Eth2 deposit contract now holds 10% of the circulating ETH supply


Eth2 deposit contract now holds 10% of the circulating ETH supply
The ETH 2.0 deposit contract can only be unblocked after the PoS transition, postponed to the latter half of the year.The deposit contract for staking Ethereum (ETH) on the Beacon Chain reached a balance of 12 million ETH on Friday. The total locked value of Ether in the Eth2 contract is worth about $34.5 billion.The deposit contract was launched in November 2020 and currently holds around 10% of the total circulating supply of ETH.The Beacon Chain is the first major step in Ethereum’s transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus model. A trader must invest a minimum of 32 ETH to become a validator in Eth2. Thus, the largest Beacon Chain contract, valued at $34.5 billion, highlights the enormous demand and trust in the future Eth2, despite several delays over the past year.ETH devs started the community testing of the PoS network in December, however, the tentative merger date of June 2022 was…Full Article https://techyno.com/eth2-deposit-contract-now-holds-10-of-the-circulating-eth-supply/ submitted by /u/C4-PO[link] [comments]from Ethereum https://www.reddit.com/r/ethereum/comments/uf76gt/eth2_deposit_contract_now_holds_10_of_the/
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