As an Ethereum 2.0 validator, you can earn up to 10.3% rewards annually for staking your ETH stash, says a senior executive at ConsenSys.
Collin Myers, ConsenSys’ global product strategy manager outlined the requirements to become an Ethereum 2.0 validator. The main requirement is to hold a minimum of 32 Ether (ETH) in your wallet, valued at $5,994 at the time of this publication. The news was revealed October 25 at Devcon 5; the popular annual blockchain event.
What is Ethereum 2.0?
Advertised as a major network upgrade, Ethereum 2.0 aims to rebrand Proof-of-Work consensus algorithm as Proof-of-Stake; taking block validation function away miners, passing them to network validators. Anyone who stake 32 Ether is automatically an Ethereum 2.0 validator.
When is Ethereum 2.0 getting released?
Early this year, Ethereum core developers agreed to transition the Ethereum network to Ethereum 2.0 on January 3, 2020.
An Ethereum 2.0 Calculator? What is it?
Mr. Myers also revealed Ethereum 2.0 Calculator at the event. It’s a brand new web application Ethereum 2.0 validators can use to calculate rewards based on transaction fees traders paid to use the network. There is an official Telegram group dedicated to discuss ETH 2.0 Calculator.
Vitalik Buterin, Ethereum’s co-founder, yesterday voiced his opinion towards Google’s highly-anticipated quantum computing taking the Internet by storm right now.
“Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things.”
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