How does stETH (staked Ethereum) work?

3 answers

• Nov 23, 2021 · 3 years ago
  Sure! stETH, also known as staked Ethereum, is a token that represents a user's stake in the Ethereum 2.0 network. When you stake your Ethereum, you lock it up in a smart contract and receive stETH in return. This allows you to participate in the Ethereum 2.0 network and earn rewards for validating transactions. The benefits of stETH include earning a passive income through staking rewards and contributing to the security and decentralization of the Ethereum network.
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• Nov 23, 2021 · 3 years ago
  stETH works by allowing Ethereum holders to stake their coins and earn rewards for securing the Ethereum 2.0 network. When you stake your Ethereum, it becomes locked and cannot be accessed or transferred until the Ethereum 2.0 network reaches a certain level of maturity. In return for staking, you receive stETH tokens, which represent your stake in the network. These tokens can be traded or held to earn staking rewards. Overall, stETH provides a way for Ethereum holders to actively participate in the network and earn a passive income.
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• Nov 23, 2021 · 3 years ago
  stETH, short for staked Ethereum, is a token that represents your stake in the Ethereum 2.0 network. When you stake your Ethereum, you receive stETH tokens in return. These tokens can be used to earn rewards by participating in the network's consensus mechanism. stETH allows you to contribute to the security and decentralization of the Ethereum network while earning a passive income. It's a great way to put your Ethereum to work and benefit from the growth of the Ethereum ecosystem.
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