Ethereum Hits New Record with Over 100,000 Independent Deposit Addresses Pledged

According to reports, according to data from the Shanghai upgrade dashboard of 21Shares at Dune Analytics, the current number of independent deposit addresses pledged by Ethereum has exceeded 100000, reaching 100154 at the time of writing. The current total number of ETH pledges is 17959399, and the estimated number of verifiers is 561231.

Data: The number of independent deposit addresses pledged by Ethereum has exceeded 100000

Introduction

Ethereum, the world’s second-largest cryptocurrency by market cap, is making waves once again with its latest achievement. According to reports and data from the Shanghai upgrade dashboard of 21Shares at Dune Analytics, Ethereum has surpassed over 100,000 independent deposit addresses pledged as of the time of writing. This marks a significant milestone and highlights the platform’s continued growth and adoption.

What is Ethereum?

Before delving into its new milestone, it’s important to understand what Ethereum is. Launched in 2015, Ethereum is an open-source, decentralized software platform that allows developers to build and deploy smart contracts and decentralized applications, or DApps, on its blockchain network. Unlike most cryptocurrencies that focus solely on being a digital currency, Ethereum offers a range of features and functionalities, making it unique and versatile.

Ethereum’s Platform Evolution

Ethereum’s platform has undergone several major upgrades over the years, with the most recent being the London hard fork implemented on August 5th, 2021. The London hard fork included the highly anticipated EIP-1559 proposal, which aimed to address the issue of high gas fees and make transactions more predictable and efficient.

Ethereum’s Milestone

According to the data provided by the Shanghai upgrade dashboard of 21Shares at Dune Analytics, Ethereum has exceeded 100,000 independent deposit addresses pledged as of the time of writing. This impressive accomplishment means that over 100,000 users have pledged their Ethereum to be used as collateral for staking, which is a vital component of Ethereum’s transition from a proof-of-work to a proof-of-stake network.

Ethereum’s Staking Process

For those unfamiliar with Ethereum’s staking process, it’s an essential element of the network’s transition to a proof-of-stake consensus mechanism. Staking involves users holding their Ethereum in specialized wallets and locking it up in smart contracts to help validate transactions and earn rewards. Staking serves as a way to secure the network while also providing users with incentives to participate in the ecosystem.

The Benefits of Ethereum’s Milestone

The fact that Ethereum has surpassed 100,000 independent deposit addresses pledged is significant in several ways. First, it highlights the growing interest and adoption of Ethereum’s network and the belief that it’s a valuable investment option. Second, it showcases the community’s support for the network’s transition to proof-of-stake and the willingness to participate in securing the network. Finally, it demonstrates Ethereum’s continued evolution, growth, and potential for the future.

Conclusion

Ethereum’s latest milestone with over 100,000 independent deposit addresses pledged is a significant achievement and a testament to the platform’s continued growth and adoption. As Ethereum’s network continues to evolve and improve, it’s expected that more users will participate in the staking process, further securing the network and contributing to its success.

FAQs

1. What is Ethereum, and why is it important?
– Ethereum is an open-source, decentralized software platform that allows developers to build and deploy smart contracts and decentralized applications on its blockchain network. It’s important because it’s unique and versatile, offering a range of features and functionalities, and has shown continued growth and adoption.
2. What is Ethereum’s staking process, and how does it work?
– Ethereum’s staking process involves users holding their Ethereum in specialized wallets and locking it up in smart contracts to help validate transactions and earn rewards. This serves as a way to secure the network while also providing users with incentives to participate in the ecosystem.
3. What does Ethereum’s milestone of over 100,000 independent deposit addresses pledged mean?
– Ethereum’s milestone of over 100,000 independent deposit addresses pledged highlights the growing interest and adoption of Ethereum’s network, as well as the community’s support for the network’s transition to proof-of-stake and showcases Ethereum’s continued evolution, growth, and potential for the future.