Bitmain founder leaves Bitcoin mining aside and focuses on Stake in Ethereum 2.0
As Wu revealed, he is now focused on promoting staking in Ethereum 2.0. Through Matrixport, a company based in Singapore, the entrepreneur will start offering pools for validation, via stake, in ETH 2.0.
According to him, his focus is to help implement the series of interconnected updates designed to improve the scalability, security and sustainability of the Ethereum network.
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“It is part of the company’s effort to bring to market innovative offerings that benefit the long experience of cryptocurrency users,” said Wu.
Wu also highlighted that Ethereum’s transition from Proof of Work, or PoW, to Proof of Participation, or PoS, is an important milestone for the ecosystem. However, few users can participate in this due to 32 ETH requirements to be a validator.
Thus, his contribution will be to eliminate these barriers and introduce investors to the new world of smart contracts.
To participate in the pool, 5 ETH is required to obtain annual returns of up to 10% on blocked assets.