As of May 2018, staking has reached 5% of the total supply of crypto. This is a major milestone for the blockchain industry as it means more people are interested in participating in the network and validating transactions.
Staking is a process that allows users to earn block rewards for maintaining the network. The what is staking in crypto is an explanation of the process.
- Over 6.6 million ETH have been staked in Ethereum 2.0.
- The annual percentage return (APR) is now at 6.1 percent.
- Proof of stake (PoS) is the consensus mechanism used by ETH2.0.
Upgrades to Ethereum Over 6.6 million ETH have been staked in Ethereum 2.0. The amount of ETH staked represents more than 5% of the cryptocurrency’s entire supply. The ETH2.0 network now has 200K validators, with over 6 million Ethereum staked. The annual percentage return (APR) is now at 6.1 percent. The quantity of Ethereum staking is rapidly growing, and it has already surpassed 6 million ETH.
Furthermore, ETH2.0 is now 5.5 percent of the entire supply of the cryptocurrency trapped in stacking contracts. As previously stated, the APR is approximately 6.1 percent. If the supply of staking grows, its value may fall. The annual percentage return (APR) falls to about 4.9 percent when 10 million Ethereum (ETH) is locked in the deposit contract.
Upgrade to Ethereum Instead than using the conventional proof of work (PoW) method, ETH2.0 uses proof of stake (PoS) as its consensus mechanism. Proof of Work (PoW) is used to achieve consensus in cryptocurrencies such as Bitcoin and Ethereum (Core).
Furthermore, the Proof of Stake (PoS) method only necessitates a little amount of computer resources. Miners are verifying nodes in PoW, while stakes are validating nodes in PoS. PoS requires nodes to stake just a portion of their ETH.
Crypto miners, on the other hand, contributed to the GPU shortage that was originally created by worldwide chip shortages. Nvidia CEO Jensen Huang, an American multinational technology firm, spoke on PoS and the scarcity during this year’s E3 season.
The current state of the Ethereum (ETH) market is as follows:
At the time of writing, the ETH price was trading at $2,293.93, with a 24-hour trading volume of $20,078,015,151, according to CoinMarketCap. In the past 24 hours, however, ETH has risen by 1.01 percent.
Furthermore, there are 116,876,010.31 ETH in circulation. Binance, Tokocrypto, OKEx, Bybit, and Huobi Global are now trading ETH.
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Frequently Asked Questions
How much ETH is staked right now?
What will the total supply of ethereum be?
Does ETH have a max supply?
The Ethereum Foundation has announced that the maximum supply of ETH is going to be 100,000,000.
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