Ethereum’s Rocket Pool Upgrades to Atlas: Everything You Need to Know

It is reported that the Ethereum liquidity pledge agreement Rocket Pool will be upgraded to Atlas on April 13, and 8 ETHs can be pledged on nodes (provided that the Rocket Pool requirements are met). The Atlas upgrade features improved agreement efficiency, higher rewards for node operators, and increased rETH capacity. It still requires no license at all. The most important function of Atlas is the RocketPool verification node Minitools LEB8’s. Currently, when a node operator wants to create a mini mining pool, it must provide 16 ETHs and receive 16 ETHs on behalf of the protocol. This means that a pledge verifier with 32 ETHs needs to be created on Ethereum. With the introduction of LEB8, the number of 16 ETHs will be reduced to 8 ETHs.

Rocket Pool will be upgraded to Atlas on April 13th

In the world of cryptocurrency, innovation and progress are the keys to success. The Ethereum network is no exception. Ethereum’s Rocket Pool, a decentralized Ethereum proof-of-stake (PoS) mining pool, is upgrading to Atlas on April 13, 2021. This upgrade brings significant improvements to agreement efficiency, increased rewards for node operators, and an enhanced capacity for rETH.

What is Rocket Pool?

Rocket Pool is a decentralized Ethereum PoS mining pool that enables users to stake their Ethereum or other ERC-20 tokens in a pooled validator. The platform allows users to provide liquidity, ensuring that anyone with a minimum deposit can participate in staking rewards. By pooling the funds in the Rocket Pool, the process of becoming a validator on the Ethereum network becomes more accessible to all users.

What is the Atlas Upgrade?

The Atlas upgrade is set to improve the Rocket Pool’s agreement efficiency, resulting in faster and smoother transaction processing times. Additionally, this upgrade means that node operators will receive higher rewards for their contribution to the Rocket Pool ecosystem. Atlas will also increase the rETH capacity of the Rocket Pool, making it possible to handle more transactions per second on the platform.

What are Minitools LEB8s?

The most significant function of Atlas is the introduction of RocketPool verification node Minitools LEB8s. Previously, when a node operator wanted to create a mini mining pool, they had to provide 16 ETHs and receive 16 ETHs on behalf of the protocol. This meant that a pledge verifier with 32 ETHs needed to be created on Ethereum. With the introduction of Minitools LEB8s, the required amount to create a mini mining pool will be reduced to only 8 ETHs. This means that users can create mini mining pools with a lower stake and more flexibility.

What Are The Benefits of Atlas Upgrade?

The Atlas upgrade is a significant advancement for the Rocket Pool ecosystem with several benefits, including:
1) Improved agreement efficiency: With faster and smoother transaction processing times, transactions on the Rocket Pool will be more efficient.
2) Increased rewards for node operators: Atlas will offer higher rewards to node operators contributing to the Rocket Pool ecosystem.
3) Enhanced rETH capacity: The upgrade will increase the capacity of the Rocket Pool, making it possible to handle more transactions per second.
4) Reduced barrier to entry for mini mining pools: The new LEB8s will make it easier for users to create mini mining pools with a lower stake requirement.

Conclusion

Rocket Pool’s Atlas upgrade offers exciting new features and benefits for users. The improved efficiency, higher rewards for node operators, and enhanced rETH capacity make it an excellent option for users seeking to participate in Ethereum’s PoS ecosystem. The reduced barrier to entry for mini mining pools also makes Rocket Pool a more accessible option for users.

FAQs

1) What is Rocket Pool?
Rocket Pool is a decentralized Ethereum PoS mining pool that enables users to stake their Ethereum or other ERC-20 tokens in a pooled validator.
2) What is the significant function of Atlas?
The introduction of Rocket Pool verification node Minitools LEB8s will reduce the amount required to create a mini mining pool to only 8 ETHs.
3) What are the benefits of Atlas upgrade?
The Atlas upgrade offers improved agreement efficiency, higher rewards for node operators, enhanced rETH capacity, and reduced barrier to entry for mini mining pools.