The Dubai-based investment firm IBC Group has now teamed up with CanETH, the decentralized staking service from Canada, to support the launch of Eth 2.0 with $10 million. A total of 21,984 ETH for 687 validators will be funded. IBC Group says that it will support a new “greener model” of blockchain technology. Khurram Shroff, Chairman of the Group, said:
We are very excited by the ‘Proof of Stake’ concept proposed for the Ethereum 2.0 smart contracts and are locking up 20,000 eth which is a one way trip till phase 2. This lockup shows our confidence in ETH2 and dedication to the beacon chain. The greener and more efficient version being introduced in the second iteration addresses the unsustainably high energy consumption required by the ‘proof of work’ model, making it even more attractive.