The deposit agreement for the Ethereum 2.0 Beacon Chain – the epicenter of ethereum’s architecture that is new now holds over 3,000,000 ETH, worth over $5.5 billion at current rates.
Per information from Etherescan, there are some 3,062,210 ETH (+6.29%) locked into the agreement.
The contract established at the start of last November and within three weeks it had guaranteed the threshold that is necessary of to lock in the Beacon Chain’s launch, which happened in the first week of December 2020.
The Beacon Chain is a connection network involving the present Ethereum network and Ethereum 2.0; if the time comes, the Beacon Chain may help “dock” the existing mainnet onto 2.0 to guarantee the network’s migration that is complete.
Unlike the Ethereum that is current blockchain Ethereum 2.0 utilizes proof-of-stake where “validators” replace miners to process transactions. An Ethereum user must stake 32 ETH into the deposit contract by way of a validator node to make the name of validator.
Exchanges like Kraken and Coinbase and wallets like MyEtherWallet additionally facilitate custodial staking due to their consumers by running a validator node for the kids. Coinbase (whoever staking is forthcoming) and Kraken enable users to stake any amount, not only the 32 ETH needed by Ethereum 2.0’s rules.