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Wednesday

28 July 2021

Ethereum 2.0 Contract Reaches 100,000 ETH Milestone

Ethereum 2.0 Contract Reaches 100,000 ETH Milestone


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A recent post on CryptoQuant by TemptingBeef has confirmed that the number of staked Ethereum on the ETH 2.0 deposit contract has now exceeded 100,000.

This means that the number of staked ETH is now more than 5% of the amount of Ethereum that is currently in circulation.

This will be done by providing scalability to the Ethereum network.

This is a staggering number when compared to the amount of energy that mining currently uses.

It is estimated that bitcoin currently uses more energy annually than entire countries like the Netherlands and Argentina.

Ethereum 2.0 is going to eliminate the bottlenecks that are currently present in the network.

Transactions will be faster regardless of how congested the network is.

As for holders of Ethereum, rest assured that their coins will be safe in the move from ETH 1.0 to ETH 2.0

Just that new transactions will be carried out on the new network.

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