The Ethereum Foundation ETH2, The Biggest Update For Etherum | From PoW To PoS

[CryptoCrawler_2017]

As You all know The Ethereum Foundation is making the biggest upgrade of it's Blockchain & how it's going to be run.
Ethereum 2 is about to take off their Testnet, probably August 4th if the minimum needed validators count of 16,384 are allocated.

For this reason etherum Foundation created  this  eth2 validator Launchpad:
https://medalla.launchpad.ethereum.org

The basics of Ethereum 2 is to migrate from Proof Of Work (PoX) to Proof Of Stake (PoS). this means it's time to ditch miners & sticking to PoS.

After locking the sum of 33 ETH, the node owner will have to generate & upload his public keys to the deposit smart contract to be verified.

How much will an Etherum 2 Validator Earn Doing This?
By running your staking node, you'll be able to earn a passive income in ETH of up to %10.3 on yearly basis.

Timeline and milestones: Eth2 will be released in several phases:


It's a long journey to achieve for Etherum 2 & this will make Etherum as we know right now skyrocket in price value & become one of the best Asset Of Value same as Bitcoin.

10% yearly profit doing almost nothing, no mining, not elecricity cost for you miner ... no more bills, just get your ETH ready & load your node & get the easiset ETH you'll ever have is most probably on of the biggest dream of old ETH holders.

The demand on Etherum will differently make it more  valuable for the next coming months.

Source: https://blog.ethereum.org/2020/07/27/eth2-validator-launchpad/

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[dudusix9]

It's great to see ETH2.0 tested without any issues showing up at all, this is one of the reasons why ETH pumped like crazy for the past few days.

You also have to admire what Vitalik and the team is doing, they're not stopping with the project development and is kinda similar to what NEM has been doing. If ETH2.0 is for ETH, they got Symbol which is blockchain for businesses, people are already using it prior to their token launch.

[qazgroup]

Ethereum is potentially the biggest coin in the market At the moment and with all these upgrades and pos coming the demand for eth will sky rocket and so will the value as upto 10% passive returns for holding eth and running node will attract big whales into investing in eth.

[passwordnow]

I still have some questions about the Ethereum staking. Like the actual return profit, are those the actual profits like stakers will get? the 10%?

[Pffrt]

we know right now skyrocket in price value & become one of the best Asset Of Value same as Bitcoin.

Are you kidding with us, dude? What did you refer with the term VALUE? Did you mean the marketcap or the price? Anyway, as long as ETH supply isn't limited, I can't see something big for ETH. The chance of having an ATH is too low provided the usage of ETH has been decreased significantly. Also, only updating to PoS doesn't make it more valueable coin. You know the staking process isn't so easy because there will be a requirement of 32(33?) ETH to hold on which I think not a lot of people will favor. Anyway, there are a lot of PoS coin out there, although they are not much popular. Although PoS has a greate benefit over PoW, I still think that it will not bring much influnce at the end. May be a short time pump.

I still have some questions about the Ethereum staking. Like the actual return profit, are those the actual profits like stakers will get? the 10%?

You don't know how PoS work? You will get rewards time to time, not all the reward at once.

[Westfiled]

There was a question that I can't find the answer OP and how long the locking period for our staked ethereum? I have visited that site but I can't find the answer for that question.

It looks like the threshold will have achieved asap.

[bigcash2011]

Cannot wait more for Ethereum 2.0 to be finally functional and live especially the conversion of algorithm from pow to pos although we are just in testnet phases as of now but the excitement is real and i think it will keep growing till the launch of eth 2.0 which will be awesome for not only eth supporters but all the crypto community as a whole. The benefits will surely give eth an edge over all other blockchain networks.

[StreakW]

I never learn about ethereum 2.0, and I believe an upgrade from POW to POS will make ethereum be better and have many features

I just want to know, is ethereum 2.0 will bring a solution for fee?? Because the fee of ethereum is so high

[timmmers]

If you earn up to 10.3% interest per year, then it also means that also the inflation rate will be around 10%. That means that you will need 10% more buyers to maintain its value.

[CryptoCrawler_2017]

I still have some questions about the Ethereum staking. Like the actual return profit, are those the actual profits like stakers will get? the 10%?

As far as i know hat's how it will work mate:
To become a Staking Node you'll have to lock the number of 33 Etherum. he annual profit is 10%, which in my opinion is huge & is gonna make Etherum fly to the sky (literally).
this is going to b a test net though, we'll have to wait for the official live net to see how things is going to be.

