Search the Community

Just in, as per info provided by Glassnode Studio, the total locked ETH amounts in the ETH 2.0 deposit contract is more than 3 million which is equivalent to $5.4 billion-plus at the current exchange rate. This much ETH amount from investors will help to secure ETH 2.0 blockchain network. This article attempts to answer a few questions related to ETH 2.0 blockchain networks. Let's get started 😉 ! Image:-Vitalik Buterin, the man with zero haters! What is ETH 2.0? ETH PoW protocol is going to get upgraded to the PoS consensus algorithm-based multi-layers blockchain network, that's the ETH 2.0! Check more here. How huge amounts of ETH amounts in the ETH 2.0 deposit contract will help to secure ETH 2.0 blockchain network? In the PoS-based blockchain networks, the mining power of a miner will be determined according to the number of coins he holds which means more the coins a miner holds, the more will be his ability to mine the transactions so if more ETH holders roll out to stake their coins, they will be more focused to secure the blockchain network because if the price of the coin started to drop, the value of their holdings will also drop. Just locating the current craze and total locked amounts of ETH, it is obvious to say, ETH 2.0 will be far more secure and convenient than the current PoW-based ETH. Is it possible to happen a notorious 51% attack on the ETH 2.0? Nope! A set of malicious miners can not hold massive amounts of valuable ETH which has to be more than the 50% of staked ETH amount and it will just give them disadvantages even they manage to buy such amounts. Everything will be visible to all validators and if something in the blockchain is seen wrong, you know how the price of ETH drop due to bad news in the cryptocurrency markets😂. Let the community know if you have more questions 🙏!