Place/Date: United States - October 24th, 2022 at 3:45 pm UTC · 4 min read
Contact: Jessica, Source: a16z
a16z, known as the “Rolls Royce” of the venture capital industry, has launched a pledge mining pool of Ethereum for crypto investors after the official merger (The Merge), offering millions of dollars in rewards to ensure higher returns than the hash rate. This node invitation for high returns in the market undoubtedly reveals that a16z has a favorable attitude towards the merged Ethereum.
The wheel of history never stops, and an event that will set the future landscape of the blockchain field is staged on September 15, 2022. On this day, the 8-year-old Ethereum will complete its merger (The Merge). 420,000 people will participate in the verification, more than 7,000 active nodes around the world will collaborate together, and tens of thousands of blockchain teams will make their choices. This system upgrade has shaken the attention of all crypto practitioners, and major mainstream financial regulators, semiconductor magnates, and domestic and foreign Internet magnates are all focusing on this event.
The uproar is inevitable because as the world’s largest decentralized Internet platform and the most innovative blockchain and Web3 ecosystem, the Ethereum merger is arguably the most complex system upgrade since its inception and is of great significance. Of course, this upgrade is not a spur of the moment, as Vitalik Buterin, the founder of Ethereum, has publicly stated: he has been preparing for this merger for six years.
The merger of Ethereum means a complete upgrade of this giant decentralized system with a market value of $200 billion, which now has more than 3,000 developers and millions of users, and whose ecology runs more than 400 DeFi (decentralized finance) projects, 130,000 NFT contracts and more than 7,500 active nodes, which will witness and participate in this upgrade together.
In the past two years, ethereum has been running two parallel networks underneath, one is the PoW (proof of work) block chain, which was initially available, and the other is the PoS (proof of stake) block chain which has been running only in the past two years, both of which have corresponding interest groups standing behind them respectively. And the purpose of the Ethereum merger is that it will officially run PoS fully and replace PoW completely without any downtime.
This upgrade is a true demonstration of determination to realize the vision of Ethereum, that is, higher scalability, security and sustainability, and the investors around the world will also witness a $100 billion capital reshuffle and redistribution of interests. The capital magnates in the field have come out, among which the most decisive execution is undoubtedly a16z, full name Andreessen Horowitz, since the last name of the two founders, founded by Marc Andreessen and Ben Horowitz in 2009, managing a total of $19.2 billion in funds, with a keen sense of smell and decisive execution style, the company is rapidly expanding its investment landscape.
As an old capital magnate in the crypto field, a16z has invested in many famous internet companies including Skype, Facebook, Twitter, Instagram, Groupon, Zynga, Foursquare, etc. during the Web2 period. In recent years, a16z has become the “top star in the crypto field.” In 2013, a16z led a $25 million Series B round in cryptocurrency exchange Coinbase and has since invested in Coinbase seven times. a16z became the biggest external winner when Coinbase’s market cap topped $100 billion when it went public in 2021. It can be said that a16z investment strategy is both early and growth stage projects, the company was able to invest in Instagram in the seed round, grab Github in the Series A competition, and lead a $150 million investment in Roblox in the Series G round.
This time, a16z launched a pledged mining pool of Ethereum for investors in the crypto field and offered millions of dollars in rewards to ensure higher revenue than the hash rate and add additional subsidies (subsidized revenue can reach more than 20%). This is a display of a16z’s favorable attitude towards the Ethereum merger, and a great opportunity for crypto investors to jointly become PoS nodes after the Ethereum merger.
Ethereum’s determination to break all doubts from the outside world and decisively execute the merger is invaluable, as Andreessen, one of the founders of a16z said: “A distinguished career is always different.”
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