wallet adds support for ETH 2.0 staking

To participate in ETH 2.0, users must block 32 ETH for staking.

“Staked will launch a validator node for them, making it easier for non-technical users to participate, so no additional action is required on their part,” CEO Skyescrm said.

Users will receive a validator reward in ETH, however, they will not be able to withdraw coins until the rollout of the second phase of ETH 2.0, which could take several years. Recall that earlier this week, the deposit contract of the second version of the Ethereum protocol attracted 1.16 million ETH (~ $ 689.99 million), which is equivalent to 1.02% of the market supply of the second largest cryptocurrency.

Why are these changes so important?

Exactly, but why are ETH developers updating the web? We already translate!

Since its release in 2015, Ethereum has grown to become the most used programmable blockchain in the world. Who knows, maybe it even exceeded the original expectations of Vitalik Buterin, the initiator of the project?

But Ethereum became a victim of its success in 2017. The interest was so great that the network began to clog (the same thing happened with the Bitcoin blockchain). The developers decided to act: improve scalability so that the network can use its full potential.

Ethereum can only handle around 15 transactions per second. For comparison, Visa processes about 1500. In addition, mining – that is, the verification of these transactions – is energy-intensive. This is a general disadvantage of proof-of-work blockchains, which require the mining process to be energy-intensive for safety reasons. The idea is that the cost of the attack is 51 percent. per network was so high that it would not pay off in practice.

However, Ethereum needs to be scalable while still being secure and decentralized. It turns out to be real.