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Bitcoin - 10. Dezember 2020

Ethereum 2.0: deposit contract receives around 40,000 ETH per day

The ETH 2.0 deposit contract receives around 40,000 ETH each day for its staking.

If the current pace continues, more than 15 million ETH will be staked into the contract by next year around the same time.

There is currently a waiting period for new nodes, as only 28,800 ETH can be spent daily creating new nodes

Ethereum 2.0’s Beacon Chain, which launched on December 1, is off to a good start with more and more users continuing to flock to the platform.

One of the key elements in this advancement in the network has been the adoption of a new verification method, with Ethereum moving from Proof of Work (PoW) to Proof of Stake (PoS).

This change means that users will now have to place their Bitcoin Era review on the network as a guarantee of validation. Previously, it was necessary to have computer software dedicated to mining.

For the initial launch of ETH 2.0 Beacon Chain , just over 500,000 ETH had to be staked on the network for it to reach its minimum level of security. This threshold of 500,000 ETH was reached relatively quickly, with a million ETH being “staked” a few days later.

Deposits keep pouring in

The current deposit contract balance is approaching 1.3 million ETH, with the contract receiving almost 40,000 ETH deposited per day.

Since users must deposit a minimum of 32 ETH into the deposit agreement in order to be eligible for a node , this number will not include users who have less than 32 ETH.

Although users are limited by this requirement, there are already exchanges and services that will allow users to deposit any amount of Ethereum they wish to staking, such as Kraken. Kraken launched its staking service for Ethereum 2.0 just a few days ago and has already placed 100,000 ETH on its exchange. This is a substantial percentage compared to the actual deposit contract.

On Twitter, internet user @antiprosynth posted an interesting statistic showing that the current deposit rate is almost three times the daily issuance rate of ETH. It is difficult to say whether deposits will continue at this rate. If this is the case however, it could create supply problems in the Ethereum market .

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