Ethereum’s Rocket Pool Upgrades to Atlas with Improved Efficiency and Increased Rewards

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

Introduction

Ethereum’s liquidity pledge agreement platform, Rocket Pool, is set for an upgrade on April 13, 2021. The latest upgrade, called Atlas, promises improved efficiency, higher rewards for node operators, increased capacity for rETH, and an easier process for creating mini mining pools.

What is Rocket Pool?

Rocket Pool is a decentralized Ethereum infrastructure for Ethereum 2.0 staking. It allows anyone to easily stake their Ether (ETH) and earn rewards without running their own validator node. The platform also allows node operators to launch mini mining pools and provide staking as a service to users, without having to maintain their own infrastructure.

The Need for an Upgrade

As the popularity of Rocket Pool grew, some users have reported delays and high gas fees when staking on the platform. The upgrade to Atlas aims to solve these issues and provide a more user-friendly experience, while also increasing the profitability of node operators.

The Benefits of Atlas Upgrade

Improved Agreement Efficiency

One of the core features of the Atlas upgrade is improved agreement efficiency. This means that fewer resources will be required to process transactions on the platform, resulting in lower fees and faster transaction times.

Higher Rewards for Node Operators

Node operators who pledge to Rocket Pool will be rewarded with a higher return on their investment. By reducing the amount of required pledge, the upgrade allows more people to participate in staking, resulting in a larger pool of validators and a more secure network.

Increased rETH Capacity

With the Atlas upgrade, Rocket Pool has increased the capacity for rETH, its native token that represents a user’s share in the Ethereum 2.0 staking pool. This allows more users to participate in staking and earn rewards.

Easier Mini Mining Pools Creation

The most important feature of Atlas is the Rocket Pool verification node, Minitools LEB8. 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.

Conclusion

The Atlas upgrade is a significant step forward for Rocket Pool and the Ethereum ecosystem as a whole. With improved efficiency, higher rewards for node operators, increased capacity for rETH, and an easier process for creating mini mining pools, more users will be able to participate in staking and earn rewards on the Ethereum network.

FAQs

Q1: What is Rocket Pool and how does it work?

A1: Rocket Pool is a decentralized Ethereum infrastructure for Ethereum 2.0 staking. It allows anyone to easily stake their Ether (ETH) and earn rewards without running their own validator node. The platform also allows node operators to launch mini mining pools and provide staking as a service to users, without having to maintain their own infrastructure.

Q2: What are the benefits of the Atlas upgrade?

A2: The Atlas upgrade includes improved agreement efficiency, higher rewards for node operators, increased capacity for rETH, and an easier process for creating mini mining pools.

Q3: Can anyone participate in staking on Rocket Pool?

A3: Yes, anyone can participate in staking on Rocket Pool. All you need is Ether (ETH) and a compatible wallet.