Recently, crypto space have been attracting a lot of eyes! Why should not it though! Overcoming the obstacle of BTC price and marching to ATH of this year is the talk of the town. Needless to say, the whole market is acting positively, that is a relief in several ways for investors and others who are related to crypto in one way or another. Amidst all this, after BTC we have the second largest crypto ETHEREUM holding its space in maintaining a transformation in its eco system. Which effected its tokenomics, as a result the price got effected, which enhanced sudden price jump within last few days!
Much awaited 2.0
Ethereum’s long-awaited proof-of-stake consensus
It has been one of the most anticipated moment which crypto enthusiast have been waiting for. For the last couple of days/months ETH have been gaining attraction in almost every possible way. Some even were in negative terms. The ultimate GAS fees have been a controversial topic, which made people angry, fearful and what not. For a $10 ETH transfer I have to pay $30-$40 trx fees, come on! That is insane! Which is why, I suppose everyone was looking forward towards ETH 2.0 launch. Which would basically solve a lot of these obstacles for ETH.
After the announcement of ETH deposit contract address going live, it seemed like, it got crypto users like a bomb. Why it got that much attention? You may ask.
Basically if you want to run a node on ETH, you will be required to deposit (aka Stake) an amount of 32 ETH to the deposit contract address announced by developer Afri Schoedon ETH. The network of ETH 2.0 will get into action once the contract address reaches 16,384 validators. Which in terms of ETH, would sum up to 524,288 ETH. While writing this post, the contract address have received a sum of 42,501 Ether. Vitalik started the staking protocol by sending 100 transactions of 32 ETH each to start this journey. Which is quite phenomenon! Within such a short time, this news was appreciated by the crypto community.
Contract address : 0x00000000219ab540356cbb839cbe05303d7705fa , Etherscan.io
What might happen in the next few days?
Ethereum, has been waiting for this moment for a very long time. This could be the game changer that they have been looking upon for all the past days. With this news along, there seem to be shortage of liquid ETH in some exchanges! Can you imagine what might happen once the validators are met according to the criteria. Just make your guess in the comment section below. With this implementation, Ethereum will probably also look over the DAPP adoption which could bring some massive changes to its eco system. We might be on the path to see sth glorious in the coming days for Etheruem holders/investors. What do you think might happen for Ethereum?
This post is not a financial advice of any kind. DYOR!
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Best regards
Rehan
