The exchange Bitfinex announced today that it now supports trade in ETH 2.0, which gives its users the ability to enter and exit the stake in Ethereum.
As we know, in fact, with Ethereum 2.0 you can stake your ETH to receive rewards based on the number of cryptocurrencies you block.
Currently, there are more than 3 billion dollars in the ETH 2.0 deposit agreement.
At Bitfinex you can trade with different pairs:
- US Dollar (ETH2 / USD),
- Ethereum (ETH2 / ETH),
- and of course the Tether stablecoin (ETH2 / USDt).
This new feature announced by Bitfinex will be available starting tomorrow, January 21, 2021 at 2:00 p.m. UTC.
Paolo Ardoino, Bitfinex CTO, explained:
“We are pleased to launch ETH 2.0 trading in our peer-to-peer markets. This will provide our growing customer base with another avenue to participate in a monumental event in crypto, the ETH 2.0 game. "
Ethereum 2.0 on Bitfinex
In any case, Bitfinex already announced last December that it also supports ETH 2.0 staking, with no minimum amount to block.
In fact, phase zero of the Ethereum 2.0 launch took place in early December, when the first block of the Beacon chain, proposed by validator 19026.
In total, at the beginning of this process, there were more than 21,000 active validators, with more than 674,000 ETH at stake.
This Beacon Chain is the first phase that will then allow the development of new technologies and features that the speed of the Ethereum network will take off, thanks to the introduction of Proof of Stake (PoS).
Before, in fact, Ethereum was a Proof of Work-based blockchain like Bitcoin, but in order to have a more scalable structure and therefore faster and less expensive fees, Vitalik Buterin and his developers wanted to change the way of consensus , also because with the diffusion of DeFi, Ethereum needs to satisfy an increasing number of users.