Staking – the practice of providing one’s tokens to help operate and secure a network, usually in exchange for rewards – is rapidly becoming a substantial ecosystem of its own as the number and market capitalization of cryptocurrencies using a “proof of stake” (PoS) consensus mechanism to verify transactions continues to grow (in contrast to electricity-intensive “proof of work” chains like Bitcoin). Staked / Kraken’s State of Staking Q2 report cataloged a number of impressive growth stats. While proof of stake’s share of the total crypto market cap increased only 2% quarter over quarter to 23%: The value of staked assets rose 61% to $68 billion Market cap of the…
-
-
A Rising Star: Terra (LUNA)
How Terraform Lab’s cryptocurrency rose to tenth highest in market cap
What is LUNA? Terraform is the parent company of the cryptocurrency asset LUNA. Recently, the coin saw a surge in both price and market cap, passing up popular cryptocurrencies like Shiba Inu, Doge, and Avalanche. Terra’s website describes LUNA as a “decentralized reverse asset”. The Terra network effectively uses algorithms to generate stablecoins that correlate in price with other assets, like fiat and gold. The entire purpose of the network is to eliminate some of the volatility often associated with assets in the crypto space. LUNA is another coin that people label as an “Ethereum Killer” much like the 5th ranked crypto, Solana, and the 12th ranked crypto, Avalanche. All…
-
Is Solana The Ethereum Killer?
A Comparison of Two Crucial Coins in The Crypto Market
Next to only Bitcoin, Ethereum (ETH) is the second most popular cryptocurrency in terms of market cap. It holds one of $470 billion, as of 10/27/2021, which is significantly larger than that of many Fortune 500 companies, including Netflix or Walt Disney Co. Vitalik Buterin created ETH in July of 2015, and since then the coin has seen significant growth, with an active community and team of developers who continue to find and fix problems within the ETH blockchain. Solana (SOL) is a coin that has gained massive traction in 2021, founded by Anatoly Yakovenko in 2017, and many say that it will trump ETH in time because of how…
-
ConsenSys, Securosys launch secure ETH 2.0 staking system
The firms have developed a hardware-based system for creating Ethereum 2.0 withdrawal keys securing long-term ether stakes
By combining Switzerland-based Securosys’s Hardware Security Modules with ConsenSys Codefi’s staking technology, the companies said they can generate Ethereum 2.0 withdrawal keys that can safely be stored and managed to protect staked ether during the transition from the Ethereum to Eth 2.0 blockchain.
