There’s now more than $25 billion betting on Ethereum’s most-anticipated upgrade.
These deposits, which are parceled into batches of 32 ETH at a time, are now validators on the Ethereum Beacon Chain, the first step in the transition to the upgrade called Consensus Layer (formerly known as Ethereum 2.0).
The most notable change following the upgrade will be Ethereum’s switch from a proof of work (PoW) consensus algorithm, like Bitcoin’s current mechanism, to a proof of stake (PoS) mechanism.
And that 10 million Ethereum now locked up in the deposit contract will play a key role in this next iteration.
