Bitcoin breaks $18000 as rally powers on, all-time high in sight

Cornelia Mascio
Novembre 20, 2020

According to reports from the region, the investment will be made in partnership with Canada-based CanETH, an institutional-grade staking service for holders of Ethererum. Until then, a total of 524,288 ETH must be paid into the deposit contract so that the beacon chain can start as planned. Also, a Dubai based conglomerate is looking to support Ethereum 2.0's launch by plugging in $10 million.

Bison Trails has been breaking down the details of the current addresses that have staked the existing 104,384 ETH into the deposit contract. IBC Group Limited is a private equity investment company that dabbles in real estate, art, and future technologies.

We are very excited by the "Proof of Stake" concept proposed for the Ethereum 2.0 smart contracts and are locking up 20,000 eth which is a one way trip till phase 2.

The report added that Shroff's "CanETH" address will send three tranches totaling 21,984 ETH for a total of 687 validators, now valued at around $10 million.

He added that the ETH lockup shows the firm's confidence in ETH 2.0 and dedication to the beacon chain. The greener and more efficient version being introduced in the second iteration addresses the unsustainably high energy consumption required by the "proof of work" model, making it even more attractive.

The Proof of work Blockchain model uses more electricity than some countries. So, the Proof of Stake model will be both energy efficient and more lucrative for stakers.

Although there is uncertainty in the community about a possible delay of Eth 2.0, in a new Ask-Me-Anything on Reddit, Vitalik Buterin is confident that the launch date can be met. There are still 13 more days to go for the launch (scheduled on December 1).

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