Ethereum 2.0 validators can expect to earn from 4.6% to 10.3% as rewards for staking on an annual basis, a senior ConsenSys exec says.32 ETH required to become a validator.
Collin Myers, head of global product strategy at blockchain firm ConsenSys, reportedly claimed that in order to become a validator on the Ethereum 2.0, one is required to maintain a minimum amount of 32 Ether, which is worth $5,760 at press time.
Myers revealed the news at a recent blockchain event Devcon 5, Coindesk reports Oct. 25.
Ethereum 2.0 is a major network upgrade on the Ethereum blockchain that is poised to shift its current Proof-of-Work consensus algorithm to Proof-of-Stake, passing block validation function from miners to special network validators.
As previously agreed by Ethereum core developers, the first stage of the Ethereum's transition to Ethereum 2.0 is expected to take place on Jan. 3, 2020.ETH 2.0 Calculator.
At the same event, Myers also revealed a tool allowing validators to calculate annual gross and net returns, taking into account hardware and energy costs.
Dubbed ETH 2.0 Calculator, the new web application is planned for launch in conjunction with Ethereum 2.0, Myers noted.
The calculator's model is discussed in Telegram group ETH 2.0 Calculator.
Yesterday, Ethereum co-founder Vitalik Buterin expressed his stance towards the Google's much-discussed quantum computing progress, which could allegedly impact Bitcoin and other crypto.
"Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things."
Ethereum 2.0 Validators to Earn up to 10% Annually for Staking: Report
Published on Oct 25, 2019
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.