Tag Archives: Proof of Stake (PoS)

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...

Analysts of prominent investment bank JPMorgan believe that Coinbase will be meaningfully benefitted from the upcoming Merge. In a note to the clients on Wednesday, analyst Kenneth Worthington said that the San Francisco-based crypto exchange has taken concrete measures in a bid to maximize the value of ETH staking for its clients. This is expected to result in higher revenue generation itself. Worthington asserted, “We see the staking revenue opportunity bigger...

Brian Armstrong – CEO of Coinbase – stated on Thursday that he would refuse to censor the Ethereum blockchain using his platform’s concentrated stake in the protocol.  If compelled by the government to do so, he’d rather shut down the service. Armstrong made his intentions clear in response to an Ethereum developer’s question concerning the centralization of staked ETH. According to Dune Analytics, 66% of ETH staked on the beacon chain is held by entities that are regulated...

Proponents of the Ethereum fork are gearing up to eliminate the pivotal EIP-1559. An Ethereum miner, which gained allies from many prominent figures and firms in the industry, has now published an open letter to the community. The Twitter account of the proposed chain-split fork – EthereumPoW –  said that the once “almighty” Ethereum Foundation has abandoned “decentralization” as part of its missions as the transition towards proof-of-stake (PoS) neared. Goals In a long...

Earlier this week, a pull request was submitted by an Ethereum DevOps engineer for the Ropsten testnet Merge configuration code that can be seen in the GitHub repository. For the uninitiated, the Ropsten testnet was created by Ethereum Foundation nearly five years ago and is considered one of the best replicas for the Ethereum blockchain. The Merge The merge, which marks the end of the PoW-style architecture, will essentially combine the two layers in a single PoS-based...

The Proof-of-Work (PoW) consensus mechanism, which relies on crypto mining to validate transactions, is a pioneering concept that, in fact, pre-existed Bitcoin. But it is often criticized due to its environmental impact. Many proponents of clean energy consider high energy consumption to be an “Achilles Heel” for Bitcoin. The latest to weigh in on the matter was Solana’s co-founder, who gave his two cents on why BTC should make the transition. Anatoly Yakovenko, the...

Staking on Beacon Chain has been booming due to the much-awaited Ethereum Merge despite delays. A major chunk of new stakers on the consensus layer have done so using Lido Finance. In the latest blog post, the project revealed that 75% of new stakers on the Beacon chain who joined in the last 30 days had utilized the staking protocol. Centralization Concerns With the Ethereum Merge approaching, staking on the Beacon Chain has intensified as expected. According to Lido, the...

The deposit contract for staking on Beacon chain – the blockchain providing the spine of the Ethereum 2.0 ecosystem – has now collected over 10 million ETH. That’s $26 billion of staked value at current prices. Ethereum 2.0 is a long-awaited Ethereum upgrade that will convert Ethereum’s consensus mechanism from proof of work to proof of stake. Beacon chain will be the core of the Ethereum 2.0 chain, which is set to merge with the existing Ethereum chain and replace miners by...

As Terra ascends the ranks of the top ten cryptocurrencies, its popularity as a yield generator continues to soar. It is now the second most staked crypto by value, surpassing even Ethereum 2.0. Staking VS DeFi To be clear, this “staked” value does not refer to the “total value locked” in the DeFi protocols on various blockchains. Ethereum still dominates in this arena, with $110 billion locked out of the total $200 billion across all of DeFi.  Terra remains at a distant 2nd...