Booming Market for Ethereum 2.0

Most stakeholders, with the exception of SharedStake and Stakewise, have grown, but Lido dominates the sector, according to Delphi Digital. Jason Choi, general partner and principal investigator at Spartan Capital, said the protocol received more than half of the recent new influx.
A proof of importance consensus mechanism protects blocks by selecting transaction validators based on the number of coins they have. To become a Beacon Chain Generator, an entity needs at least 32 ETHs and is worth about $ 120,960 at the current Ethereum price of $ 3,780. (The transition from Ethereum’s Proof of Work to Proof of Game mechanics will take place early next year.)

Like Lido, centralized exchanges such as Kraken and Binance will also consolidate user funds to enable investors under 32 ETH to contribute to Eth 2.0 and earn rewards. These exchanges make up a significant portion of the coins in the Ethereum 2.0 Beacon Chain Deposit Agreement, according to a report by blockchain analytics firm Nansen, which was emailed to CoinDesk on August 17. According to blockchain analytics firm Glassnode, deposit contracts currently contain more than 7 million coins.
However, according to Nansen, Kraken and Binance are losing share on distributed sharing protocols like Lido.