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What is Rocket Pool coin (RPL) and how does it work?

by Financial Economy

The first of its kind, Rocket Pool offers Ethereum Proof of Stake infrastructure service. The project was designed and built by Vitalik Buterin based on Mauve Paper released in late 2016. Detailed information about what is Rocket Pool coin (RPL), how does it work, how much it costs, how to buy, etc. is in the continuation of the content. You can browse here for information about Convex Finance coin (CVX).

What is Rocket Pool coin (RPL) and how does it work?

Rocket Pool is the next generation, decentralized (Proof of Stake) online platform for staking Ethereum. It is available to a wide variety of users who can participate, regardless of their technical expertise, the type of hardware they use, or the amount of ether available.

Rocket Pool was launched in 2016 by Australian developer David Rugendyke. Since then, the platform has been in development for the upcoming upgrade of the Ethereum network. The platform’s cryptocurrency is Rocket Pool coin (RPL).

The Ethereum community has decided to move from Proof of Work (PoW) to a Proof of Stake (PoS) consensus algorithm. This transition means that the role of miners will weaken and staking will become the dominant way of verifying transactions. Compared to the existing network, the new version known as Ethereum 2.0 will be much more advanced and efficient. In preparation for the ensuing changes, many teams have started developing services and platforms that will allow users to reach a new consensus, regardless of their technical knowledge or the amount of tokens they own.

Where to buy Rocket Pool coin (RPL)? How much is the RPL price?

The Rocket Pool coin (RPL) can be purchased from the listed cryptocurrency exchanges, but it is necessary to make sure that the exchange is “trusted.” As of October 6, 2021, the price of 1 RPL coin is around $31.87.

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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