New Ethereum 2.0 calculator can show you 10 years of staking rewards
EthereumPrice.org released a new UI calculator tool today to calculate Ethereum staking rewards after the network moves to Ethereum 2.0 later this year.
The tool provides a glimpses into how much one might be able to earn, just by letting tokens sit in stake, when Ethereum upgrades to its next iteration. To that end, users can adjust a number of network settings that have a large effect on how the reward is calculated. For example, changing the amount of all Eth in circulation being staked from 1% to 10% means the difference between earning 5% or 15% each year of staking. Other factors also affect annual reward, such as the amount of time the staking node (validator) has been active.
The tool uses data from the Brooklyn-based Ethereum incubator ConsenSys. The calculator was developed using an open source Google Sheet created by Colin Myers at ConsenSys Codefi. (Decrypt is funded by, but editorially independent from, ConsenSys.)
The tool calculates 10 years of Eth staked, Eth awarded each year, and cumulative return on investment over time. Users are also able to choose from a number of fiat currencies to display the value of their Eth stake including USD, EUR, GBP, JPY, and others.
The calculator is in public beta, and the interface is being billed as more of an educational device than a means of practical calculation. However, it gives an idea of how staking Eth will become an important part of the ecosystem as the Ethereum 2.0 launch approaches.
While users are able to calculate rewards using any amount of staked Eth, specifications for the upgrade currently limit each validator to 32 staked Eth. The staking calculator developers speculated that services would emerge to allow users to pool their Eth to meet this threshold, and that those with more than 32 Eth to stake could do so using multiple nodes.
Ethereum 2.0 is anticipated to offer a number of improvements in addition to the shift from a Proof-of-Work—also used by Bitcoin—to a Proof-of-Stake consensus mechanism to power the network. As reported by Decrypt, the upgrade is expected to reduce the complexity of the Ethereum network, cheaper transactions, and greater transaction throughput. The network is currently in the testing phase and recently saw support from more than 20,000 testnet validator nodes.
Author: Decrypt / Alexander Behrens
Ethereum Classic (ETC) Announced TestNet Ready For the Crypto Market
The leading blockchain platform Ethereum Classic (ETC) today announced that the successful updation of its testnet is completed and was on the process for its Mainnet launch.
All #EthereumClassic Testnets Now Successfully Updated, On Track For June Mainnet Launch https://t.co/peilcNdYDM via @Herald Sheets
— Ethereum Classic (@eth_classic) April 23, 2020
This announcement was revealed by a recent tweet on the official twitter account of Ethereum Classic saying all Ethereum Classic Testnets are now successfully updated, proposed to launch mainnet in June 2020.
The two Testnets are successfully running Phoniex which means that the ETC community is all set for the Mainnet activation.
Moreover, Ethereum Classic is under the process of another network upgrade code called Phoenix that will be inclusive of the Ethereum Foundation Istanbul network protocol upgrades on the ETC network.
During this process, various opcodes will be added to the Ethereum Classic network. On March 9th, 2020, the Phoneix upgrade was successfully activated on the Mordor Testnet at block 999_983. Also, it was successfully activated on the Kotti Testnet at block 2_200_013 on the 15th of April, 2020.
The Ethereum virtual machine (EVM) capabilities will get further improvements on Ethereum Classic with the support of Phoenix. However, if the capability of Phoenix is taken into consideration, the ongoing process will constitute ETC and ETH completely favorable.
As per the sources, the ETC Mainnet activation block 10_500_839 is scheduled to launch in June.
Meanwhile, one more announcement was exposed by Ethereum Classic on the Twitter platform, stating Cross-Chain Atomic Swaps are available now. Decentralized trading between ETH/ETC will be now enjoyed by the users via Saturn Protocol.
Coming soon: ETC <-> ETH ‘Atomic Swaps’ enabling decentralized trading between networks via @SaturnProtocol! https://t.co/iKdD6mUI1V
— Ethereum Classic (@eth_classic) April 23, 2020
Notably, ETH/ETC trading pair is just going to begin its decentralized trading function in the Saturn Network. It is expected that this platform will further expand its trading facility for DAI/ETC, USDT/ETC, and many more as per the traders’ demand.
