HomeCoinsEthereumHistory Of Stacking Ethereum (ETH)

History Of Stacking Ethereum (ETH)

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Staking is the process of locking an amount of cryptocurrency for a particular time period to contribute to blockchain technology and earn network rewards. As of now, nearly 9 million ETH have been staked on Ethereum’s Proof of Stake system. This amount of ETH is locked until withdrawals are authorized while 8% of ETH stake reflects a bit of confidence in the network’s future.

As a matter of fact, the great news is that Rocketpool, an ETH staking pool went live in November. Besides, their much-anticipated debut went off without a hitch while anyone can join Rocketpool as a node operator. Moreover, anyone as a node operator can join if they are ready and able to give half of the needed stake for activation.

Significantly, Codefi also joined Rocketpool to promote an essential staking decentralization protocol. This collaboration might become highly vital to the ecosystem, along with other similar models. Consequently, the other key piece of information following Altair is that rewards will be unpredictable. Let’s dig into the staking performance since the upgrade of Altair.

Since Altair Upgrade – Staking Performance

Since the upgrade of Altair, the rewards are distributed in varieties as a result of the block reward being doubled by a factor of four. But on a long-term average, overall rewards are the same as it was like the previous Altair. From the study of making fair comparisons to look only at attestation rewards, random block and sync committee rewards are filtered out. 

As per these teams, Teku and Nimbus are the two teams that are in competition. According to metrics, the validators from which the team generates most incentives from attesting on any given day will be the winner. However, this should be shared 25% each way if all clients were equal.

The other two teams did not win any single day. This, predictably, transfers into real-world profits, with staking providers that only use Teku, such as ConsenSys Codefi and Allnodes, outperforming once again. Furthermore, allowing early stakers to gain access to the additional functionality and capabilities coming to stake ETH might be an interesting segment. 

Moreover, staking will be significantly more efficient with the final ‘take the cream’ feature. It effectively synthesizes stacking on rewards for large stakers or large pools by skimming off surplus and triggering new validators for large stakers or large pools.

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