ETH Staking Report: More than 80% Is Primed For Staking As Full Node

The latest ETH staking report shows that more than 80% of the ETH supply in wallets is already surpassing the amount required to stake as a full node, so let’s find out more about it in the following ETH news.

The recently published review of Ethereum 2.0 brought up interesting conclusions and as a part of the ETH staking report, it seems that almost 80% of the ETH supply is ready to be staked as a full node. The highly anticipated upgrade from ETH 1.0 to ETH 2.0 was in preparations for a couple of years and the initial phase Beacon Chain was running full nodes on testent since May and staking rewards were being paid out to validators that tester the platform.

Finance nerds, economic pen testers, your time has come.

Moloch RFP: An economics audit of the latest ETH 2.0 spec.

— 👹 Moloch (@MolochDAO) January 14, 2020

The mainnet launch will probably happen later this year or in early 2021 at best. The recent report shows a deep dive into the economics of ETH 2.0 and it seems that most holders of the world’s second-largest cryptocurrency are now primed for staking. The latest research was carried out by ConsenSys corporate development’s Tanner Hoban and Tom Borgers after they got a grant from MolochDao in March. The economic model for the asset is far more complex than the current proof-of-work system which is reliant on the 100 variables that have a material impact on validator revenues, network issuance, and yields.

One of the findings was that almost 80% of the total supply or 86 million ETH is being held by non-exchange wallets with a balance of more than 32 ETH. 32 is the minimum amount of Ethereum that is required to run a full node and earn some staking rewards. It also added that an additional 18.7 million ETH is managed by crypto exchanges that are a subject to staking services:

 “This is a compelling serviceable addressable market, and a key objective of the incentive program to maximize network participation should be to convert these wallets into active validators.”

This could mean that a few whales are holding the biggest chunks but Etherscan confirmed that eight of the top ten addresses belonged to centralized exchanges. The findings are favorable for the future of Ethereum which was flat in the price for more than two years. The DeFi boom failed to raise the price of ETH this year despite the markets hitting an all-time high in terms of total value locked or 3.5 million ETH of the total supply. The prices are weak at $230 which is still 83% lower from the all-time high in 2018.