Crypto-staking sector about to light up

Ethereum 2.0 updates – ushering in the network’s adoption of Proof-of-Stake (PoS) consensus mechanisms – could very well ship later this year or early next.

And when it does, JPMorgan analysts say, the crypto-staking sector could explode.

In a new report, analysts explain how Ethereum’s planned PoS push will take institutions and retail investors on a massive choose-your-own-high-yield adventure.

A purportedly energy-efficient alternative to the Proof-of-Work approach associated with mining (cast of late as unsustainable), PoS is a method of securing a network. Users stake their tokens; then get to help maintain the blockchain, and in return they are rewarded like a credit union depositor circa 1981, i.e. with meaningful interest (10%-20%).

Staking across all cryptos generates an estimated $9 billion annually. This new JPMorgan report predicts total staking rewards could reach $40 billion over the next four years.

Just a few days ago, Bitcoin craned its neck well above $36,000. It’s been steadily chopped off since, albeit with some pockets of near-blissful stability – so sweet, sideways, when the bears seize momentum.

Now, for the past few days, analysts have cast laser eyes on the $33,000 threshold. And as of Friday morning at 8:15 a.m. (EST), BTC was $33,100. Compared to yesterday at this time, BTC's declined 1.5%.

Even in the famously volatile crypto market, Internet Computer (ICP) has become something of a sore thumb.

"The stunning climb and crash of this prominent project has market watchers puzzling about what happened," The New York Times said the other day, "and who may have profited."

Let’s assume/hope the project survives this current firestorm, because its mission is critical.

What is ICP’s quest? To seek the Holy Grail, that is, disrupt the foundations upon which the entire internet relies. We’re talking about data centers hosted by cloud providers, viewed, in the context of a world at cyber war, as dangerously centralized.

As ICP draws heat, there's another decentralized host quietly sizzling: The InterPlanetary File System (IPFS). Developed by Protocol Labs, IPFS is a peer-to-peer protocol for file-sharing and website hosting that runs across thousands of computers.

IPFS has quickly become a de facto destination to store the data used to enable companies to do business on the blockchain (Decrypt).

The Bitcoin Mining Council (BMC) has quickly evolved from mere twinkle in MicroStrategy CEO Michael Saylor’s eye and into an actual entity that is making itself relevant with an inaugural quarterly survey focused on electricity consumption.

Billed as the voluntary global forum of mining companies, the BMC says it has collected sustainable energy information from roughly one-third of the global mining network.

According to survey results, the global mining industry’s sustainable electricity mix is about two-thirds of the sector's total, and, thus, this clean portion is estimated to have grown 56% during the second quarter (BeInCrypto).

AZ Alkmaar said yesterday it is set to become the first professional football club in the Netherlands to pay player salaries in Bitcoin. Known simply as "AZ," the club plays in the Eredivisie, the Netherlands’ most prestigious league. Crypto broker Bitcoin Meester has been tapped as the club’s exclusive crypto partner.

VeChain Vaccination Passport Stamped In San Marino: The tiny Republic of San Marino has given the stamp of approval to VeChain’s NFT-based vaccination passport. This 24-square-mile nation – surrounded by Italy and perched majestically in the shadow of Mount Titano – will roll out the “San Marino Digital Covid Certificate,” according to Cointelegraph.

Said to be the world's oldest surviving republic, San Marino each year hosts more than 3 million visitors drawn to Mediterranean summers that can be mostly dry and sunny.