The cryptomontage community is gradually preparing for Ethereum 2.0, and it has been revealed that almost 80% of the total ETH supply is kept in portfolios of people preparing for the staking implicit in the ETH 2.0 PoS.
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Why accumulate ETH before the launch of Ethereum 2.0? Simple: Staking
Although it may seem obvious to many, perhaps there are those who do not understand the relationship between accumulation and participation in a Staking system. First of all, you should know that the novelty of ETH 2.0 is that it will work with a PoS or „Proof of Stake“ system.
This means that people who have more accumulated cryptomonies will have more opportunities to participate in the validation process of operations within the Blockchain. In this case ETH is accumulated, to validate blocks in ETH 2.0.
Within the PoS system, miners do not compete for the right to validate transactions. Instead, this capacity is assigned to them at random by the cryptomechanism system, so those who have the greatest possibilities are those who have the greatest amount of the asset in question.
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Accumulation of almost 80% of the Ether supply (ETH)
Having understood this, we can understand why about 86 million ETH are stored in non-exchangeable portfolios. The idea of accumulation is to have more possibilities within the ETH 2.0 system.
According to the latest report by ConsenSys, the infrastructure developer of the Blockchain Ethereum, almost 80% of the total supply of ETH is kept accumulated. This report is called „Economic Review of Ethereum 2.0“, published on July 16th.
Specifically, according to the report, 77.7% of the current ETH supply is in portfolios containing more than 32 ETH. The latter is relevant if we consider that 32 ETH is the minimum amount required to earn rewards through staking in ETH 2.0.
While the implementation of Corona Millionaire 2.0 is expected to reach the end of 2020, the network has been in a test network. This has been known as the „Beacon“ since May 2020.
In addition, in early May, ConsenSys published a report revealing that 66% of ETH holders plan to bet their coins as soon as the first phase of ETH 2.0 deployment is completed.
With this we can conclude that preparation is key for all those who anticipate the success of ETH 2.0. That’s why we want to know: are you also part of the group that is accumulating ETH right now in order to participate in the staking of this Blockchain?