The Abra team, which provides cryptocurrency services, said today that it now supports ETH2 staking. Users can stake ETH to produce ETH2 rewards as Ethereum switches to Proof of Stake. Once staked, ETH2 is locked and will be staked indefinitely until Ethereum 2.0 is fully functional and Abra permits withdrawals. Before 2022 comes to a close, the Ethereum 1.0 and Ethereum 2.0 networks will be fully integrated. Big news! #Abra now supports #Staking on #ETH2! Update your #AbraApp to get access to this new feature today. Learn more on our #Blog 👇 https://t.co/hXeF7N5YBI — Abra (@AbraGlobal) July 7, 2022 Ethereum Blockchain Network Also referred to as Ethereum 2.0, ETH2 is intended to be a significant improvement to the Ethereum blockchain network. It consists of a series of steps that lead to the switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Avalanche, Cardano, and Solana are just a few of the huge blockchain networks that already employ the PoS consensus process. By switching to PoS, Ethereum hopes to increase transaction efficiency, which will lead to quicker processing times, cheaper gas costs, and higher security. Anyone can join the Ethereum network as a staker, also known as an ETH2 validator, thanks to PoS. By staking ETH2, users pledge money to the network’s security and ensure that only valid transactions are approved. Stakers receive staking rewards in the form of ETH2 for their efforts in securing the Ethere...
