Montrachet launching decentralized crypto staking token (+40% APR)

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Montrachet, democratizing blockchain asset management
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The market capitalization of ERC-20 tokens exceeds that of Ethereum

Since the market crash of September 2nd The combined market capitalization of all ERC-20 assets exceeded the market capitalization of Ethereumand the spread between the two continues to grow in favor of ERC-20 assets. This change indicates that The price of the Ethereum has corrected more than the ERC-20 ecosystem and had trouble recovering immediately afterwards.

It is perhaps not surprising that the DeFi currencies in particular rose much faster than the ETH. According to Santiment’s DeFi watch list, lThe collective market capitalization of DeFi-related assets rose 15.6% in the last week alone. In comparison, Ethereum’s market capitalization increased + 7.7% over the same period.

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Montrachet, democratizing blockchain asset management
www.montrachet.co

Ethereum 2.0 what would-be validators need to know

“There are indeed responsibilities that come with [Ethereum 2.0 staking]. You can’t just stake and leave it. You need to run what we call a client or a validator software.”

That’s Ben Edgington, the product owner of Teku at ethereum venture capital studio Consensys. Teku is one of five software clients currently being battle-tested on the official Ethereum 2.0 test network, Medalla.

These clients will connect users to the highly anticipated proof-of-stake blockchain aimed at significantly boosting Ethereum transaction speeds and throughput. Ethereum 2.0 clients like Teku will also enable users to earn rewards as validators on the new network. 

Similar to the role of miners on the current Ethereum blockchain, validators on Ethereum 2.0 will be responsible for processing transactions and creating new blocks. What that looks like in practice, according to Edgington, is keeping client software up and running 24/7 on a dedicated computer device.

“For Status [the Ethereum messaging company], the Nimbus client is focused on trying to build a client for a low-footprint system. So they’re building for embedded systems such as mobile devices and potential IoT [Internet of Things] in the future,” said Michalik. “At the ConsenSys protocol engineering, we’re trying to lean into our specialization which is building the enterprise grade [Ethereum 2.0 client].”

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Montrachet, democratizing blockchain asset management
www.montrachet.co

What is Ethereum 2.0? Why is it Important?

Ethereum Serenity, described by Van Loon, is a different blockchain from what we know to be Ethereum in its current form. The planned update won’t demand a hard fork of the original chain.
The door to Ethereum 2.0 will be accomplished by a one-time deposit of Ether from the old chain to the new via smart contracts. This will be a one-way transaction, after which the use of the legacy Ethereum system is expected to stop.

Legacy system versus new design

The reason behind the change came by clear limitations in the old design. The Proof of Work algorithm and other parts of the architecture could not cope with developers’ demand. Some of the main issues are:

Scalability: it is a well-known fact that the world computer that was the original aim of Ethereum is slow. Right now, the protocol is overwhelmed by all the Decentralized Applications and Smart Contracts running in it. Some improvements were made in this front, but it became clear that a Proof of Work blockchain could not cope with demand.

Security: there were never significant security breaches in Ethereum. But it is known that some improvements could be made. This is a focus for Ethereum 2.0, which aims to create a more robust platform.

A new virtual machine: one of the great innovations of Ethereum, was the release of a virtual machine. This is the part that runs the smart contracts and makes the protocol a world computer. The issue is that it is very slow. This is a problem because each transaction in Ethereum updates the global state of the network. Right now, the EVM is a bottleneck in the system.

Proof of Stake (PoS)

The PoS consensus algorithm is the biggest change in Ethereum 2.0. The mechanism uses stakes instead of electricity as a measure of validity. In a PoW blockchain, the chain with the hash power behind it is considered valid. In a PoS network, the chain with the highest staked resources is the one valid.

Also, validators become the new source and propagators of blocks. These are users who have locked at least 32 coins. These coins allow the validator to enter a lottery to be selected as the next block’s creator and claim its rewards. If a validator goes offline or acts dishonestly while it is an active part of the network, some or all of the Ether used to become a validator will be taken away.

Another big change in the system is the use of side-chains known as shards. As we have discussed before, transaction throughput is one of the major problems of the current system. In its existing architecture, this problem doesn’t appear to have a solution. This is why the creation of separate smaller chains that can attract unique use cases is a significant improvement.

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Montrachet, democratizing blockchain asset management
www.montrachet.co

Ethereum 2.0 Medalla Testnet: The Numbers Say It All

As per the latest update, validators have staked a little close to 2 million Goerli test tokens on the Ethereum 2.0 Medalla test net. Active validators are just above 62,000, with network participation ranging between 72 percent to 80 percent in the last 24 hours.
As of now, close to two million test ETH tokens are eligible for voting whereas only little more than 1.5 million Ethers have actually voted to validate Medalla.
According to the last update on test ETH staking, around 38,000 participants had plugged in more than 1.1 million Goerli Ethereum tokens. Since then validator participation has gone up to 63.2% in a month’s time.

