Why Ethereum Mergers Love Lido - BitcoinEthereumNews.com
EthereumBakit Nagustuhan ng Ethereum ang Lido04 / 30 / 2022Balita ng Ethereum ng BitcoinAng Decrypting DeFi ay ang DeFi email newsletter ng Decrypt. (sining: Grant Kempster) Ethereum core developer Tim Beiko took to Twitter on April 12 to ipahayag that the number two crypto network had entered the “final chapter of [proof-of-work].” If you‘re not already up to date on this event, called “the merge,” here’s the scoop: Ethereum is transitioning to a different consensus mechanism called proof of stake (PoS). Instead of building and maintaining massive farms of computers in the Siberian tundra to maintain your crypto network, PoS-based networks leverage economic incentives. To join, you simply need to purchase and stake the network‘s native cryptocurrency. By staking and performing your validating duties correctly, you’re rewarded with a yield. But if you process fraudulent transactions or fail to accurately validate blocks on the network, you can lose some of the money you have staked (this is called “slashing,” by the way). And though Ethereum hasnt made the transition, the ability to stake ETH has been possible since December 2020. According to data from Dune Analytics wizard hildobby, there has been nearly 12 million Ethereum staked (roughly $34 billion at todays prices). This currently makes up little