{"id":119684,"date":"2020-11-25T02:52:34","date_gmt":"2020-11-24T23:52:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/celsius-says-it-tipped-in-25000-ether-to-help-launch-ethereum-2-0\/"},"modified":"2020-11-25T02:52:34","modified_gmt":"2020-11-24T23:52:34","slug":"celsius-says-it-tipped-in-25000-ether-to-help-launch-ethereum-2-0","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/celsius-says-it-tipped-in-25000-ether-to-help-launch-ethereum-2-0\/","title":{"rendered":"# Celsius says it tipped in 25,000 Ether to help launch Ethereum 2.0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28e6da1a93c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28e6da1a93c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/celsius-says-it-tipped-in-25000-ether-to-help-launch-ethereum-2-0\/#Hopes_are_high_for_Eth_20_but_concerns_remain\" >Hopes are high for Eth 2.0, but concerns remain<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Celsius says it tipped in 25,000 Ether to help launch Ethereum 2.0 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The highly anticipated launch of Ethereum 2.0, or Eth2, is scheduled to take place next week. Specifically speaking, Eth2\u2019s proof-of-stake blockchain known as \u201cthe beacon chain\u201d has been confirmed to run alongside the Ethereum network starting Dec. 1.\u00a0<\/p>\n<p>Although some members of the blockchain community remained skeptical about a Dec. 1 launch date for the beacon chain, an impressive 524,288 Ether (ETH) from 16,384 validators has been deposited into the Eth2 contract. As such, there is now assurance from The Ethereum Foundation that Eth2\u2019s beacon chain will indeed go live as expected. <\/p>\n<p>While impressive, it\u2019s important to note that additional deposits went into the Eth2 deposit contract even after the target goal was reached. To put this into perspective, Vitalik Buterin, the co-founder of Ethereum, sent a recent tweet on Nov. 24 showing the impressive amount of transaction across the Ethereum network over time:<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/8e8674c2-79bd-4340-bbab-99c51901fcb5.png\"><\/figure>\n<p>While it\u2019s unknown where these transactions came from, Alex Mashinsky, chief executive officer and founder of Celsius Network \u2014 a crypto lending and borrowing platform \u2014 told Cointelegraph that Celsius provided 25,000 worth of ETH to ensure that the Eth2 deposit contract had enough funds to launch on time.\u00a0<\/p>\n<p>According to Mashinsky, the amount of ETH Celsisus deposited was equivalent to $15,125,000 at the time of the transaction. Mashinsky further noted that funds came from the Celsius \u2018s pool of community assets, explaining that this will be used to generate an even higher yield for the community once the Eth2 network is officially launched. Currently, Celsius users can earn up to 7.21% Annual Percentage Yield on ETH held in the Celsius wallet. Mashinsky said:<\/p>\n<blockquote><p>\u201cWe already have 230 thousand users on the Celsius network, along with 3.3 billion dollars worth in assets. These users are putting in ETH, allowing the network to earn yield on it in many different ways. The 25,000 ETH contributed to the proof-of-stake Ethereum network will generate another source of yield for our community.\u201d<\/p><\/blockquote>\n<p>Mashinsky further shared that the growing Celsius community has been modeled off Ethereum, noting the importance of giving back the Ethereum network:<\/p>\n<blockquote><p>\u201cWe built our CEL token on the Ethereum blockchain and used it to scale and become one of the fastest-growing companies in crypto. We are proud to inaugurate the ETH 2.0 Genesis and contribute the last building block with 25,000 ETH from the Celsius community and be a helping hand to a company that helped us scale our own project.\u201d<\/p><\/blockquote>\n<h3><span class=\"ez-toc-section\" id=\"Hopes_are_high_for_Eth_20_but_concerns_remain\"><\/span>Hopes are high for Eth 2.0, but concerns remain<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Although the Eth2 beacon chain is set to launch on Dec. 1, concerns still remain. For example, while scalability issues are expected to be resolved as Ethereum adopts a proof-of-stake consensus algorithm, the security of some Ethereum smart contracts remains questionable. This has especially come to light with the rise of decentralized finance, or DeFi, projects. <\/p>\n<p>As such, a new working group from the Enterprise Ethereum Alliance called \u201cEthTrust Security Levels Working Group\u201d has been focused on creating a set of defined standards to ensure Ethereum smart contracts are safe to use. The working group eventually hopes to develop a digital registry for secure smart contracts to be utilized by enterprises. <\/p>\n<p>Additionally, some remain concerned that benefits will not be seen im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely following the gradual launch of Eth2. As such, the need for layer-two scaling solutions has become <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent. <\/p>\n<p>Concerns aside, Mashinsky expressed excitement for faster scalability from the Eth2 network:<\/p>\n<blockquote><p>\u201cEthereum 2.0 will scale everything 100 times faster than now. The ability to move Ethereum from a proof-of-work to a proof-of-stake network will open a world of new ideas and opportunities that couldn\u2019t be achieved before due to scalability issues.\u201d<\/p><\/blockquote>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/celsius-says-it-tipped-in-25-000-ether-to-help-launch-ethereum-2-0\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Celsius says it tipped in 25,000 Ether to help launch Ethereum 2.0 &#8221; The highly anticipated launch of Ethereum 2.0, or Eth2, is scheduled to take place next week. Specifically speaking, Eth2\u2019s proof-of-stake blockchain known as \u201cthe beacon chain\u201d has been confirmed to run alongside the Ethereum network starting Dec. 1.\u00a0 Although some members&#8230;<\/p>\n","protected":false},"author":1,"featured_media":119685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/fa43e046-548b-47c8-ae70-428bd6486082.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74868,74891,75326,74938],"class_list":["post-119684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-defi","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/119684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=119684"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/119684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/119685"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=119684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=119684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=119684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}