Značka: Staking

Eth2's Rocket Pool reaches $350M TVL and 635 node operators in five weeks

Rocket Pool, a decentralized Ethereum 2.0 staking platform has surpassed $350 million worth of total value locked (TVL) within five weeks of its official launch. The project aims to remove the barriers to entry for Eth2 stakers and node operators. It allows any user to run a node for 16 ETH ($59,000), which is half of the 32 ETH ($119,000) required in the Eth2 deposit contract. Users with as little as 0.01 ETH can also stake their funds and receive yield. According to data from DefiLlama, Rocket Pool has surged up the decentralized finance (DeFi) staking platform rankings to sit at third with a TVL of $355.64 million at the time of writing. The project is currently behind the Keep3r Network at $584.34 million, and Lido Finance in first place with $6.04 billion. Lido Finance was launched in December 2020 and currently towers over its competitors in terms of TVL however, it only had 14 node operators as of Q4 2021. In comparison, Rocket Pool has around 635 node operators which the platform says contributes more to the decentralization of Ethereum. Around 67,000 ETH worth more than $252M is staked, with the remainder of the TVL from the platform’s own token RPL. StakingTVL: Ξ94.1k (+1.5%) – $345.4MStaking Pool: Ξ1.48krETH Price: Ξ1.0096 (4.3% APY)Average Commission: 12.24%️ NodesRegistered Nodes: 634Staking Minipools: 2.07kETH Validator Share: 0.75%Commission: 15.51%RPL Price: Ξ0.0112RPL Staked: 2.37M (Effective 2.30M) pic.twitter.com/SjYbQXr1rY— Rocket Pool Network Bot (@RocketPoolBot) December 30, 2021The project officially kicked off on Nov. 22 after a successful Beta launch two weeks prior that saw Rocket Pool register 237 node operations with a total of 1,088 staked Ether (ETH) in the space of two days. The project touts its decentralization, liquid staking pool, commissions and staking rewards as its major selling points. and the platform also enables users to stake their ETH and receive the rETH token against their holdings, which also accrues staking rewards over time. Speaking with Cointelegraph, Rocket Pool general manager Darren Langley cited the platform’s decentralization as a key reason for the platform’s strong launch, noting that: “In the staking market, there was significant latent demand for a decentralized option — it just needed our launch to spark an inferno.”“If you respect the principles of Ethereum you will stake with a decentralized pool. From Ethereum’s perspective, a decentralized pool is as secure as solo staking. Operational decentralization is extremely important,” he added. Questioned on how Rocket Pool is gearing up for the long-awaited transition to Eth2 and a proof-of-stake (PoS) consensus mechanism slated for mid-2022, Langley stated that it would provide many opportunities for the users. “Liquid staking will become more profitable after the Merge so we are expecting a surge in interest,” he said and added that “validators will start receiving priority fees that PoW miners are currently receiving.”Related: A fair comparison? Ethereum growth outpaces Bitcoin in 2021Looking forward to 2022, Langley also noted that the company hopes to ramp up the adoption of its liquid rETH token and expand the services on the platform.“We want rETH to be ubiquitous across the Ethereum ecosystem so we are focused on DeFi integrations (AMMs, lending, wallets, farms). Additionally, we will work to leverage layer-two to optimize aspects of Rocket Pool.”

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Coinbase adds 'ETH2' despite tomorrow's Ethereum upgrade postponing difficulty bomb

