators keeping the network secure ahead of its highly anticipated Shanghai upgrade, scheduled for March.  The upgrade will allow such validators to withdraw their ETH from Ethereum’s staking contract – some of which has been locked up for years. Ethereum’s Surge in Validators According to data from BeaconScan, Ethereum’s validator count topped 500,000 as of January 12 2023. It registered at 501,893 as of Monday.  A “validator” is a user...

Former Twitter CEO Jack Dorsey’s latest tweet did not sit well with the Cardano creator, Charles Hoskinson, who squarely aimed at the Bitcoin proponent and said the Merge will kick off an “era” where all proof-of-stake (PoS) networks will be unfairly categorized as being similar to Ethereum. His tweet read, “Now begins the Era of everyone assuming that all Proof of Stake works like Ethereum’s Proof of Stake. The maxis will attack Cardano for slashing and label all the...

Sam Padilla – a Web3 Customer Engineer at Google – said the world’s largest search engine launched a countdown clock that shows when exactly Ethereum’s Merge will be complete. The second-biggest cryptocurrency protocol is on its way to shifting from Proof-of-Work (PoW) to Proof-of-Stake (PoS), something unseen in the industry so far. The move is expected to be finalized on September 15. Ethereum’s shift to PoS, known as “the Merge,” has gathered significant attention as many...

Ethereum, the world’s second-largest cryptocurrency, is all set to discard its energy-intensive proof-of-work consensus mechanism sometime next week. While ETH’s price could potentially decouple from other cryptocurrencies post Merge, staking yields is expected to catalyze institutional adoption, Chainalysis said in its latest report. On the other hand, it may be a difficult road for the existing miners on the network. Uptrend in Institutional Stakers As per Chainalysis, the...

Swiss-regulated SEBA Bank on Wednesday launched Ethereum staking for institutional investors. The development comes only days before the much-anticipated Merge that will transition the second-highest valued blockchain network to Proof of Stake (PoS) from the Proof of Work (PoW) mechanism of transaction validation.   Institutional Access to ETH Staking   The transition is likely to take place sometime between September 10 and 20, with September 15 being referred to as the...

With the mining era slowly coming to an end, the world’s largest Ethereum mining pool – Ethermine – has launched a staking pool service for users. To become a validator on the Ethereum network, users must invest 32 ETH. But Ethermine’s new service, dubbed – Ethermine Staking – offers a workaround. It aims to let members of the pool collectively stake their Ether (ETH) and also earn interest after the transition of Ethereum’s consensus mechanism from Proof-of-Work (PoW) to...