[darewaller]

I hope they reach the number of validators that’s required to start launching the project. The last time I checked that link they have not even gotten to half of the 16,384 validators that are needed, although they are almost close to half. Looking forward to more people signing up as validators and finally launching the project.

It's a long journey to achieve for Etherum 2 & this will make Etherum as we know right now skyrocket in price value & become one of the best Asset Of Value same as Bitcoin.

Lol, Ethereum is already one of the best cryptocurrency in the market. Apart from Bitcoin, ETH is the best cryptocurrency there is, for me, much better than the other cryptocurrencies and it’s usually worth investing. There is definitely going to be increase in the price value after this is successful.

[kingzpro]

Really great to see eth developers working round the clock to make Eth 2.0 a reality as soon as possible, the real events will be mainnet launch and then full implementation of eth 2.0 with change of algorithm from pow to pos, really excited for a fully loaded year for ethereum and its hodlers.

[Searing]

Really great to see eth developers working round the clock to make Eth 2.0 a reality as soon as possible, the real events will be mainnet launch and then full implementation of eth 2.0 with change of algorithm from pow to pos, really excited for a fully loaded year for ethereum and its hodlers.

if you put up the 33 ETH for a testnet Eth.2.0 Node....are you automatically in to run a node when it goes live? Curious.

Brad

[shakesbear]

Good news, but as we all know, Vitalik and his friends like to do their work efficiently, so I'm sure that the final testing will take some time.

[velive08]

If you earn up to 10.3% interest per year, then it also means that also the inflation rate will be around 10%. That means that you will need 10% more buyers to maintain its value.

the inflation rate can be reduced maybe below 10% is not a problem. but keep in mind also to retain buyers it is necessary because indeed inflation will be easier to increase if there are fewer buyers

[Gorosden]

I never learn about ethereum 2.0, and I believe an upgrade from POW to POS will make ethereum be better and have many features

I just want to know, is ethereum 2.0 will bring a solution for fee?? Because the fee of ethereum is so high

I dont know how this will work out but I do hope for the best to happen with Ethereum, honestly speaking eth should be trading at 1000$ by now because it's the second best after Bitcoin, now that the POW Hash is going off the rail I hope POS suits ETH very well, hopefully.

[Yaunfitda]

I never learn about ethereum 2.0, and I believe an upgrade from POW to POS will make ethereum be better and have many features

I just want to know, is ethereum 2.0 will bring a solution for fee?? Because the fee of ethereum is so high

I dont know how this will work out but I do hope for the best to happen with Ethereum, honestly speaking eth should be trading at 1000$ by now because it's the second best after Bitcoin, now that the POW Hash is going off the rail I hope POS suits ETH very well, hopefully.

Why don't you wait for it to happen though? It's not that it can go on a massive price speak and reaches $1000k right after the POS or Eth2.0 upgrade. Even bitcoin doesn't go on like that after the halving. It will take some time for the market to mature first and of course the eventual bull run before we can see ETH at 4 digits again. We still have a lot of legroom to work at this point and overcome lots of obstacles for it to be successful.

[tvplus006]

If you earn up to 10.3% interest per year, then it also means that also the inflation rate will be around 10%. That means that you will need 10% more buyers to maintain its value.

But even when mining Proof of Work, coins were added, which also led to inflation. It is possible that when switching from Proof of Work to Proof of Stake, the number of coins produced will be less, because the reward will only be awarded to those who fulfill the conditions of holding 32 ETH.

[pilosopotasyo]

10% profit for 33 Ethereum is already a good profit if compared it to any banks in the world, this is the reason why people are so into Ethereum now in the market many wants to stake now that Ethereum is still cheap could not have the better time to buy Ethereum for the up and coming POS this is an event everyone in Crypto are looking forward.

[leea-1334]

Not everybody will have 33 ETH though,,, for sure not me, that is currently what over $13000 worth of ETH in my country you would have to be definitely upper middle class at least to be able to do this.

Anyway good luck to you guys. I hope 10% gains in a year do not make price fall.

[bttmember]

As You all know The Ethereum Foundation is making the biggest upgrade of it's Blockchain & how it's going to be run.
Ethereum 2 is about to take off their Testnet, probably August 4th if the minimum needed validators count of 16,384 are allocated.

For this reason etherum Foundation created  this  eth2 validator Launchpad:
https://medalla.launchpad.ethereum.org

The basics of Ethereum 2 is to migrate from Proof Of Work (PoX) to Proof Of Stake (PoS). this means it's time to ditch miners & sticking to PoS.