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Montrachet, democratizing blockchain asset management
www.montrachet.co

Stratis to Launch New Blockchain and Token ‘STRAX’, Increasing Focus on DeFi

As blockchain use cases such as digital securities, lending platforms, and more take off, companies are finding the need for increased flexibility in their blockchains. Stratis, a popular enterprise-focused ‘Blockchain as a Service (BaaS)’ company, has recognized this and just announced STRAX.
The outgoing Stratis blockchain, and its associated STRAT tokens, will be replaced with the STRAX blockchain and STRAX tokens.
Stratis notes various reasons that necessitated this upgrade/pivot – primary of which is business adoption. The company did not mince words when describing where this adoption could occur.

Other key upgrades afforded by STRAX include, but are not limited to,
- Ethereum interoperability
- Cold-staking
- Oracles
- Seg-Wit
- Revamped block-times and block-rewards

To learn more about this upcoming blockchain, and how it will function, make sure to peruse the recent introduction to STRAX by Stratis themselves at https://www.stratisplatform.com/2020/09/25/introducing-strax/

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Montrachet, democratizing blockchain asset management
www.montrachet.co

What is DeFi ?

DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.

DeFi draws inspiration from blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases.

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Montrachet, democratizing blockchain asset management
www.montrachet.co

What is Cryptocurrency Staking ?

Staking means holding cryptocurrency or tokens to support a network operation and getting a reward for it. Naturally, this process is typical for blockchains using the PoS protocol or any of its versions. Staking brings in the concepts of familiarity, engagement, and reward into the ecosystem.
Staking generally refers to the holding of your cryptocurrency funds in a wallet and hence supporting the functionality of a blockchain system. The cryptos are being locked in their wallets by the stakeholders. They are then rewarded by the network in return. Staking provides a way of making an income.Staking is a process similar to having a savings account with your bank and earning interest on the deposits. Staking is a great addition to the cryptocurrency space which offers notable applications. Staking also brings the aspects of familiarity, engagement, and reward into the ecosystem. This makes the investment all the more worthwhile.

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Montrachet, democratizing blockchain asset management
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Zilliqa’s non-custodial staking platform on its mainnet has seen more than a billion tokens staked within a few hours

Zilliqa is a high-performance and secure blockchain platform for enterprises and next-generation decentralized applications. In June, KuCoin and Binance were announced as exchange staking partners but now token holders are able to stake directly into the smart contract without having to go through a third party intermediary.

Staking will enable ZIL holders to participate in governance voting as the platform strives to become more decentralized, as well as earn rewards. The platform has introduced a new token to the network called governance ZILs, or gZIL, which will be earned alongside staking rewards in ZIL. Zilliqa estimated annual staking returns of around 6% if 80% of the circulating supply, currently 10.5 billion ZIL, is staked.

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Montrachet, democratizing blockchain asset management
www.montrachet.co

$30 Billion in Bitcoin Will Be Locked in Ethereum by End of 2021

Spencer Noon, the head of crypto-native investment fund DTC Capital, says that the total amount of Bitcoin (BTC) held on Ethereum’s blockchain will increase 20x by the close of 2021. “There are now 131,075 BTC (~$1.5 billion) on Ethereum. That is 0.624% of all bitcoins in existence. I predict we’ll 20x this by the end of 2021.”

Noon’s bold prediction comes in the wake of DeFi Pulse’s report that investors have now converted a record 141,683 BTC worth approximately $1.5 billion into ERC20 tokens.

Crypto traders are converting BTC into Ethereum-based tokens that represent BTC – a move that allows them to essentially use their Bitcoin to participate in DeFi and take advantage of decentralized lending protocols, synthetic derivatives and exchanges.

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Montrachet, democratizing blockchain asset management
www.montrachet.co

What the new on ETH 2.0

Ethereum 2.0 is an update to the existing Ethereum network that came up with advanced levels of speed and effectiveness. It has greater adaptability that can improve the performance of the ethereum tokens in terms of exchanges. This introduction of the update will definitely increase the probability of this exchange and eases blockage and moderates on the Ethereum arrangement. With all such redesigning and other external moderations have been made, the Ethereum will land on its Stage 2 level, where it will meet the objectives of turning itself into a decentralized exchange application and a straightforward system for cryptocurrency exchanges and bitcoin trade.
Ethereum 2.0 will include sharding to definitely build, arrange data transfer capacity and decrease gas costs, making it less expensive to send Ethereum, tokens, and communicate with brilliant agreements. There will be crucial financial changes where Ethereum 2.0 will permit support to marking hubs and acquire Ethereum as easy revenue. From multiple points of view, Ethereum 2.0 is then joined by the exertion of thousands of designers who worked for quite a long time.