Bybit, a Dubai-based cryptocurrency exchange, is targeting the expected future opportunities of Shanghai’s upgrade to the Ethereum
Ethereum
Ethereum is an open-source blockchain-based distributed computing platform and operating system with smart contract functionality. Established in 2014, Ethereum is now the second largest cryptocurrency by market capitalization at the time of writing. As a decentralized cryptocurrency network and software platform, Ethereum represents the most important altcoin. Ethereum also allows the creation of distributed applications, or dapps. Understanding EthereumEthereum has its own programming language,
Ethereum is an open-source blockchain-based distributed computing platform and operating system with smart contract functionality. Established in 2014, Ethereum is now the second largest cryptocurrency by market capitalization at the time of writing. As a decentralized cryptocurrency network and software platform, Ethereum represents the most important altcoin. Ethereum also allows the creation of distributed applications, or dapps. Understanding EthereumEthereum has its own programming language,
Read this term decentralized blockchain. On Friday, the exchange launched its new “optimized” Web3 staking pool to give its users access to its “simple ETH staking options.”
🔥 Bybit Web3 staking pools are officially LIVE!
🧐 Stake wBTC, ETH, stETH, USDT and USDC with low slippage and low fees to maximize your returns
😍 Earn up to 6.5% APR with your Bybit Wallet
— Bybit Web3 (@Bybit_Web3) March 31, 2023
THE Shanghai Upgrade, which is the first major development to come after the Ethereum merger executed in September last year, is a hard fork on the Ethereum blockchain that will allow ETH holders to withdraw their assets for the first time. The upgrade, originally scheduled for this month, is now expected to take place next month.
ByBit in a statement explained that its staking
Staking
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents an offer to secure a volume of crypto to receive rewards. In most cases, however, this process relies on users participating in blockchain-related activities through a personal crypto wallet. The concept of staking is also closely related to proof of stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents an offer to secure a volume of crypto to receive rewards. In most cases, however, this process relies on users participating in blockchain-related activities through a personal crypto wallet. The concept of staking is also closely related to proof of stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve
Read this term pool “significantly simplifies” the process of adding liquidity to Curve Finance, an automated market marker and decentralized exchange. ByBit noted that its pool reduces steps from 11 to just three, saving transaction fees for users.
“Additional benefits could lead to an ETH Annual Participation Rate (APR) of up to 6.5%. And Bybit users don’t even need to buy ETH because the product is accessible to help from BTC, USDT and USDC balances,” the UAE-based digital asset firm explained.
Speaking on the development, Ben Zhou, co-founder and CEO of Bybit, noted that the cryptocurrency exchange intends to roll out “highly liquid, trading-integrated ETH staking options” during the period. scheduled for the Shanghai upgrade. This will open up exchange users to “many new opportunities”.
“By introducing our Web3 Staking Pool through a dedicated landing page, we make it easier for users to interact with decentralized finance and get more rewards for their assets. Essentially, we offer unilateral staking, which increases the APR of the ‘ETH,” Zhou explained.
ConsenSys targets Shanghai upgrade
Meanwhile, ConsenSys, an Ethereum software and decentralized protocols company, also recently launched the first marketplace for institutional cryptocurrency staking. Indeed, the company expects the Shanghai upgrade to boost institutional participation in ETH staking.
ConsenSys launched the marketplace under MetaMask Institutional, its multi-custodian institutional web3 wallet, in partnership with Allnodes, a non-custodial blockchain and staking node infrastructure provider; Blockdaemon, a blockchain infrastructure company; and Kiln, an enterprise-grade staking platform.
Bybit, a Dubai-based cryptocurrency exchange, is targeting the expected future opportunities of Shanghai’s upgrade to the Ethereum
Ethereum
Ethereum is an open-source blockchain-based distributed computing platform and operating system with smart contract functionality. Established in 2014, Ethereum is now the second largest cryptocurrency by market capitalization at the time of writing. As a decentralized cryptocurrency network and software platform, Ethereum represents the most important altcoin. Ethereum also allows the creation of distributed applications, or dapps. Understanding EthereumEthereum has its own programming language,
Ethereum is an open-source blockchain-based distributed computing platform and operating system with smart contract functionality. Established in 2014, Ethereum is now the second largest cryptocurrency by market capitalization at the time of writing. As a decentralized cryptocurrency network and software platform, Ethereum represents the most important altcoin. Ethereum also allows the creation of distributed applications, or dapps. Understanding EthereumEthereum has its own programming language,
Read this term decentralized blockchain. On Friday, the exchange launched its new “optimized” Web3 staking pool to give its users access to its “simple ETH staking options.”
🔥 Bybit Web3 staking pools are officially LIVE!
🧐 Stake wBTC, ETH, stETH, USDT and USDC with low slippage and low fees to maximize your returns
😍 Earn up to 6.5% APR with your Bybit Wallet
— Bybit Web3 (@Bybit_Web3) March 31, 2023
THE Shanghai Upgrade, which is the first major development to come after the Ethereum merger executed in September last year, is a hard fork on the Ethereum blockchain that will allow ETH holders to withdraw their assets for the first time. The upgrade, originally scheduled for this month, is now expected to take place next month.
ByBit in a statement explained that its staking
Staking
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents an offer to secure a volume of crypto to receive rewards. In most cases, however, this process relies on users participating in blockchain-related activities through a personal crypto wallet. The concept of staking is also closely related to proof of stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents an offer to secure a volume of crypto to receive rewards. In most cases, however, this process relies on users participating in blockchain-related activities through a personal crypto wallet. The concept of staking is also closely related to proof of stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve
Read this term pool “significantly simplifies” the process of adding liquidity to Curve Finance, an automated market marker and decentralized exchange. ByBit noted that its pool reduces steps from 11 to just three, saving transaction fees for users.
“Additional benefits could lead to an ETH Annual Participation Rate (APR) of up to 6.5%. And Bybit users don’t even need to buy ETH because the product is accessible to help from BTC, USDT and USDC balances,” the UAE-based digital asset firm explained.
Speaking on the development, Ben Zhou, co-founder and CEO of Bybit, noted that the cryptocurrency exchange intends to roll out “highly liquid, trading-integrated ETH staking options” during the period. scheduled for the Shanghai upgrade. This will open up exchange users to “many new opportunities”.
“By introducing our Web3 Staking Pool through a dedicated landing page, we make it easier for users to interact with decentralized finance and get more rewards for their assets. Essentially, we offer unilateral staking, which increases the APR of the ‘ETH,” Zhou explained.
ConsenSys targets Shanghai upgrade
Meanwhile, ConsenSys, an Ethereum software and decentralized protocols company, also recently launched the first marketplace for institutional cryptocurrency staking. Indeed, the company expects the Shanghai upgrade to boost institutional participation in ETH staking.
ConsenSys launched the marketplace under MetaMask Institutional, its multi-custodian institutional web3 wallet, in partnership with Allnodes, a non-custodial staking node and blockchain infrastructure provider; Blockdaemon, a blockchain infrastructure company; and Kiln, an enterprise-grade staking platform.
