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About Beacon ETH
Disclosures
Beacon ETH risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Beacon ETH. All crypto assets are risky, there are general risks in investing in Beacon ETH. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
Beacon ETH’s price performance
Beacon ETH on socials
Guides
Beacon ETH FAQ
BETH is a token associated with the Beacon Chain, a significant component that implemented the PoS mechanism in Ethereum. Essentially, BETH represents a version of Ethereum within Binance's network, enabling users to interact with Ethereum in the Binance ecosystem.
The primary benefit of using BETH stems from the staking process, where users earn BETH by staking their ETH. This staking mechanism not only provides an opportunity for users to earn rewards but also contributes to the security and overall health of the Ethereum network.
Users can easily buy BETH tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include BETH/USDT and BETH/ETH.
You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for BETH with zero fees and no price slippage by using OKX Convert.
Dive deeper into Beacon ETH
Before transitioning to its current consensus algorithm, Proof of Stake (PoS), Ethereum (ETH) relied on Proof of Work (PoW). Initially introduced by Bitcoin (BTC), PoW was considered groundbreaking technology. However, as time passed, it became evident that PoW was excessively energy-intensive, sluggish, and inefficient.
As a result, Ethereum faced elevated fees, prolonged transaction waiting times, and an overall perception of being outdated. To address these challenges, Ethereum decided to adopt PoS, which brought about enhanced scalability.
The PoS mechanism not only improved scalability but also significantly reduced energy requirements. However, the implementation of PoS required the introduction of the Beacon Chain and its corresponding token, BETH.
What is BETH?
BETH, also known as Beacon ETH, is a token associated with the Beacon Chain. The Beacon Chain was introduced to implement the PoS mechanism in Ethereum, ensuring its security and overall health. Additionally, it allows users to earn more ETH through the staking process.
In practice, users stake their ETH to activate validator software, effectively becoming validators within the network. Validators play a similar role to miners, but they secure the network by staking their coins instead of mining.
The BETH project team
Ethereum's own team of developers developed the BETH project as part of the transition to Ethereum 2.0. On December 1, 2020, it was established to formalize PoS as Ethereum's consensus mechanism through the Merge. This significant milestone was achieved on September 15, 2022, after more than two and a half years of work.
How does BETH work?
BETH and the Beacon Chain were designed as integral components to implement the PoS mechanism in Ethereum. This introduced a new approach for users to contribute to the security of the Ethereum network actively. Participating in staking and becoming validators provided a streamlined alternative to traditional mining methods.
Despite the change in mechanism, the network's security remains robust. Developers anticipated that the transition to PoS would enhance Ethereum's long-term security. As more participants join the network, it becomes increasingly decentralized, resulting in stronger defenses against potential hackers.
BETH native token — BETH
BETH, also known as Beacon ETH, is the native cryptocurrency of the Beacon Chain. It represents a tokenized version of ETH on Binance and was created in conjunction with the Beacon Chain to facilitate the transition of ETH to Proof of Stake (PoS). Like ETH, BETH maintains the same price and can be utilized for trading, investing, transferring, or purchasing goods and services.
BETH token use cases
Similar to ETH, the BETH token offers a range of use cases. Holders can engage in trading activities or use it for investment purposes. Additionally, it can be accepted as a payment method and freely transferred between users.
BETH: A project that secured Ethereum’s future
BETH has played a significant role in Ethereum's successful transition to PoS, thereby ensuring the security and longevity of the Ethereum network. Thanks to BETH, Ethereum has evolved into a more attractive project that continues to attract users. Moreover, BETH holds value as a useful token within the Binance ecosystem for those who wish to engage with Ethereum.
Disclaimer
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