Sunday, July 25

proof of stake

eth, Ether, Ethereum 2.0, Ethereum network upgrade, JPMorgan, Markets, MI Exclusive, proof of stake, staking

More than $13 billion worth of ether has been staked on ethereum 2.0 as momentum builds behind the network overhaul

Ether is the cryptocurrency of the ethereum network. Photothek/Getty Images Ether holders have "staked" more than $13 billion worth of the cryptocurrency on the ethereum 2.0 network, as excitement builds around the overhaul of the system and the potential growth of the staking industry.Network users have now staked more than 6.1 million ether, up from 5.3 million a month earlier. The total value of the staked ether was around $13.52 billion at Monday's price, data from Etherscan showed.The ethereum blockchain is going through some major changes, collectively known as ethereum 2.0.At the centre is an overhaul of the way the network is secured and coins are created, from a "proof-of-work" system to a "proof-of-stake" system. Under proof-of-stake, users put forward-or "stake"...