Ethereum 2.0 (eth2) is on the way to final launching and development teams are trying their best for the next milestone in the long-awaited blockchain project. Launching testnets and looking for feedback from developers is one of the essential steps before the final release in most of the blockchain projects.
The Ethereum Foundation is taking that step now before launching the ultimate eth2 network and today announced a validator launchpad leading up to the roll-out of the Medella multi-client testnet. The new launchpad maintained by the eth2 research team with the partnership from Consensys and DeepWork Studio is now ready for those interested in becoming an eth2 validator.
Validators not only have the chance to manage their keys in the eth2 blockchain, but they will have the opportunity to learn more about the network and also earn rewards. They are fundamental components of the eth2 Proof-of-Stake (PoS) algorithm, and it seems many users are interested in becoming one.
Since lots of regular users may have the interest to become validators and participate in the management processes of the next Ethereum network, the Ethereum Foundation believes that the educational materials attached to the new validator launchpad will allow anyone to learn the fundamentals of running a validator node on Eth2.
Also worthy of mention is that validators can’t withdraw their staked ETH for a considerable time, a move that is designed to select only active and long-time loyal validators for eth2.
Users have to choose a client after depositing their staking ETH in the launchpad address. There are four clients ready right now, Prysm, Nimbus, Lighthouse, and Teku that provide the software for setting up Beacon node, importing key stores, and running the validator.
More than 150,00 ETH has already been sent to the Eth2 launchpad deposit contract at the time of writing. It means people are depositing their ETH to have a chance and become a validator – although currently in the testnet.
Ethereum 2.0 is undoubtedly one of the most significant ongoing projects in the blockchain industry. The next phases of development are eth2 phase 0 launch, eth2 phase 1 launch, and eth2 phase 2 launch that will lead to the final mainnet.
The new PoS network will have a significant impact on the overall Ethereum network and inevitably will affect the DeFi industry, which is already proving to be the most exciting blockchain concept of 2020.