What is The Merge? Ethereum $ETH on proof of stake: Comprehensive guide Ethereum ETH
Ethereum’s native cryptocurrency is dubbed Ether, or ETH. Ether is the largest altcoin; only Bitcoin surpasses it by market capitalization.Proof of stake is a class of blockchain consensus algorithms in which validators vote on the next block before adding it to the chain.
As such, to join Ethereum’s proof of stake, a crypto enthusiast should stake at least 32 Ethers or almost $50,000 by press time. Two months before the mainnet release of Ethereum’s proof of stake, 13,125,461 Ethers are staked in its “deposit contract,” or over $20.6 billion.Technically, Ethereum started its journey to proof of stake in December 2020 with the launch of deposit contracts and the activation of the so-called Beacon Chain, a basic proof-of-stake coordination mechanism.
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