• Bitfinex launches Ethereum 2.0 staking

    Crypto exchange Bitfinex launches Ethereum 2.0 staking service

    The exchange’s users are now able to earn staking rewards on their ether holdings, supporting the fledgling proof-of-stake version of Ethereum

    The transition to the Ethereum 2.0 proof-of-stake (PoS) blockchain is a long-awaited, and long-delayed, move to deal with the No. 2 blockchain’s growing congestion, which is causing delays and very high transaction costs. It will also be a much more eco-friendly version of Ethereum, which currently burns through almost as much electricity for mining as the entire country of Slovenia uses annually.

  • 1M ETH staked Ethereum 2.0
    Ethereum,  Technology

    More than 1M ETH staked for Ethereum 2.0

    Just 11 days after it struggled to reach the $316 million minimum, the funds stored in the Ethereum 2.0 staking contract are worth more than $611 million

    The launch of Etherereum 2.0’s first version—called Phase 0, or beacon chain—was plagued by numerous delays before the Ethereum Foundation’s lead developer officially called for the launch in mid-September. It launched on Dec. 1.

  • Ethereum 2.0 launches

    Finally, Ethereum 2.0 launches

    The preliminary stage of Ethereum’s long-delayed proof-of-stake blockchain has gone live, with the first block mined

    Ethereum has dominated DApps for years, but the old proof-of-work Ethereum blockchain suffers from significant scalability limitations that, paired with the ongoing decentralized finance craze, resulted in slow transaction processing and high—and sometimes ludicrous—fees for the users of the network. This has pushed more than a few smart contract developers to choose competing blockchains, sidechains, or second-layer scalability solutions.