Since the launch of Beacon Chain last year, much more or more Ethereum (ETH) has been invested in the Ethereum 2.0 investment contract every day. Along with the increasing number of ETH in the network, the valuation has also increased significantly with the increasing price of the cryptocurrency. Today, according to the ETH2 LaunchPad page, approximately 3,493,826 ETH has been staked for the Proof-of-Stake (PoS) period and continues to increase.
More than $ 6.5 billion is staked in Ethereum 2.0
The total number of coins invested in the Ethereum 2.0 investment contract is over 6,544 billion. Of course, the number of coins staked for Serenity or ETH2 will steadily increase as they cannot be withdrawn, at least for the next few years. The interesting thing, however, is that the staking rate of these cryptocurrencies for PoS migration has also increased.
In December, the threshold of 524,288 ETH was needed to launch the Beacon Chain, which serves as the backbone of ETH2 properties. Therefore, since then, more than 2 million ETH have been invested in contracts, showing an increased level of interest and confidence in the transition of the Ethereum network from a Proof-of-Work (PoW) model to PoS.
Overall, Ethereum 2.0 will stop the high transaction fees currently plaguing the current network and promise a better experience for users, including greater scalability. Therefore, the Ethereum community is more optimistic and eager to experience the PoS experience with Ethereum, the second largest blockchain network. Ethereum 2.0 researcher Justin Drake confirmed this in a recent tweet.
Loud and clear! 🙂
The community wants PoW removed ASAP. The EF Eth2 team agrees: merge before sharding.
Let’s ship 🚢 https://t.co/ADkBJJ4PWP
— Justin Ðrake 🦇🔊 (@drakefjustin) March 13, 2021