Former Ethereum core developer Lane Rettig breaks done why the network's major proof-of-stake upgrade last year isn't inherently less wasteful, cheaper or more secure than blockchain mining.
The embattled crypto lender has deposited $745 million of ETH to staking contracts in the last two days, significantly stressing the already-long waiting time to deploy new validators to the Ethereum network.
Investors are ditching the centralized exchange giants to stake their ETH holdings on decentralized alternatives amid regulatory concerns, and as they chase higher rewards, crypto analysts say.
The SEC’s recent actions shut down centralization staking services, but not individual staking and decentralized staking services. That could increase decentralization and help restore crypto’s original mission.
Lex Sokolin, head economist of decentralized protocols at ConsenSys, joined CoinDesk TV’s “First Mover” to discuss why ether could be seen as a store of value as regular and institutional users stake their tokens on the network.