After locking the sum of 33 ETH, the node owner will have to generate & upload his public keys to the deposit smart contract to be verified.

How much will an Etherum 2 Validator Earn Doing This?
By running your staking node, you'll be able to earn a passive income in ETH of up to %10.3 on yearly basis.

Timeline and milestones: Eth2 will be released in several phases:


It's a long journey to achieve for Etherum 2 & this will make Etherum as we know right now skyrocket in price value & become one of the best Asset Of Value same as Bitcoin.

10% yearly profit doing almost nothing, no mining, not elecricity cost for you miner ... no more bills, just get your ETH ready & load your node & get the easiset ETH you'll ever have is most probably on of the biggest dream of old ETH holders.

The demand on Etherum will differently make it more  valuable for the next coming months.

Source: https://blog.ethereum.org/2020/07/27/eth2-validator-launchpad/

If the reward for staking will be 10% get ready for Eth to really boom to moon and 5k will be realistic target because big money will rush to stake Eth by purchasing from the market resulting in higher demand and more value.
But as far as i have read somewhere else the annual staking reward will be around 5%, the official percentage will only be revealed when pos is launched but the demand for ethereum is going to grow in any case.

[Zeehaxan]

As You all know The Ethereum Foundation is making the biggest upgrade of it's Blockchain & how it's going to be run.
Ethereum 2 is about to take off their Testnet, probably August 4th if the minimum needed validators count of 16,384 are allocated.

For this reason etherum Foundation created  this  eth2 validator Launchpad:
https://medalla.launchpad.ethereum.org

The basics of Ethereum 2 is to migrate from Proof Of Work (PoX) to Proof Of Stake (PoS). this means it's time to ditch miners & sticking to PoS.

After locking the sum of 33 ETH, the node owner will have to generate & upload his public keys to the deposit smart contract to be verified.

How much will an Etherum 2 Validator Earn Doing This?
By running your staking node, you'll be able to earn a passive income in ETH of up to %10.3 on yearly basis.

Timeline and milestones: Eth2 will be released in several phases:


It's a long journey to achieve for Etherum 2 & this will make Etherum as we know right now skyrocket in price value & become one of the best Asset Of Value same as Bitcoin.

10% yearly profit doing almost nothing, no mining, not elecricity cost for you miner ... no more bills, just get your ETH ready & load your node & get the easiset ETH you'll ever have is most probably on of the biggest dream of old ETH holders.

The demand on Etherum will differently make it more  valuable for the next coming months.

Source: https://blog.ethereum.org/2020/07/27/eth2-validator-launchpad/

I think a lot more clarity is needed about how ethereum's proof of stake model will actually work because in simple staking just holding the coins is enough and you receive the rewards back in same wallet where coins are held while in terms of running a node proper system is required with internet otherwise you need to run it on a cloud with vos service, i hope it will be simple staking and not some technical procedure so that everyone can participate.

[IvugeoEvolutionCoin]

I was so excited when I saw the update for ETH 2.0 public Medalla Testnet genesis launch. Some dope teams from Lighthouse, Prism, Teku, Nimbus, and Lodestar behind it. Also Quantstamp is not left out to ensure no loopholes with respect to security lags. I hope the actual PHASE 2 launch of ETH 2.0 worth the wait, everyone waiting to stake ETH.

[jerrison]

for those who can still afford to get 33 ethereum right now, i will advice you consider this offer a gold in disguise. it is more of a passive income over the years but then it will not appear as though one has such until the price appreciates and becomes just like bitcoin. The cost of acquiring ethereum will be much more when it comes to a later time after lunching.

[Miaallen]

The ETH 2 is a major landmark which is going to record a great success. This is now a worthy direction of which one can face or turn his or her investments to.

[joinfree]

That's so true, the switch to Proof of stake protocol is one big move for the Ethereum network to increase its scalability and adoption. Once that is done more decentralized applications should be able to get deployed on the network with very low fees. Moreover, we are going to have a network which is faster and less cheap in terms of transaction fees as compared to what we are experiencing currently.

[vvampire]

Really great to see eth developers working round the clock to make Eth 2.0 a reality as soon as possible, the real events will be mainnet launch and then full implementation of eth 2.0 with change of algorithm from pow to pos, really excited for a fully loaded year for ethereum and its hodlers.

if you put up the 33 ETH for a testnet Eth.2.0 Node....are you automatically in to run a node when it goes live? Curious.

