Ethereum 2 and the bumper harvesting of tokens in proof of stake

The beacon chain that arose as the result of 3 years of work of the ethereum community secured more than the required number of validators on the network. The statistics of the ethereum network are shown on https://beaconscan.com. While beacon chain works as the active test net for it’s massive scalability re-design, it is definitely a showcase of the powerful unity amongst the ethereum community, by contributing almost 500 Million dollars worth of ethereum for the next couple of years, to enable genesis.

Early statistics of beacon chain show that the expected number of ethereum coins have far been exceeded in number by more recent deposits of 32 eth validators. The beacon chain still continues to accept deposits, and while before genesis pooled validators were not allowed, newer exchange based staking services such as kraken.com have started offering pooled staking for validators. Similarly staking businesses such as staked.us are offering deposits to the beacon chain smart contract even if one didn’t have 32 eth to stake. These developments are welcome and would allow beacon chain to flourish, despite there being a lockup of between 5 and 10% of the available ethereum supply into beacon chain smart contracts that enable validation of transactions.

To learn more about the architecture of the beacon chain visit this URL:https://ethos.dev/beacon-chain/

While the beacon chain does not necessarily alter the functioning of decentralized applications, it does provide eth2 developers to write applications that scale faster and can effectively disrupt the need for large deposit and confirmation cycles once the beacon chain moves to the next level.