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TECHNOLOGY

Ethereum 2.0 validator testnet is live, says ETH Research Team


According to Ethereum foundation’s official blog, Ethereum 2.0 validator launchpad testnet version officially went live on 27th July 2020.

The development and research with regard to Ethereum 2.0 network have been ongoing for many months now and alongside Consensys and DeepWork Studio, the eth2 research team revealed that validators would be able to keep track and make deposits for the upcoming Medalla multi-client testnet. The post read,

“The idea behind the launchpad is to make the process of becoming an eth2 validator as easy as possible, without compromising on security and education.”

The blog added that in addition to the process of becoming a verified validator on ETH 2.0, users would need to take responsibility for their own keys as well.

The objective of ETH 2.0 launchpad and Reward

The testnet launchpad would allow the validators to properly understand the security aspect of the new system without compromising on the education.

Source: Ethereum.org

In terms of rewards, the post revealed that the system would be dynamic rather than stationary or fixed. It said,

“In plain English, if the total amount of ETH staked is low, the annual reward is high, but as the total stake rises, the reward received by each validator starts to fall.”

For Ethereum, this could not have come at a better time as it may propel the largest digital altcoin to finally surpass its 2019 high of $335. At press time Ethereum was valued at $315 with a market cap of $35 billion.



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