Brad

It's 32 ETH

How it works is in the link to the ETH blog in the OP

[vvampire]

https://storage.googleapis.com/ethereum-hackmd/upload_431e6a8ec269404e3f89fec7133482b9.png

As You all know The Ethereum Foundation is making the biggest upgrade of it's Blockchain & how it's going to be run.
Ethereum 2 is about to take off their Testnet, probably August 4th if the minimum needed validators count of 16,384 are allocated.

For this reason etherum Foundation created  this  eth2 validator Launchpad:
https://medalla.launchpad.ethereum.org

The basics of Ethereum 2 is to migrate from Proof Of Work (PoX) to Proof Of Stake (PoS). this means it's time to ditch miners & sticking to PoS.

After locking the sum of 33 ETH, the node owner will have to generate & upload his public keys to the deposit smart contract to be verified.

How much will an Etherum 2 Validator Earn Doing This?
By running your staking node, you'll be able to earn a passive income in ETH of up to %10.3 on yearly basis.

Timeline and milestones: Eth2 will be released in several phases:
https://medalla.launchpad.ethereum.org/static/media/timeline_testnet_launch.fe6d64e7.svg

It's a long journey to achieve for Etherum 2 & this will make Etherum as we know right now skyrocket in price value & become one of the best Asset Of Value same as Bitcoin.

10% yearly profit doing almost nothing, no mining, not elecricity cost for you miner ... no more bills, just get your ETH ready & load your node & get the easiset ETH you'll ever have is most probably on of the biggest dream of old ETH holders.

The demand on Etherum will differently make it more  valuable for the next coming months.

Source: https://blog.ethereum.org/2020/07/27/eth2-validator-launchpad/

I think a lot more clarity is needed about how ethereum's proof of stake model will actually work because in simple staking just holding the coins is enough and you receive the rewards back in same wallet where coins are held while in terms of running a node proper system is required with internet otherwise you need to run it on a cloud with vos service, i hope it will be simple staking and not some technical procedure so that everyone can participate.

There will be no need to have redundant internet, etc.  If your up most of the time, you'll be fine

[omnipotence]

Really great to see eth developers working round the clock to make Eth 2.0 a reality as soon as possible, the real events will be mainnet launch and then full implementation of eth 2.0 with change of algorithm from pow to pos, really excited for a fully loaded year for ethereum and its hodlers.

if you put up the 33 ETH for a testnet Eth.2.0 Node....are you automatically in to run a node when it goes live? Curious.

Brad

It's 32 ETH

How it works is in the link to the ETH blog in the OP

Yes not 33, but 32
This was on the ETH ANN topic, pretty interesting....

[contraband]

Really great to see eth developers working round the clock to make Eth 2.0 a reality as soon as possible, the real events will be mainnet launch and then full implementation of eth 2.0 with change of algorithm from pow to pos, really excited for a fully loaded year for ethereum and its hodlers.

if you put up the 33 ETH for a testnet Eth.2.0 Node....are you automatically in to run a node when it goes live? Curious.

Brad

It's 32 ETH

How it works is in the link to the ETH blog in the OP

Yes not 33, but 32
This was on the ETH ANN topic, pretty interesting....

Here below is the Legend from the the graphic, explaining what the numbers do. Kinda need this with it
@omnipotence😉lol

Also,  some other good points from @zasad

The price can rise for several common reasons:

1. Increase in demand for a coin
2. Reduction in the number of coins in circulation


"1.Ethereum 2 phase 0;
2.EIP-1559;
3.The end of mining; and
4.Ethereum 2 phase 2."

https://www.attestant.io/posts/charting-ethereum-issuance/

And after phase 2 we can see 1 and 2 reason, but it’s very difficult to say how long Phase 2 will start.

Correct on the 32, and yes great info on the graphic.

[bgaf]

Will staking only valid for those who run a node of 32 eth? I mean the 10% what if we hold eth less than that, are we eligble for rewards prorated to the eth we hold? Or its not gonna earned interest? Damn thats big profits but I hope that there is an option too for low holder and not only to those validators. Compiling 32 eth is really expensive now especially the price is continously increasing.

[vvampire]

Will staking only valid for those who run a node of 32 eth? I mean the 10% what if we hold eth less than that, are we eligble for rewards prorated to the eth we hold? Or its not gonna earned interest? Damn thats big profits but I hope that there is an option too for low holder and not only to those validators. Compiling 32 eth is really expensive now especially the price is continously increasing.

Yes, you must have 32 to stake
and Yes, getting 32 is a bitch

Somehow this news isn't traveling very fast.

I can foresee prices really getting silly as the news spreads over time.

Anything under 30k I would say is a deal, but not many have spare 30k lying  around  lol.

