Binance Beacon ETH BETH Price $ 3,053

Binance Beacon ETH is a tokenized asset representing ETH staked in a Binance ETH 2.0 Staking program. Binance tokenizes BETH for users that represents their staked ETH on a 1:1 basis to keep using locked assets for trading and withdrawals. User can change BETH back to ETH when ETH 2.0 Phase One goes live.

Beacon Chain will introduce proof-of-stake to Ethereum. This is a new way for you to help keep Ethereum secure. It could be thought as a public good that will make Ethereum scalable and earn participants more ETH in the process. In practice, it will involve participants staking ETH in order to activate validator software. As a validator user will process transactions and create new blocks in the chain. If someone wants to become a validator on Ethereum 2.0, he/she is required to stake a minimum of 32 ETH.

Binance launched the “ETH 2.0 staking” service to provide everyone with an accessible Ethereum 2.0 staking. Anyone can start in a few clicks with just 0.1 ETH, and Binance will cover all validator operating expenses and bear the risk of on-chain penalties. All on-chain staking rewards will be distributed to users.

Staking and becoming a validator is easier than mining (how the network is currently secured). And it's hoped this will help make Ethereum more secure in the long run. The more people that participate in the network, the more decentralized and safe from attack it will become.