Eth2 Beacon Chain Mainnet Launching Today, Ethereum More Decentralized than Bitcoin
The second era of Ethereum begins today with the activation of the Beacon Chain mainnet and staking. Dubbed Serenity, Eth2 will introduce a consensus change and scalability solutions in multiple stages spanning several months. These will cement its position as a leader of dApps and developers’ favorite.
The first phase of Serenity is the Beacon Chain mainnet. It marks the beginning of consensus change away from the limitation of Proof-of-Work to a Proof-of-Stake system where validators are tasked with confirming transactions and securing the network. Already, 27,426 validators have submitted 32 ETH qualifying as the network’s guardians and will receive an annual APR of over 20 percent. At this stage, Ethereum is more decentralized than Bitcoin.
Impact on the ETH Price:
Bullish. Ahead of the last, the Ethereum price is back above $600, at break even with the greenback after reversing last week’s losses. Traders are optimistic of further gains once the staking machine anchoring Eth2 launches successfully.
More market updates on our Blog