As stated by Khurram Shroff, Dubai-based entrepreneur and Chairman of IBC, Dubai's IBC Group is going to stake $10 million worth of Ether.
Through a partnership with CanETH, a Canada-based Ethereum staking service, IBC group will stake a total of 21,984-ETH. Considering that each Validator will have to stake 32-ETH, the Dubai investment firm will represent 687 validators within the Ethereum 2.0 consensus mechanism.
As reported by tradearabia.com, the Chairman of IBC Khurram Shroff said: "We are very excited by the Proof of Stake concept proposed for the Ethereum 2.0 smart contracts and we are locking up 20,000-ETH. This lockup shows our confidence in ETH2.0 and dedication to the beacon chain."
Etherum 2.0 POS is expected to be launched on December 1st, if at least 524,288-ETH will be gathered in the ETH2.0 deposit adress. Currently more than 105,000-ETH have been deposited and are ready to be staked.
Join Ethereum Hodlers Clan on the brand new Torum crypto-focused social network to keep you updated on Ethereum news and earn daily, weekly and special rewards for your engagement. Sign up using my link and earn 75 XTM airdrop after email and phone verification: https://www.torum.com/signup?referral_code=makeitreal
ETH to the moon 🚀🌘 then Lambo