Only 13k for 32 right now, but if you don't have the whole 13k now, plan on it being more,  as the price will be going up drastically as we go

[contraband]

Will staking only valid for those who run a node of 32 eth? I mean the 10% what if we hold eth less than that, are we eligble for rewards prorated to the eth we hold? Or its not gonna earned interest? Damn thats big profits but I hope that there is an option too for low holder and not only to those validators. Compiling 32 eth is really expensive now especially the price is continously increasing.

Yes, you must have 32 to stake
and Yes, getting 32 is a bitch

Somehow this news isn't traveling very fast.

I can foresee prices really getting silly as the news spreads over time.

Anything under 30k I would say is a deal, but not many have spare 30k lying  around  lol.

Only 13k for 32 right now, but if you don't have the whole 13k now, plan on it being more,  as the price will be going up drastically as we go

Another good ETH 2 thread here

https://bitcointalk.org/index.php?topic=5263964.0

[CryptoCrawler_2017]

10% profit for 33 Ethereum is already a good profit if compared it to any banks in the world, this is the reason why people are so into Ethereum now in the market many wants to stake now that Ethereum is still cheap could not have the better time to buy Ethereum for the up and coming POS this is an event everyone in Crypto are looking forward.

10% passive income yearly is actually a killer in the crypto world, it's so hard if not impossible to find a good alt like Etherum giving you such yearly Staking income doing almost nothing.
With the main release of ETH 2 i'm sure we'll see ETH above 2k & why not even 3k for the next coming months, in the years 2021+.

[btc_angela]

10% profit for 33 Ethereum is already a good profit if compared it to any banks in the world, this is the reason why people are so into Ethereum now in the market many wants to stake now that Ethereum is still cheap could not have the better time to buy Ethereum for the up and coming POS this is an event everyone in Crypto are looking forward.

10% passive income yearly is actually a killer in the crypto world, it's so hard if not impossible to find a good alt like Etherum giving you such yearly Staking income doing almost nothing.
With the main release of ETH 2 i'm sure we'll see ETH above 2k & why not even 3k for the next coming months, in the years 2021+.

Of course, and that is why Ethereum is enjoying so much support right now. But I thought its only 32 ETH, anyways, only semantics maybe. Banks can't give that returns and only you can find in crypto that huge ROI, yes it's really a killer specially when Ethereum's price rose in the bull run. We also have to remember that it is still the choice for most projects still despite the many challenges from different main net.

[juiceannabel]

10% yearly profit doing almost nothing, no mining, not elecricity cost for you miner ... no more bills, just get your ETH ready & load your node & get the easiset ETH you'll ever have is most probably on of the biggest dream of old ETH holders.

Source: https://blog.ethereum.org/2020/07/27/eth2-validator-launchpad/

This way is more efficient than mining with asic or gpu device + electricity cost. But you need more money to buy the coin first.
What is the minimum amount to become a valid validator ? 33 ETH ?

[omnipotence]

10% yearly profit doing almost nothing, no mining, not elecricity cost for you miner ... no more bills, just get your ETH ready & load your node & get the easiset ETH you'll ever have is most probably on of the biggest dream of old ETH holders.

Source: https://blog.ethereum.org/2020/07/27/eth2-validator-launchpad/

This way is more efficient than mining with asic or gpu device + electricity cost. But you need more money to buy the coin first.
What is the minimum amount to become a valid validator ? 33 ETH ?

32 ETH to be a validator

[coin-investor]

32 Eth is such a huge amount to stake at the current price I love staking but it looks like my pocket cannot afford 32 Ethereum I'm pretty sure that the price will go to the moon once they finally released it so I will just hodl on to my Ethereum and wait for the price to go to the moon.

[PerfectCircle]

32ETH is way too much for many people, this will only be easy for whales in crypto space, I do hope that the POS coin amount can go lower for those who don't have much eth to be able to stake their coins too, what is vitalik thinking? So unfair

[bitcampaign]

a system like this has been running for a long time, where people can stake or mine just by locking in funds within the allotted time, 10% for 1 year seems attractive as well as preventing a big dump in the price value too, at least increasing faster, just waiting for ETH2 it really releases without delaying any more time

[bittick]

a system like this has been running for a long time, where people can stake or mine just by locking in funds within the allotted time, 10% for 1 year seems attractive as well as preventing a big dump in the price value too, at least increasing faster, just waiting for ETH2 it really releases without delaying any more time

that's more than enough for the stakers to get the annual yield from the network. No more delay but the update will have divided into the some stages, that means the full update will have done in the next year.