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Crypto exchange Kraken announced a settlement with the U.S. Securities and Exchange Commission [SEC] with regard to the former’s on-chain staking program. As a result of this, Kraken has agreed to end its on-chain staking services for U.S. clients. According to the announcement post, these assets will no longer earn staking rewards. The move will […]
Ethereum completed a massive software upgrade that is said to have slashed its carbon footprint and energy usage. (Read More)
According to data from blockchain analytics provider, Santiment, there seems to be a heavy centralization in the new protocol per validator’s count after the Merge of Ethereum. (Read More)
Besides fake ETH 2.0 tokens and malicious token airdrops, crypto users should also be on the lookout for staking pools offering attractive staking yields.
We can now confirm that the Bellatrix upgrade is set for September 6th, with the Merge officially beginning on September 15.
The release of the 2.0 mainnet-ready clients just went live, those running 2.0 nodes are instructed to complete all required upgrades by Sept 6th, when the Bellatrix upgrade will happen.
After this, all that's left is the ACTUAL merge to Ethereum 2.0!
Out of all the milestones behind us, I have to say the the most impressive was seeing how the community came together to meet the requirement of 524,000 Ether deposited in the 2.0 contract in order to launch, and seeing that surpassed by over 400%.
It's safe to say the crypto community is beyond ready for this to happen.
What do you need to do?If you have no idea what any of the above means, you probably don't need to do anything.
Everyone who is simply HODLing some Ethereum can relax, everything will happen automatically.
If you do know what the above means, you probably don't need us to explain anything - the only thing I've seen some people unaware of is that you'll need to have BOTH an execution client (like Besu) and consensus client (like Teku) - so make sure you do, or you'll be pretty useless to the network post-merge.
The Upgrade After the Upgrade...Once ETH2.0 is live, there's already one major change set to happen sometime in 2023...possibly 2024.
As mentioned already, a huge drop in the amount of computing power needed comes with the initial change to ETH 2.0, the following upgrade makes an equally drastic change to the amount of storage space needed.
Combine these two factors, and the doors open for phones and various other low-power computers to run Ethereum. The more devices participate, the more secure the network is.
It's called 'sharding'. In simple terms, if you wanted to operate a node (which is basically the new way to mine Ethereum) it still requires downloading the entire Ethereum ledger, the database of all transactions in the history of Ethereum. Thousands of computers maintaining this record is how 1 person trying to cheat immediately stands out, and fraudulent transactions are rejected.
Currently to mine Ethereum you'll need around 120GB disk space if running Windows, and half that if running Linux. While not a huge amounts for a computer, it's more than most mobile devices.
But with sharding, the database gets split among all the computers on the network. With a network the size of Ethereum, there's no additional security risk as a copy of every portion of the database will still exist on thousands of computers.
For those who want to get more involved...With all the excitement around ETH 2.0, many people are looking to do more, like staking their coins and starting to earn more ETH for participating.
As mentioned, nodes replace miners in ETH2.0 - and many people have an old laptop sitting in a box somewhere that is powerful enough to run one. Because they require significantly less computing power, they also use a significant less amount of electricity. Under the current system of miners, that same laptop probably wouldn't mine enough to cover the electricity costs.
You may be thinking "that sounds great" you may even have an old laptop in the closet collecting dust - well, the bad news is that in order to launch a node there's a requirement to own 32 ETH ($50,000 worth at time of publishing).
The upside is, you won't need to dust off that old laptop - you can participate in a pool. This is where any number of people, dozens, hundreds, whatever, all contribute their ETH towards reaching the required 32 to launch node, with profits split depending on the total percentage someone contributes. Many major exchanges will be running pools, some, like KuCoin are already accepting deposits and paying rewards.
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Author:
New York News Desk
Breaking Crypto News
Vitalik Buterin says at the Ethereum Community Conference held in France on Thursday that Ethereum is just 40% complete. He further elaborates that Ether has plenty more coming after the “merge.” What is the Merge Ethereum network presents the “merge” as below. “The Merge represents...
The post What Is Ethereum Merge? Prepare for the ‘Surge, Verge, Purge, and Splurge’, – Vitalik appeared first on Bitcoin FT.
“Merging Ropsten is a huge testing milestone towards Ethereum's mainnet merge later this year,” said Preston Van Loon, an Ethereum core developer at Prysmatic Labs.
Data shows that there are currently 226,325 stakers accounting for $29.5 billion worth of locked up LUNA which has propelled the network into second place for staked value.
With the evolution of the Ethereum roadmap, ETH 2.0 has emerged as an inaccurate representation, and this has necessitated its rebranding so that a broader audience can comprehend its content. (Read More)
“In the staking market, there was significant latent demand for a decentralized option — it just needed our launch to spark an inferno,” said Rocket Pool general manager Darren Langley.
The Kintsugi testnet has officially launched, marking a significant step towards Ethereum’s The Merge. Previously, on December 20, core developer Tim Beiko announced the launch of the Kintsugi testnet as part of the project’s plan to transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) (PoS). The testnet, as the name implies, is used to experiment with [...]
The post The Merge is Close: Ethereum Releases Kintsugi Testnet appeared first on Blockonomi.
Three months after the major network upgrade of Hard Fork London, Ethereum blockchain today has successfully embarked on another upgrade – the Beacon Chain’s Altair Upgrade. As previously confirmed by the development team, the Altair upgrade finally goes live on October 27th, marking one big step towards the much-awaited Ethereum 2.0. It’s still a long [...]
The post Ethereum 2.0 Altair Upgrade Goes Live, ETH Hits All Time High appeared first on Blockonomi.
Staking provider Lido was also found to be vulnerable to the bug that has delayed the launch of the Eth2 staking service Rocket Pool.
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