According to data from Glassnode, the total number of Ether (ETH) locked in Ethereum’s Eth 2.0 has surpassed 12.764M as the layer one network inches closer to upgrading to a proof of stake blockchain.
Since Eth 2.0 staking went live in November 2020, 398,000 unique validators have deposited Ether on the beacon chain with 19,800 additional validators onboarding in the past 30 or so days. The total number of Ether staked is now equivalent to 10.73% of the circulating supply and is worth roughly $23.2 billion at today’s prices.
Staking entails depositing 32 Eth to activate validator software. Just like the way proof-of-work blockchains rely on miners to validate transactions, proof of stake consensus mechanism relies on “stakers” to validate transactions by running nodes. This keeps the blockchain secure rewarding stakers with ETH in the process. According to data from Staking Rewards validators are currently receiving 4.14% in annualized rewards for staking on Eth 2.0.
Eth 2.0. also...
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