By acquiring the team behind Prysm, Ethereum’s most popular consensus layer client, Arbitrum is stretching its layer 2 tentacles down to Ethereum’s base layer.
The Ethereum blockchain has become more centralized following the shift to proof-of-stake as 60% of validators are managed by only four companies, the report said.
Lex Sokolin, head economist of decentralized protocols at ConsenSys, joined CoinDesk TV’s “First Mover” to discuss why ether could be seen as a store of value as regular and institutional users stake their tokens on the network.
The Coinbase Wrapped Staked ETH (cbETH) will have several uses, including selling and transferring staked ETH as well as using it as collateral in DeFi protocols.