Everyone talks about it on the crypto-sphere: Ethereum cryptocurrency has just started a update Major to permanently improve the problems it faces.
The first transition phase from ETH1 to ETH2, named Beacon Chainstarted 01/12/20. Developed on this long -awaited update by the community.
ETH 2: an inevitable update
Based on proof of work (Pow), the second largest cryptocurrency is preparing to evolve towards a new, more architecture Fast, secure and scalable. Indeed, its current form does not allow it to permanently endure a number of sufficient transactions. Because during certain periods when cryptos were on the rise, the Ethereum network experienced multiple congestion resulting in an explosion of Gas fees.
At the end of its development, Ethereum will pass to a method of validation of the blocks based on the proof of stake. Thus, to secure the network, it will be necessary to block a certain amount in Ethers, to then generate interest by the creation of new tokens. Ethers minors will become ” validators“.
A long crossing of the desert
As you can see, Ethereum 2.0 will not be operational anytime soon. Among the 4 main phases Scheduled to effectively manage this transition, the first is called “Beacon Chain” and has already started. For the beginning of this phase, the Ethereum network needed to find at least 16,384 Validators In front of each locking at least 32 ETH. Thing that has been done, because today, more than 850,000 Ethers were blocked compared to the 524,288 necessary. The craze in front of this first phase turned out to be extraordinary.
During this phase 0, users can start staging their precious Ethers. These will be blocked during the entire update and will generate dividends throughout this. If you believe in ETH potential, this option may prove relevant for you.
How to stike his Ethers on Feel Mining?
We are aware of the challenge that this transition represents, which is why from the December 1styou can start grouping your ETH.
However before we start the procedure to follow, we want to warn you on certain points:
- The minimum storage duration is planned for minimum two years. This duration will vary according to the speed of development of Ethereum.
- The rewards you will generate will be available on the 2.0 network of Ethereum. Thus, the awards acquired thanks to ETH Staking will be available from phase 1.5 or 2 of Ethereum, that is to say not before 2022.
- We cannot guarantee the yield of Staké Ethers. This varies depending on the number of Validators on the network.
To stike your eTh, go to the “Staking” tab in the menu.
As on a classic sting offer, choose the amount of ethers to buy. In addition, by buying ethers with your Euros balance, you will generate Cashback in gold*.
If you already have eTHs, click on the “I already have tokens” button, you will switch to expert mode. If you have not activated this mode, you will have to answer a simple questionnaire attesting your knowledge of crypto.
Currently, the yields are announced to 15.6% per year. However, as said above, this amount will vary depending on the ETH Stakés on the network.
Once your order is validated, you will find your ETH on your feel mining account. Your interests will be credited all 5 minutes And will be available as soon as the new protocol is officially implemented.
Conclusion
A revolution is about to occur: never such an important cryptocurrency has attacked such a big change. At a centralized economy controlled by trusted third parties, validators will become the pioneers of the world of tomorrow.
If you want to know more about the future of Ethereum, find the article of our CEO Chloé Deenfans dedicated to this subject
*In the form of tokens vro
** Offer valid from 04.12.20 to 12.12.20 included
Gael
My favorite subjects? DEFI and Ethereum ecosystem. In the cryptos since 2019, I hope to send you my passion and make you want to explore this technological revolution through my writings.