Cryptocurrency exchange Coinbase has added a mirrored version of the Ethereum blockchain’s native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10.Dubbed “ETH2,” the symbol appeared to have been tracking the original Ether market data synchronously. For instance, the cost to purchase ETH2 came out to be the same as that for ETH. Meanwhile, their market capitalization, volume, circulating supply, and price changes were also identical.Coinbase is already promoting eth2 as a new coin? pic.twitter.com/C67UxooLU0— Nuno (@nvcoelho) December 6, 2021Nonetheless, unlike the original, the ETH2 token had no Trading Activity, Popularity Score, or Typical Hold Time, underscoring that its role — for now — is to merely track the ETH market data at least until mid-2022.ETH vs ETH2.0 market data. Source: CoinbaseThat is probably as ETH2 seems to have been posing as the native token of Ethereum’s ongoing upgrade, dubbed Ethereum 2.0, which expects to go live fully by June 2022. But the Coinbase’s index listing appears closer to “Arrow Glacier,” a fork that would give developers more time to prepare for Ethereum 2.0.Before Ethereum 2.0The Arrow Glacier update aims to delay a so-called “difficulty bomb,” an incentive hardcoded inside the Ethereum blockchain since its launch in 2015, which would make it difficult for people to mine Ether. In doing so, the BOMB, if triggered, would slow down the Ethereum network, for as long as it remains proof-of-work.Tim Beiko, one of the core developers working on the Ethereum upgrade, noted that Arrow Glacier might be the last upgrade before Ethereum 2.0 goes live next year. Meanwhile, Coinbase appears to have been treating the Arrow Glacier fork as a confirmation that they would exist a new token called ETH2 after the Ethereum 2.0 upgrade.In detail, Ethereum 2.0, also known as “Serenity,” would enable significant changes to its design, including a full-scale transition from energy-intensive Proof-of-Work (PoW) — also used by Bitcoin (BTC) — to Proof-of-Stake (PoS).In the current version, nodes must validate every transaction to maintain Ethereum’s public ledger. But the Ethereum 2.0 upgrade would launch “sharding,” which would divide the network into various segments (called shards) and would randomly assign nodes to each shard. Beacon Chain and Sharding. Source: Vitalik.caThat would remove the need for each node to scan the entire chain, theoretically improving the speed and costs required to maintain the network. Meanwhile, individual shards would share the transaction details with a so-called Beacon Chain, which serves as the backbone of Ethereum 2.0.ETH2 is not a new cryptoBeacon Chain, which went live in December 2020, would validate the transactions on each shard, thus assisting the entire Ethereum 2.0 network reach consensus. It would also detect dishonest validators and initiate penalties by removing a portion of the validator’s stake from circulation.Related: Vitalik Buterin outlines ‘endgame’ roadmap for ETH 2.0At the core of Ethereum 2.0’s PoS design would be ETH (or ETH2), which primarily serves as a staking token for validators to participate in the network consensus and, in turn, to receive block rewards for it. Beacon Chain’s deposit contract has received over 8.42 million ETH tokens from 55,300 unique depositors (validators) since its launch in December 2020.The balance of the Ethereum 2.0 deposit contract divided by the total ETH supply. Source: CryptoQuantThat being said, ETH2 is not a new coin and would not change the ETH amount one holds. Instead, as Coinbase’s index listing suggests, ETH2 may end up becoming a rebranded version of the original Ether, without needing holders to swap one version for another.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Traders say ATOM could eventually do an AVAX-like surge to $100

Cosmos (ATOM) has the potential to record major gains in the upcoming weeks primarily because its longer-timeframe chart is showing a bullish continuation pattern. Dubbed “bull flag,” the structure appears as the asset trends lower while bouncing between two downward sloping trendlines. However, it eventually breaks out of the range, in the direction of its previous trend, with a profit target at length equal to the size of its previous uptrend which is also known as the flagpole.ATOM/USD weekly price chart featuring Bull Flag setup. Source: TradingViewTherefore, in a “perfect” world, if ATOM is to break above the flag’s upper trendline (with a rise in trading volume), it may rise by as much as the flagpole’s height around $35. This sets a price target near $65 as when measured from the current potential breakout point.Nearly 64% of ATOM’s total supply is stakedThe bullish setup in ATOM appeared as the token rose over 330% from its June low at $7.82 to this weeks swing high near near $32.Circulating token scarcity could be playing a role in driving buyers into the market. Data fetched by Messari showed that nearly 64% of the current ATOM supply is staked.ATOM staking data. Source: MessariAccording to data, Cosmos investors have staked over 180 million ATOM tokens to become validators on its ‘Cosmos Hub,’ a proof-of-stake blockchain that constitutes one of many hubs on the network. In return, users receive a portion of the network transaction fees and block rewards.Pentoshi, an independent market analyst, noted that the rising number of staked ATOM tokens have been instrumental in pushing its price upward. The pseudonymous Twitterati added that ATOM sellers have been losing momentum, citing two corrections during the fourth quarter that got stopped midway due to a higher buying pressure near the token’s previous all-time high levels.ATOM/USD daily price chart by Pentoshi. Source: TradingViewAccording to the analyst, ATOM is seeing clear:”Signs of absorption”Related: Price analysis 12/1: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIBAvalanche fractal highlights ATOM’s potentialAnother analyst, known by the pseudonym ‘Bluntz,’ anticipated that ATOM would continue its rally upward based on similar gains posted by one of its top blockchain rivals, Avalanche (AVAX), earlier this year.Like Pentoshi, Bluntz views ATOM’s chance of revisiting its previous record-high as a base to continue its bull run. In a similar setup, AVAX rallied by nearly 250% after finding a solid footing inside the $50 to $60 support area.ATOM/USD vs AVAX/USD daily price chart by Bluntz. Source: TradingViewAccording to Bluntz, ATOM could easily hit $100 in the medium-term.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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