ETH mining still highly profitable despite upcoming Eth2 upgrade
Miners weigh in on lucrative ETH mining payouts as the blockchain eyes a transition away from its proof-of-work consensus in 2021. Ethereum miners continue to enjoy lucrative payouts for their efforts in 2021, while the smart contract blockchain platform edges closer to a move away from its proof-of-work consensus. The past few months have been phenomenal for much of the cryptocurrency space, as the likes of Bitcoin (BTC), Ether (ETH) and various other coins have seen monumental gains in value. The increased volume of transactions and users have also directly benefited the cryptocurrency....
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Ether price declined sharply alongside Bitcoin even as the long-awaited Eth2 mainnet launched successfully. The price of Ether (ETH), the native cryptocurrency of Ethereum, plunged harder than Bitcoin (BTC) in the recent pullback. After reaching an all-time high on Coinbase, the price of Bitcoin fell steeply by over 9% within several hours. In the same period, Ether corrected by over 11%, following a marketwide pullback.The deep correction in Ether comes as a surprise because of the Ethereum 2.0 network upgrade launch. On Dec. 1, the Eth2 Beacon Chain released on the mainnet, marking an....
It is one of the first steps towards Phase 1.5 that will ‘dock’ Eth1 with Eth2. Blockchain security provider Sigma Prime has announced its first merge transaction between the two Ethereum networks.The transaction was made by its Lighthouse client using only Proof of Stake validators, it stated in a March 25 tweet. It added that this was a step towards a 99.98% drop in Ethereum energy consumption, deriving that figure from calculations that compare the current Proof of Work Eth1 with the much more efficient Proof of Stake Eth2.Sigma Prime stated that it is an exciting achievement but still....
But ETH2 is not a new cryptocurrency and the exchange appears to be prepping for Ethereum's transition to Proof-of-Stake. Cryptocurrency exchange Coinbase has added a mirrored version of the Ethereum blockchain's native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10.Dubbed "ETH2," the symbol appeared to have been tracking the original Ether market data synchronously. For instance, the cost to purchase ETH2 came out to be the same as that for ETH. Meanwhile, their market capitalization, volume, circulating supply, and price changes were also....
The U.S. exchange plans to roll out support in early 2021. U.S. digital currency exchange Coinbase has outlined plans for supporting Ethereum 2.0 staking rewards — possibly setting the stage for even wider adoption of the smart contract platform. In an official blog post, Coinbase says it plans to roll out Eth2 staking, trading and conversion services starting in early 2021. Once Eth2 is supported, existing Coinbase customers will be able to convert their Ether (ETH) tokens to ETH2 and earn staking rewards. The company said:"While staked ETH2 tokens remain locked on the beacon chain,....
Bitcoin advocates are celebrating the successful implementation of the Taproot upgrade after block height 709,632. The upgrade was highly anticipated as it was one of the biggest changes since the introduction of Segregated Witness (Segwit) in 2017. After the upgrade was completed, the Bitcoin community discussed the slew of benefits Taproot and Schnorr signatures have to offer and have started measuring Taproot usage as well.
Taproot Has Been Activated on the Bitcoin Blockchain
At 12:15 a.m. (EST) at block height 709,632, at difficulty period 352, Taproot was officially....