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Khurram Shroff, the chairman of the Dubai-based IBC group and well-known Bitcoin whale, congratulated the Crypro community today for coming together for the Ethereum 2.0 deposit agreement that has passed its deposit threshold. The Genesis launch was released on December 1stst 2020, thanks to the intense mobilization and interest in Ethereum 2.0 led by Khurram Shroff.
When Khurram Shroff endorsed CanETH – a Canada-based institutional-grade staking service for Ether holders – went into staking, the total stake was 80,000 Ether, with real concerns that the deposit threshold might not be achieved. In ten days, CanETH, along with Bitcoin Suisse, emerged as one of the biggest known stakers on Ethereum 2.0. CanETH manages the infrastructure for 20,000 validators, valued at $ 300 million, and has influenced the Ethereum community to not only reach the beacons chain deposit threshold, but to surpass the 800K Ether target at press time.
“Vitalik Buterin, the co-founder of Ethereum, as well as the entire Ethereum community deserve congratulations on the successful launch of Ethereum 2.0 Genesis,” said Khurram Shroff. “The new proof of stake concept, which is central to version 2.0, has the potential to transform Blockchain, making it faster, scalable, much less energy-intensive and more profitable for investors.”
In addition to investing approximately 20,000 ETH (worth $ 10 million), Khurram Shroff supported a DeFI project, through CanETH, in support of the Initial Staking community of 16,384 ETH2 Validators. Khurram’s strong support for the launch of Ethereum 2.0 Genesis has produced groundbreaking results, ushering in what many refer to as the “new era of Blockchain”.
Blockchain’s “Proof of Work” model, which Ethereum 2.0 seeks to replace, consumes 1% of the world’s electricity, more than several nations around the world. “The” Proof of Stake “approach adopted by Ethereum 2.0 is in tune with our concerns about climate change and has the ability to make huge improvements to Blockchain technology, while consuming much less electricity,” elaborated Khurram Shroff. “It removes a significant obstacle to making Blockchain-based decentralized and distributed consensus accessible to a larger slice of humanity,” Khurram concludes.
