eth 2.0 The New ATH of Total Value in the ETH 2.0 Deposit Contract

[Whited35 15285]

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 🙏!

[Dang3r 103]

I have a somewhat basic question, to what extent or ratio will the pools intended to distribute the profits for mining ETH be configured, I mean what percentage or power could be obtained, for example if I allocate 1 ETH my mining power would be equivalent to how much ?

 

I looked for information on this but the data that I managed to find is somewhat confusing about it

[yonkii 3205]

On 2/14/2021 at 5:47 PM, Whited35 said:

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😂. 

I find this a very strong argument in the new Ethereum model using proof of stake instead proof of work.

It does eradicate the chance of a 51% attack which is the biggest threat for blockchain networks and proves that there can be a system that is environmentally friendly with limited Co2 emissions. With $5.4 billion staked in Ethereum it means that the attacker will require to put more than that to control 51% of the network, and for a reason that will collapse the price to zero, and I don't think there is a crazy billionaire that wants to lose a few of those billions just to prove that a blockchain can be attacked and that Ethereum is not secure.

[Whited35 15285]

On 2/15/2021 at 6:22 AM, Dang3r said:

I have a somewhat basic question, to what extent or ratio will the pools intended to distribute the profits for mining ETH be configured, I mean what percentage or power could be obtained, for example if I allocate 1 ETH my mining power would be equivalent to how much ?

Hey, staking pool might offer you reward up to 10%(Annual basis rate) which means, if you stake 1ETH to the staking pool, you will receive around 0.0073 ETH monthly and 0.0878 ETH yearly but remember, the reward percentage will depends on the number of validator joins the network. Early stakers would have already managed to receive up to 20% staking reward.

Edited February 16, 2021 by Whited35

[Ridam 7455]

On 2/14/2021 at 9:32 PM, Whited35 said:

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😂

That's why there is no point in running a attack to the Ethereum if we see from the price prespective. Just like as you have said the price drops if we see any illicit movement in the market so anyone who attempts to launch the attack and invest huge money to buy Eth will end up in loss nothing more than that.

And looking from the Security prescpective eth is looking pretty stronger as the amount staked and number of nodes are huge in the market right now.

[kamelq 22]

On 2/14/2021 at 5:47 PM, Whited35 said:

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

@Whited35 great explanation as always!

This will be the best feature of ETH 2.0 as technologies progress and scammers try to find new holes to exploit, investors will sometimes think more about the downsides than the upside of things.

[Whited35 15285]

19 hours ago, Lamar88 said:

So this 2.0 had a very good impact

Do not go cryptic please, kind request to you. Do not just write 2.0 ! As it is online community, you have to mention things precisely. 

19 hours ago, Ridam said:

That's why there is no point in running a attack to the Ethereum if we see from the price prespective. Just like as you have said the price drops if we see any illicit movement in the market so anyone who attempts to launch the attack and invest huge money to buy Eth will end up in loss nothing more than that.

That's the beauty of PoS blockchain networks and Ethereum is fulfilling all the things once it gets switched to PoS based multi-layers blockchain network. No hacker or miner would love to lose the amounts 😀

[kryptonick 2659]

On 2/15/2021 at 2:37 AM, Dang3r said:

I have a somewhat basic question, to what extent or ratio will the pools intended to distribute the profits for mining ETH be configured, I mean what percentage or power could be obtained, for example if I allocate 1 ETH my mining power would be equivalent to how much ?

 

I looked for information on this but the data that I managed to find is somewhat confusing about it

As far as I remember it will be more interest earned early on, when less are staking and higher on later years, when it is expected more ETH to be staked. This amount is changed but I haven't done the math as I don't have 32ETH. However there are many staking options in exchanges and other websites. I would select probably top exchanges if I ever start staking ETH.