Ethereum 2.0 In Q2? Proof of Stake

Scaling solutions have been in the works since 2017 and while there are many options there really are not best case options for the issues Ethereum still faces. Fees are down but that could be a direct result of the markets in general just being down and not as active. Ethereum also introduces a burn on every transaction which is now a flat fee everyone has to pay to the blockchain. All of these things have been paving the way for Ethereum 2.0

What Is Ethereum 2.0

Ethereum 2.0 in it's simplest form is changing the way it's mined from a Proof of Work system primarily made up of millions of GPUs running into a Proof of Stake system which you'll need to lock up about 32 ETH in order to be a part of and secure the network for some rewards.

There are some new platforms gearing up for launch that will allow for 0.1ETH to be staked with them to earn part rewards in a pool type system. It begs the question if DPOS should be next since these pools will most likely become the central point for many people.

What Type Of Rewards Can You Expect?

While we won't have a solid number until it releases you can start to pull some estimates as to what those payouts might be. From the beacon chain that currently runs along side the main chain but doesn't process any transactions we are currently seeing roughly a 5.5% APR to ETH stakers. That means with you 32 staked ETH you could currently expect about 1.76 ETH per year in earnings. That's roughly $5,000 earnings on a little over $92,000 at current costs. That's not so bad it's better than some bank would pay you right now!

GPUs Mass Sales?

It also begs the question if GPUs are about to go on super sale. Primarily GPUs have been used to mine Ethereum. That will soon from the looks of it no longer be the case. It means thousands if not millions of GPUs we are talking 1080+ (personally I own a 1080ti and the thing runs every game I want perfectly still) That means either these are going on the market or they are going to be converted to mine some other GPU intensive crypto.

The Next Big PoW Coin?

There are some and I'm curious if this mix of the perfect storm will skyrocket these cryptos. It's something I'm betting on with some disposable income at the moment just in case.

With everything going on right now and the constant push from regulators trying to track everything and make it look super bad for crypto. The smart people know this is dumb and everything can already be tracked. Thus the focus for privacy coins that are focused on this is going to start catching attention again.

GPU mining for cryptos like Monero and Zcash could see a massive swing in mining power as Ethereum moves to a proof of stake system. Maybe this is exactly what Monero needs at the moment to really skyrocket it into being the privacy coin people are going to seek.

Monero (XMR) currently trades for $189 with a strong market cap of 3 3.4 billion putting it at rank 41 on coingecko. We have seen Monero peak twice now during both rallies of 2017 and 2021 to over $400 in both cases and begs the serious question if it's getting primed for one of its biggest here in Q2-Q3 2022.

*This article is for entertainment purposes only and not finical advise. Do your own research before invest.

Posted Using LeoFinance ^Beta