Ethereum Beacon chain exceeds 300,000 validators, locked over $ 28 billion in ether deposits – Bitcoin News Technology

Ethereum Beacon chain exceeds 300,000 validators, locked over $ 28 billion in ether deposits – Bitcoin News Technology

The Ethereum protocol has reached another milestone as the number of Ethereum 2.0 validators has exceeded 300,000. At the time of writing, the Ethereum 2.0 contract had over 9.6 million deposited ethers worth more than $ 28.4 billion.

Ethereum Beacon chain validators jump over 300,000

for a long time, Ethereum (ETH) Network participants prepared for the transition from a PoW system to a protocol that relies solely on a consensus proof-of-stakeholder (PoS) algorithm.

The Ethereum community runs a parallel system that uses PoW and PoS over the Beacon chain and eventually PoW will be discontinued. Ethereum’s (ETH) value has increased by 107% from the year to date, and ether has increased by 14.1% over the last two weeks. The cost to become a validator today is 32 ethers or $ 94,400 using electricity ETH exchange rate.

The number of Ethereum 2.0 validators has just crossed the milestone by jumping over 300K on 300,702 validators of 28 February. From the first of the year, the number of validators increased by 9.11% from 275,594 validators. Currently, the Ethereum 2.0 smart contract today holds 9.68 million ether deposits worth over $ 28.4 billion. Deposits are regularly added every day to the deposit agreement in the exact amount of 32 ethers per deposit.

The Beacon chain was launched in December 2020 during the Ethereum Serenity upgrade and there are two different types of validators called proposers and attestors. While the proposers support the forging of new blocks, the verifier confirms the block transactions. Instead of miners’ sets receiving ethereum block prizes, validators are rewarded for investing through the Beacon chain.

Ethereum’s Hashrate reaches record highs, Arrow Glacier drops mining difficulty bomb

Currently, Ethereum mining pools operate at the highest levels during the life of the Ethereum network. Ethereum’s total hashrate today it is 1.08 petahash per second (PH / s) or 1,082,043,832,616,262 hashes per second (H / s). Hashrate calculations were performed using the average ether block time and network mining difficulties.

While the number of deposits and ETH validators are growing, no one is sure exactly when the full transition to a PoS based Ethereum 2.0 system will happen. In December 2021, Arrow Glacier dropped a bomb with mining difficulties, which would make miners unable to mine via PoW. The weight bomb or motivated transition to PoS has been delayed until June 2022.

Labels in this story

Beacon Chain, Beacon Chain validators, Changing consensus, difficulty bomb, ETH, ETH 2.0 validators, ether, Ether PoS, Ethereum (ETH), Ethereum 2.0 validators, Ethereum protocol, Hashrate, PoS, PoS transition, PoW, PoW to PoS, technologies, Validators

What do you think about the milestone of the 300K Ethereum validator? What do you think about the upcoming transaction on Ethereum 2.0? Tell us what you think about this topic in the comments section below.

Ethereum Beacon chain exceeds 300,000 validators, locked over $ 28 billion in ether deposits – Bitcoin News Technology

Jamie Redman

Jamie Redman is a news anchor on News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for News about disruptive protocols appearing today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); = id;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

Source link

Leave a Reply