eHive Successfully Deployed 10 ETH 2.0 Validators, V2

Tampa, Florida, Oct. 10, 2022 (GLOBE NEWSWIRE) — Following the release of Ethereum 2.0, eHive protocol, a community inspired experiment in DeFi Crowdsourcing built on the Ethereum Network, has successfully deployed 10 ETH 2.0 fully-operational validator nodes on the Beacon Chain. eHive intends to provide decentralized validation to every average market participant.

Ethereum Hive (eHive) is also excited to announce that the long-awaited eHive version 2 upgrade is almost complete. The V2 updates include a revised whitepaper (Whitepaper V2), a completely revamped website design (The Overhaul), and a lot more that is yet to be released.

Moreover, eHive has been listed on Indoex Digital Assets Exchange, and a number of listings on top 20 exchanges are on the way.

eHive Decentralized Validation

As the Ethereum Network migrated from the Proof of Work (PoW) model to the Proof of Stake (PoS) model, it altered the role of Miners with Validators in the verification of on-chain transactions. But the minimum funding required to operate a Validator is 32 ETH, which not every average user has. The main objective of eHive is to increase the accessibility of validation for the ordinary user and provide Ethereum’s smaller market participants a chance to share the rewards, by bringing crowdsourced validation. Whether a user has 0.01 ETH, 10 ETH, or 100 ETH, they may participate in the eHive protocol and earn rewards from the entire Validator Fleet using the $EHIVE token.

The Need for eHive Validation

The majority of DeFi and cryptocurrency users do not have a spare 32 ETH that they can lock up to run a Validator, which is the main reason Ethereum Hive was founded. Based on their current economies of scale, centralized companies provide staking to their users, but this has led to an oligopoly in the Ethereum Network’s validation and endangers the decentralization of the system as a whole. eHive seeks to concentrate its efforts on finding…