Author: By Priyanka Kulkarni
BitMEX announces Ethereum Quanto Futures settled in Bitcoin
- BitMEX announces futures contracts called Ethereum Quanto with a fixed multiplier in Bitcoin that will be settled in BTC.
- The contracts will combine the quanto function of the perpetual ETHUSD swap and allow their users to earn BTC without using ETH or USD.
BitMEX announced a new product that promises to be “unique in the market”. In a publication, the exchange presented the Ethereum Quanto futures contracts. These contracts will have up to 50x leverage and are available in their testnet phase. The official launch, according to BitMEX’s announcement, will be on May 5th of this year at 04:00 UTC.
BitMEX also revealed that the first contract with the symbol ETHUSDM20, will be launched on the referred date, expiring on June 26, 2020 at 12:00 UTC. This will be another product that will be combined with Perpetual Contracts and futures contracts in the ETH/BTC pair on BitMEX. Since BitMEX only accepts Bitcoin (BTC) as collateral, it has had to devise new methods to offer its customers exposure to other assets. The Quanto futures contract is the financial derivative that allows this. As a result of BitMEX’s initiative to innovate in the market, the Ethereum Quanto futures contracts will have the following characteristics:
ETHUSD quanto futures have a fixed Bitcoin multiplier regardless of the USD Ethereum price. This allows traders to long or short the ETH/USD exchange rate without ever touching either ETH or USD! Traders post margin in XBT, and earn or lose Bitcoin as the ETH/USD rate changes.
On the other hand, it was announced that contract settlements will be made on the last Friday of each month, according to the BETH30M price index. According to the publication, the Ethereum Quanto futures contract will have additional features of other derivatives offered by BitMEX:
This contract combines the quanto feature of our ETHUSD perpetual swap with the expiry and settlement found in traditional futures. As with every BitMEX altcoin future, it expires quarterly.
Ethereum (ETH) has shown a positive performance in recent weeks. As it makes its transition to Ethereum 2.0, the DeFi sector is attracting the attention of investors in Asia, as Three Arrows Capital’s CEO Su Zhu said. Along with other crypto space personalities, Zhu is among those who think Ethereum is about to see a massive increase in its price. The increase will be motivated by a new investment flow and a supply shock due to the approval of the proposal that contemplates the burning of ETH with every transaction processed.
At the time of publication, Ethereum trades at $195.34 with a 4.05% gain in the last 24 hours. In the weekly and monthly charts, Ethereum shows gains of 14.28% and 42.97% respectively.
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Last Updated on 25 April, 2020
Ethereum Price Analysis: ETH is ten times more profitable than Bitcoin in 2020
Since the start of the year, Ethereum investors earned nearly ten times more than Bitcoin hodlers. The second-largest digital asset has gained over 55% in 2020, while Bitcoin is only 6% higher from the first of January 2020. ETH/USD has grown by 4% since the start of the day and become the best-performing crypto asset out of top-10.
At the time of writing, ETH/USD is changing hands at $196.00. It is moving within a short-term bullish trend amid high volatility.
According to the Wale Alert Twitter bot, large cryptocurrency investors known as whales moved over 1.2 million ETH coins in eight transactions worth $241,774,447 in the recent 20 hours. The fee for each transaction did not exceed $1, and all of them were made from unknown wallets to other unknown wallets.
Such whale activity may be a precursor of large market movements.
ETH/USD settled above daily SMA100 (currently at $186.00) and continued gaining ground. Now that psychological $190.00 turned from a resistance to support level, ETH has a chance to retest $200.00 in the nearest sessions. If this critical barrier is broken, the buying pressure will increase with the next upside target as high as SMA200 at $248.00 and $250.00.
On the downside, a sustainable below daily SMA100 will negate the immediate bullish scenario and bring $180.00 back into focus. The critical support is created by the upside trend line from March 13 low (now at $175.00). The long-term recovery remains valid as long as the price stays above this trendline.
Author: FX Street