Ethereum staking has been growing in popularity ever since "The Merge," which occurred on September 15th, 2022.

21 Sep 2023, 14:53

Ethereum staking has been growing in popularity ever since "The Merge," which occurred on September 15th, 2022. Today roughly 20% of #Ethereum's circulating supply is staked. Let's deep-dive into Ethereum staking as the 2nd part of our educational series. ETH 2.0 was a transition to a PoS consensus model that took place in multiple phases. The Merge signified the complete transition of Ethereum to a PoS blockchain. Before the Merge, the beacon chain operated independently from the Ethereum main chain. Staking is the process of "locking up" cryptocurrency in a smart contract to help maintain the security and integrity of a blockchain network. Stakers earn rewards for adding new blocks to the blockchain and are chosen randomly to propose and validate blocks. 🧱 What is a Staking Validator? A staking validator participates in a PoS blockchain network that uses their cryptocurrency holdings to secure the network. To become a staking validator, you must set up a validator node and deposit 32 ETH. 🤖 In PoS, validators are selected based on their staked cryptocurrency. Their stake is at risk of being slashed if they act maliciously or inaccurately. Validators earn rewards through transaction fees for validating transactions & adding new blocks to the blockchain 🎁 To become a solo-staker validator on the Ethereum network, a staker needs 32 ETH, a dedicated computer with 24/7 internet connectivity, specific software, and some technical "know-how." Staking pools help mitigate the risk of running a validator node, such as downtime, software bugs, or poor connectivity🐛 Staking pools handle the technical aspects of staking and provide a user-friendly interface for stakers to track their rewards. Another benefit is that most pools have removed the 32 ETH requirement to stake 🌱 Liquid Ethereum staking is a product offered by many different Ethereum staking pools. These pools provide stakers with a ‘liquid’ token that represents their staked ETH and rewards. The liquid token can be traded on exchanges and used in #DeFi ecosystems. What are ETH Staking APRs & APYs? 🤔 The ETH staking APR & APY depends on the current market conditions & the amount of ETH staked. The current base staking APR is around 4% but depends on factors including the amount staked & the time over which returns are compounded. The Bottom Line Ethereum staking is a way for ETH holders to earn more ETH by validating transactions. Staking pools can help stakers earn higher rewards and mitigate the risks of running a validator node. 🏊‍♂️ Read more below

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Vara NetworkVARA #798

21 Sep 2023, 15:08

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Attention Vara Community,.