In a notable development, Ethereum ICO participants have collectively pledged 46,464 ETH to the Ethereum beacon chain over the past week. This translates to a substantial investment totaling $128 million, underscoring the confidence and support in Ethereum’s ecosystem.

A closer examination of the contributions reveals a particularly significant address. Originating from the Genesis Block in 2015, this address still retains a considerable amount of ETH, currently valued at $139 million. This reinforces the long-term commitment and belief in Ethereum’s potential among early stakeholders. These pledges demonstrate a strong endorsement of Ethereum’s vision and technological advancements, further solidifying its position as a leading platform in the blockchain space.

Ethereum Readies for Dencun Upgrade to Boost Scalability

Ethereum is on the brink of a major upgrade with the impending Dencun release, poised to usher in a new era of scalability and efficiency for the Ethereum blockchain. Scheduled to activate at slot 8626176, developers are gearing up for the anticipated upgrade set to take place on March 13.

This marks a pivotal moment in Ethereum’s evolution, signifying its commitment to address pressing scalability challenges. Dencun’s primary objective is to tackle Ethereum’s scalability limitations head-on by implementing sharding and ramping up the overall throughput of computations across the network.

This strategic move is expected to enhance transaction processing speed and alleviate congestion, laying the groundwork for Ethereum’s continued growth and adoption.

Also Read: Ethereum Dencun Upgrade Mainnet Launch Slated For March 13

Proto-danksharding: Advancing Ethereum’s Progress

Proto-danksharding emerges as a pivotal advancement in Ethereum’s journey forward, serving as a vital stepping stone towards enhancing block space availability and implementing layer 2 scaling solutions. This precursor to full danksharding introduces innovative techniques aimed at simplifying transaction verification processes and mitigating network congestion.

By breaking down barriers to efficiency, Ethereum is poised to unlock new potentials for scalability and usability. Notable voices within the Ethereum community, including co-founder Vitalik Buterin and Ethereum Foundation researcher Toni Wahrstätter, emphasize the significance of Proto-danksharding. They underscore its role in making Ethereum more adaptable to rollup solutions and maximizing the utilization of block space, ultimately paving the way for a more robust and scalable Ethereum ecosystem.

Also Read: Just In: VanEck Updates S1-A Filing for Spot Ethereum ETF

The post Ethereum Beacon Chain: $128 Million Pledged in ICO Contributions appeared first on CoinGape.

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Filed under: News - @ February 17, 2024 2:21 pm