UAE entrepreneur Khurran Shroff ushers in a new era of blockchain

 Khurram Shroff, who led the charge to influence and mobilize a ten-fold increase in Stakes for the Genesis launch, believes that the new proof of stake model will revolutionize decentralized digital contracts.

 

Dubai, 2nd December 2020: Khurram Shroff, the Dubai-based Chairman of the IBC Group and a known Bitcoin whale, today congratulated the crypto 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.

 

Coinbase 2

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 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 terms 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 the 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/

 

UAE entrepreneur Khurran Shroff ushers in a new era of blockchain 1
blank
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.
blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 41,603.00
ethereum
Ethereum (ETH) $ 2,463.23
tether
Tether (USDT) $ 0.998285
binance-coin
Binance Coin (BNB) $ 333.12
cardano
Cardano (ADA) $ 1.31
xrp
XRP (XRP) $ 0.752829
dogecoin
Dogecoin (DOGE) $ 0.210436
usd-coin
USD Coin (USDC) $ 0.999681
polkadot
Polkadot (DOT) $ 16.41
binance-usd
Binance USD (BUSD) $ 0.999884
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 41,603.00
ethereumEthereum (ETH)
$ 2,463.23
tetherTether (USDT)
$ 0.998285
bitcoin-cashBitcoin Cash (BCH)
$ 544.95
litecoinLitecoin (LTC)
$ 143.76
bitcoinBitcoin (BTC)
35.041,17
ethereumEthereum (ETH)
2.074,72
tetherTether (USDT)
0,840830
bitcoin-cashBitcoin Cash (BCH)
459,00
litecoinLitecoin (LTC)
121,09
bitcoinBitcoin (BTC)
29,800.02
ethereumEthereum (ETH)
1,764.40
tetherTether (USDT)
0.715067
bitcoin-cashBitcoin Cash (BCH)
390.34
litecoinLitecoin (LTC)
102.97

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Hacks and Scam
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin41,575 0.44 % 7.29 % 24.27 %
Ethereum2,456.9 0.35 % 4.99 % 16.05 %
Tether1.000 0.21 % 0.05 % 0.20 %
Binance Coin332.16 0.23 % 7.32 % 11.60 %
Cardano1.310 0.78 % 3.82 % 8.75 %
XRP0.7517 0.17 % 4.07 % 23.34 %
Dogecoin0.2095 0.70 % 4.34 % 8.18 %
USD Coin0.9992 0.13 % 0.05 % 0.16 %
Polkadot16.31 0.80 % 11.31 % 22.15 %
Binance USD0.9984 0.18 % 0.05 % 0.56 %

bitcoin
Bitcoin (BTC) $ 41,732.00
ethereum
Ethereum (ETH) $ 2,600.73
tether
Tether (USDT) $ 0.996325
binance-coin
Binance Coin (BNB) $ 343.23
cardano
Cardano (ADA) $ 1.36
xrp
XRP (XRP) $ 0.768896
dogecoin
Dogecoin (DOGE) $ 0.217970
usd-coin
USD Coin (USDC) $ 0.998899
polkadot
Polkadot (DOT) $ 18.52
binance-usd
Binance USD (BUSD) $ 0.999337