![]() ![]() That’s worth roughly $50,000 at current prices, which prices out most average users.Īs such, users have quickly gravitated towards using centralized staking platforms, known as staking pools, instead. In order to be a solo staker, users must pledge a minimum of 32 ETH to the network. After that time, Ethereum users will be able to stake their ETH to help secure the network while earning passive ETH rewards in the process.īased on the beacon chain’s current numbers, the Amber Group, a crypto financial services firm, has estimated that rewards for validators could range between 8% and 12% APY. The merge is currently expected to take place sometime between September 13 and 15. This merge will complete Ethereum’s transition from a proof-of-work consensus mechanism to proof of stake The “merge ” refers to Ethereum’s long-awaited upgrade that will combine the network’s consensus layer, known as the beacon chain, with its execution layer, which is the current Ethereum mainnet. “As the Ethereum network continues to transition towards The Merge, we are thrilled to now offer ETH staking with some of the highest APY rewards in the industry," Binance US CEO Brian Shroder said in a press release. Staking rewards, however, are subject to change based on Ethereum transaction fee volume among other factors, according to Binance US. Crypto lending platforms like BlockFi and Nexo offer only 4% and 5% APY on ETH staking, respectively, despite using a relatively high-risk, high-reward business model. ![]() That’s a sizable step above major competitors like Lido and Coinbase, which currently offer 3.5% and 3.25% APY, respectively, on staked ETH. ![]()
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