Tag Archives: Proof of Stake (PoS)

Figment – a company that provides blockchain infrastructure and protocol staking – announced a $110 million Series C fundraise at a $1.4 billion post-money valuation. The investment was led by Thoma Bravo – an American private equity and growth capital firm. Figment to Work on the Web3 Ecosystem Apart from Thoma Bravo, the funding round was supported by many other giants in the financial field. These include Counterpoint Global (one of Morgan Stanley’s equity teams), Binance...

The veteran US exchange Kraken has added Cardano (ADA) staking as of May 4th. This comes amid the growing interest in the cryptocurrency, the price of which has been on a roll since the start of the year. Staking in the cryptocurrency world requires the token holders to lock a certain amount of coins based on the proof of stake algorithm or any of its varieties. As such, they receive the right to vote and participate in the governance of the network and get rewards in new...

The Ethereum Network recently saw the official launch of the Beacon Chain, which is a stepping stone to the long-awaited Ethereum 2.0 upgrade, aiming to improve network speed, efficiency, and scalability. It’s a move by the Ethereum foundation to abandon the Proof of Work (PoW) consensus algorithm for the energy-efficient Proof of Stake (PoS) consensus algorithm. On top of that, we have to change terminology from having miners to having validators.Ethereum 2.0 hopes to improve transaction...

Just hours before the launch of Ethereum 2.0, Coinbase, America’s leading cryptocurrency exchange, decided to give a warm welcome to the evolution of the world’s largest blockchain after Bitcoin.Now, traders and hodlers waiting for the ETH2 upgrade had confirmation from Coinbase that the exchange would enable an ETH2 currency staking service. Of course, being a non-contentious upgrade, Coinbase also guarantees the trading of these new tokens.Stake —and trade— ETH2 in CoinbaseThe Coinbase team...

Blockchain development studio Dapper Labs recently announced a major advance towards the launch of the mainnet for its Flow blockchain. As of November 27, 2020, users will be able to experience Flow Port to interact with their products.Dapper Labs is the development group responsible for Crypto Kitties – the most famous collectible application of the crypto-verse at the time – and NBA Top Shot, an NBA-licensed collectibles dApp.Flow: The Next Big Thing Since CryptoKittiesFlow is the most...

The growing trend of cryptocurrency staking has reached the multi-asset platform eToro. The company announced today that it will launch a staking service this month. The first two assets available will be Cardano (ADA) and TRON (TRX).eToro To Enable Crypto StakingCryptocurrency staking requires the investors to “lock” a certain amount of coins based on the proof-of-stake consensus algorithm or many of its varieties. Investors typically receive the right to vote and participate in the...

Proof of Work, a consensus mechanism, has proved to be the backbone of some of the leading and widely-adopted blockchain networks. These include Ethereum, Litecoin, and, of course, Bitcoin.Many from the blockchain industry have wondered how come Proof of Work (PoW) remained so resilient over all these years. Some are even baffled by its resilience as it has withstood a long list of challenges like growth, performance, and security issues over the years.Key Takeaways From 5 Years of PoWThe...

Phase 0 of Ethereum 2.0 has been running full nodes on the Topaz testnet for months. However, the first block on the highly anticipated Beacon Chain has been mined and validated in mid-April. The first testnet was called Sapphire, and it was a scaled-down version that successfully tested smaller 3.2 ETH deposits.Topaz went live with testing full 32 ETH nodes in May, and the Onyx testnet was launched in mid-June. According to Prysmatic Labs, who have been conducting a lot of the testing, Onyx...

The highly anticipated upgrade from ETH 1.0 to ETH 2.0 has been in the pipeline for a couple of years now. The initial phase, Beacon Chain, has been running full nodes on testnet since May, and staking rewards are being paid out to validators testing the new platform.The mainnet launch is unlikely to happen until later this year at best or even early 2021. A recent report has taken a deep dive into the economics of ETH 2.0, and it appears that many holders of the world’s second-largest...

The US-based cryptocurrency exchange Coinbase has extended its staking services for Tezos (XTZ) to users from a few European countries. The price of the asset has increased by nearly 6% since the announcement yesterday.Europeans To Stake XTZ On CoinbaseAs CryptoPotato reported before, Coinbase added Tezos staking in late 2019 for users based in the US. Since then, the company said that customers had earned over $2 million in Tezos staking rewards.Now, the cryptocurrency exchange announced the...