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BTC $78,461.72 -0.93%
ETH $2,480.44 -0.43%
BNB $751.93 +1.69%
XRP $1.42 +1.67%
SOL $102.99 -0.75%
TRX $0.3380 +0.98%
DOGE $0.0895 -0.91%
ADA $0.2189 -0.59%
BCH $256.60 -1.57%
LINK $12.47 -2.25%
HYPE $84.43 -0.79%
AAVE $128.46 -2.77%
SUI $0.8087 -1.84%
XLM $0.1882 -2.65%
ZEC $1,165.59 +1.27%

staking

Staking is a mechanism in blockchain networks that supports network operations and earns rewards by locking up cryptocurrency. Users deposit their tokens into specific smart contracts to help validate transactions and maintain network security. Staking is typically associated with the Proof of Stake (PoS) consensus mechanism, where participants gain governance rights and rewards by holding and locking tokens. It offers a relatively environmentally friendly alternative, avoiding the high energy consumption required by Proof of Work (PoW).
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first_img BitcoinIRA launches taxable cryptocurrency accounts Freedom Accounts

The cryptocurrency retirement investment platform BitcoinIRA has announced the launch of Freedom Accounts, which are individual taxable cryptocurrency investment accounts now available to eligible clients. These accounts can be managed alongside Crypto IRAs on the same platform and dashboard for both retirement and non-retirement cryptocurrency investments.These accounts are not subject to IRA contribution limits, required minimum distributions, or age withdrawal restrictions. Clients can fund them with cash or transfer supported cryptocurrencies in-kind from external platforms like Coinbase, Kraken, and Robinhood without having to sell first. BitcoinIRA does not charge fees for eligible in-kind transfers (network or sending platform fees may apply). Accounts can buy and sell over 100 cryptocurrencies 24/7, offer staking rewards on eligible assets (not guaranteed), and support automatic rebalancing of Crypto Bundles or custom portfolios.Custody is provided by Nevada-licensed trust company Digital Trust and BitGo multi-signature wallets. Freedom Accounts complement rather than replace Crypto IRAs, and eligible BitcoinIRA accounts automatically include this feature. BitcoinIRA was founded in 2016 and has processed billions of dollars in transactions for over 200,000 Americans. Co-founder Chris Kline stated that clients' financial lives extend beyond IRAs, and Freedom Accounts are the next step in expanding the platform, allowing clients to manage retirement and non-retirement cryptocurrency investments more flexibly in one place.

first_img Solana fees hit a record high, SGP-0002 inflation reduction proposal approved

The revenue from fees priced in SOL on Solana reached a seven-day average of nearly 9,200 SOL on August 27, an increase of over 80% compared to three months ago; the non-voting transaction volume also set a new seven-day high of 191 million transactions, compared to only 88 million transactions a year ago. Jito validator tips averaged 2,073 SOL daily over the past week, a 26% increase week-on-week, directly reflecting the increase in on-chain activity.Meanwhile, the SGP-0002 "Dual Deflation" proposal passed last Friday with just over 67% support (the threshold was 66.67%), with a voting participation rate of 60.7%, covering 1,326 validators, setting a historical high for governance participation on the Solana chain. This proposal will double the annual deflation rate from 15% to 30%, expected to reduce the planned issuance by approximately 18.9 million SOL over six years.This means that the new SOL supply entering the market each year will decrease, and the rewards for validators completing the same amount of work will also decline. Staking rewards will drop from about 5.25% to 2.25% in the third year, which will squeeze validators that rely on inflation revenue rather than transaction fees, and many validators may face losses within three years. However, this impact will mainly affect small independent operators, and ordinary users are not expected to experience significant changes in the speed and costs of using the Solana network.

first_img BitMine has staked 5.07 million ETH, accounting for 4.9% of the total Ethereum supply

Bitcoin mining company BitMine Immersion Technologies stated in its latest staking disclosure that as of August 30, it has staked 5,067,309 ETH, valued at approximately $12.7 billion based on a price of $2,511. The company's disclosed staking balance remained unchanged from August 9 to 30, while it added 53,501 ETH in the latest week, bringing its total holdings to 5,901,112 ETH.BitMine indicated that its Ethereum vault accounts for about 4.9% of the total Ethereum supply of 120.7 million coins, and the company had previously set a target to acquire 5% of the total Ethereum supply. The company has set the annualized yield for its staking operations over the past seven days at 2.63%, stating that the annualized staking income corresponding to the current holdings is approximately $335 million; if the entire ETH balance is staked through its self-built network and staking partners at the same yield, the annualized staking rewards could reach $390 million.BitMine officially launched its self-built "Made in America Validator Network" (MAVAN) in April this year. In its April disclosure, the company mentioned that some staked ETH had already been deployed on MAVAN, but did not specify the exact amount. BitMine's staking holdings were 4,879,157 ETH at the beginning of July, surpassed 5 million on August 9, and have remained stable in the subsequent four weekly disclosures. The company's chairman, Tom Lee, has stated that BitMine's staked ETH amount exceeds that of any other entity.

first_img Ethereum developers propose upgrading the staking contract to defend against quantum attacks

According to CoinDesk, Ethereum researchers have proposed rebuilding the validator deposit contract to support a new cryptographic system and ultimately stop accepting deposits protected by the existing BLS signatures. This proposal targets the deposit contract, aiming to add a switch that prevents the network from accepting the currently relied-upon signature format.Currently, the contract only accepts BLS keys because their exact size is hardcoded, while the new draft allows for different key sizes, with each deposit tagged by the cryptographic system used, where BLS receives a tag of zero, reserving space for future schemes.If the proposal is approved, it will initially operate with BLS deposits, while other schemes can be registered simultaneously. Future decisions may permanently disable new BLS deposits, at which point validators who have staked using BLS keys will not disappear, but new validators will not be able to join using this method. Ethereum will ultimately need to change separately to inform validators how to check new signatures. This is part of the migration for validators, while another part is already in progress—EIP-8141 framework transaction proposals will allow regular Ethereum accounts to change the cryptographic method for approving transactions without changing their address.The urgency stems from research released in March by Google's Quantum AI research department, which outlined five quantum attack paths against Ethereum, putting over $100 billion in assets at potential risk. The Ethereum Foundation is advancing core protocol changes with a target around 2029. Currently, the amount of ETH staked in Ethereum is approximately 42.4 million, valued at about $10.4 billion.
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