The migration to the proof-of-stake consensus appears to be progressing well by all numerical accounts, potentially signifying an anticipatory demand for the network’s long-awaited upgrade.
Quantitative analysis conducted on popular blockchain site Etherscan indicates that 184,441 transactions have been responsible for 10.2 million Ether (ETH) staked into the Eth2 (consensus layer) deposit contract since inception on Nov. 4 last year. This figure is equivalent to over $26 billion, based upon current Ethereum prices.Mathematical calculations suggest that the milestone was surpassed during block 14348729 in the evening of March 8, identified by mainstream cryptocurrency publications and community advocates in the last few hours.In late January of this year, the Ethereum Foundation published an alteration to the network’s terminology, with the initial proof-of-work blockchain, or Eth1, now being referred to as the execution
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