Ethereum 2.0 is one of the most – if not the most- anticipated launches of 2020. The second-largest cryptocurrency’s shift to a Proof-of-stake (PoS) network has left people expecting.
In Ethereum 2.0, as per its name, the network’s operation would be dependent on its validator integrity (stake). ConsenSys Codefi explained how the network would supervise this integrity in the network’s Phase 0.
Ethereum 2.0
In order to become a validator, the percent must stake at least 32 Ether (ETH). Regardless of the actual stake volume, all rewards and penalties in the operations would be a function of the user’s effective balance that should be at least 32 ETH.
When the user’s balance drops below 16 ETH (due to penalties), the user would be forcefully excluded from the network. Such a move would be decided based on the user’s activity as a block proposer – the one who launches the block – or as the attestor -the one who verifies it.
The user might be excluded due to the following reasons
- As a proposer, signing multiple blocks for the same spot.
- As an attestor, signing an attestation that contradicts another one.
- As an attestor, signing two attestations with the same target.
The offender would be caught by a whistleblower who would receive a reasonable part of the offender’s stake as a reward for being cautious and aiding the network.
As per Codefi’s estimate, a validator can make 1.8 ETH every dozen minutes for every million Ethereum that he has staked. As per this estimate, it is economical to stake a reasonable part amount of Ether in one stake. As such, the Ethereum operations would be rewarding for the user while allowing the network to function properly.
Featured image by pixabay.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
