• Tue. Jun 18th, 2024

Stakefish Simplifies Staking As ETH2.0 Is Set To Launch

Phillip Seefeldt

ByPhillip Seefeldt

Nov 24, 2020

Cryptocurrency has continued to enjoy a good week, which has seen the prices of Bitcoin, ethereum, and XRP reach astronomical heights this week alone. The latest good news hitting the ethereum market now is that Crypto staking giant, Stakefish, has simplified staking amidst the launch of Eth2 on its platform.

The announcement by the leading blockchain giants was announced today to the delight of its stakers. An early bird service fee of 0.1ETH for each validator is one of the mouthwatering offers of this service. Stakefish is the world’s leading staking platform for cryptocurrencies where stakers can pool their crypto assets and earn interest from it.

Users allowed to stake without validators on the ETH2.0 platform

On the other hand, the Ethereum staking platform ETH2 allows blockchain users to stake without running validators personally. A one-time, flat fee of 0.1ETH will also be available to Stakefish customers whose withdrawals are currently unavailable. This offer is currently limited, and analysts do not expect it to last long but implore stakers to utilize it efficiently at the time being. This offer eliminates presently extra charges being incurred by stakers until at least withdrawals are enabled.

The good news is that withdrawals are currently not in plans for ETH2 as it is still being rolled out in phases. The first phase, Phase 0, will start with stakers no having the option to either withdraw or transfer. No one knows when the second phase will commence or how it will operate.

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However, it is projected that Phase 1.5 is when withdrawals could be made, and even analysts have no idea when it will be available. The CEO of Stakefish, Chun Wang, in a statement earlier, argues that Ethereum, with a market capitalization of $25.3 billion and a daily trading volume of $5.9 billion, sits as the second most valuable cryptocurrency.

Stakefish CEO says staking has an integral role on the platform

The CEO also explains that staking can play a significant role in augmenting its adoption with the new platform making it easy and accessible to everyone. He further stressed that rewards for stakers could go from as low as 2% to about 20%, depending on stakes value. He also noted that this initiative is fostered towards creating awareness for the cryptocurrency, building a mass adoption base for Ethereum, and the company is expecting excitedly its customers responses.

Ethereum had witnessed immense success, particularly this week when it crossed a record-breaking $600 price value. However, that is not the only good news from the cryptocurrency as it has announced its proposed launch of the Ethereum 2.0, which is also known as serenity. ETH2.0 is a digital upgrade to the blockchain platform and will see its operation increase in both speed and efficiency.

It is expected to process more transactions, and analysts expect it to increase its price positively. The stumbling block to the release of Eth2, which was proposed to be December 1, 2020, is a $315 million capital requirement. The cryptocurrency world is patiently awaiting this official release as the company already boasts about 50% capital of the financial requirements.

Phillip Seefeldt

Phillip Seefeldt

Phillip Seefeldt is a skilled and perceptive news writer known for his comprehensive analysis and engaging writing style. With a commitment to accuracy and a deep understanding of current affairs, his articles provide readers with insightful perspectives and thought-provoking insights.

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