SEC Charges Broker For Not Using Ethereum Smart Contracts
July 21, 2020 2:45 pm
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Millions of eth are getting ready to stake as ethereum 2.0 now nears its launch after more than two years in development.
About 120,000 addresses containing at least some 4 million eth are good to go as soon as Proof of Stake goes out.
That’s an increase of 500 addresses since last month and of about 20,000 addresses since last year.
According to Nansen AI, a blockchain analysis startup focusing on ethereum, roughly 1/3 of ETH in qualifying validator addresses belong to exchanges.
Some 39,000 of the current 118,898 addresses, therefore, are exchanges like COINBASE which itself is getting ready to provide staking services, or Bitcoin Suisse which has stated they will provide custody based staking as soon as ethereum 2.0 launches.
Meaning about 80,000 addresses, containing at least 2.5 million eth, may be ordinary ethereans who can solo stake if they want to increase ethereum’s decentralization.
Unlike Proof of Work (PoW) mining, there is no financial difference between solo staking and custody staking as rewards are distributed to all stakers rather than who finds the block.
There are some differences, however. Obviously in regards to convenience, custody staking might be more professional and probably a just one click thing, with the custodian managing everything for a fee.
But there are also risks in that if Coinbase goes offline for whatever reason or misbehaves, then the penalty is proportional to however many stakers on Coinbase went down with it.
While for solo staking, unless it’s a client problem or an operating system problem, then it would be just you. Thus there wouldn’t be much of a penalty.
In addition, devs will probably launch templates and the like to make solo staking as easy as possible, but you’ll still need to run the node and therefore you’d probably want a cool Raspberry Pi instead of eating your laptop’s CPU.
Thankfully they cost very little, with all of this testable in a live environment, but with fake eth, once the testnet launches on August 4th.
Thus, many who have this 32 eth, which currently costs just $8,000, will probably want to play with the new staking environment to get everything ready for the real thing.
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