- The ETH network is going through a significant increase of potential ETH validators in the run-up to the highly anticipated ETH 2.0.
- This will offer a new consensus mechanism and through this, ETH 2.0 will be able to trigger faster and cheaper transactions.
The ETH network is going through a significant increase of potential ETH validators in the run-up to the highly anticipated ETH 2.0. For those that don’t know, this is a new protocol that would leave behind the standard proof of work algorithm of blockchains such as BTC and LTC and to be replaced with proof of stake protocols. This will offer a new consensus mechanism and will help decrease the network complex activity - through this ETH 2.0 will be able to trigger faster and cheaper transactions..
According to a recent tweet published by Glassnode, there are currently more than 115,000 addresses with 32 ETH or more. This represents a significant increase of at least 14% so far in 2020 and making the potential number for ETH 2.0 validators.
How many potential ETH 2.0 validators exist?— glassnode (@glassnode) April 24, 2020
Currently, there are 116,351 #Ethereum addresses that hold 32 $ETH or more – up almost 14% within the last year.
Live chart now available on Glassnode Studio 👇https://t.co/kzjCxzkYEw pic.twitter.com/sVIvS5tfaU
The ETH in question is not a decision that was made in recent times. Two years ago in 2018, the co-founder of ETH, Vitalik Buterin said that users with a minimum hold of 32 tokens will be rewarded once the network switches to proof of stake.
Yes, 32 ETH is the staking minimum in the sharding proposal.— vitalik.eth (@VitalikButerin) June 2, 2018