PHOTO
Dubai: Khurram Shroff, the Dubai based Chairman of the IBC Group and a known Bitcoin whale, today congratulated the crypro community on coming together for the Ethereum 2.0 deposit contract which has exceeded its deposit threshold manifold. The Genesis launch went live on December the 1st 2020, thanks to the intense mobilization and interest in Ethereum 2.0 driven by Khurram Shroff.
When Khurram Shroff backed CanETH - a Canada based institutional-grade staking service for holders of Ether - entered staking, total stakes stood at 80,000 Ether, with real concerns that the threshold deposit might not be reached. Within ten days, CanETH, along with Bitcoin Suisse, has emerged as one of the largest known stakers on Ethereum 2.0. CanETH is managing infrastructure for 20,000 validators, valued at $300 million, and has influenced the Ethereum community to not only achieve the beacon chain threshold deposit, but surpass 800K Ether staked at press time.
“Vitalik Buterin, the co-founder of Ethereum, as well as the entire Ethereum community deserve congratulations for the successful Ethereum 2.0 Genesis launch”, said Khurram Shroff. “The new proof of stake concept, which is central to version 2.0, has the potential to transform Blockchain, making it faster, scalable, far less energy intensive and more lucrative for investors”.
In addition to investing a stake of about 20,000 ETH (valued at $10 million), Khurram Shroff backed a DeFI project, through CanETH, to support of the Initial Staking community of 16,384 Validators of ETH2. Khurram’s strong backing of the Ethereum 2.0 Genesis Launch yielded revolutionary results, ushering in what many term as the ‘new era of Blockchain’.
The ‘Proof of Work’ model of Blockchain, which Ethereum 2.0 seeks to replace, consumes 1% of the world’s electricity – more than several nations around the globe. “The ‘Proof of Stake’ approach that Ethereum 2.0 takes, is in sync with our climate change concerns, and has the ability to make huge improvements to Blockchain technology, while consuming far less electricity”, Khurram Shroff elaborated. “It removes a significant hurdle to making Blockchain based decentralized, distributed consensus, accessible to a larger chunk of humanity”, Khurram concludes.
About Khurram Shroff
Khurram is an award winning global banking and finance leader, who has been featured in the prestigious list of the “Top100 Most Powerful and Influential Muslims in Great Britain and the World” by Power100. He is the Chairman of IBC Group, which is a substantial Global Real Estate and Tech investment company based in the UAE, as well as Chairman of Gallery Suites, which focuses on inspirational living with bespoke art collections in holiday home properties across Middle East and Asia.
About IBC Group
IBC Group Limited is a Substantial Investment Company based in the UAE since 2014, with a focus on private equity investment in Blockchain Technology, Real Estate and Art. Since its inception, the IBC Group Limited has focused on investments with a strategic, ethical and innovative strategy, leveraging strong partnerships and cutting edge technologies. https://www.ibccapital.org/
About CanETH Staking Service
CanETH Staking is the smartest Ether staking service. CanETH is a decentralised global network that offers ETH 2.0 staking for users. CanETH has a proprietary process to auto update scripts on the codebase. This integrates with Firewall rules and Port Forwarding to maximize staking rewards. CanETH is a participant in the Medalla testnet with active validators.
For more information or interviews please contact:
Neha Kaul
Your Wordsmiths - Content & PR
neha@yourwordsmiths.com
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
