The Currency Analytics
By Ayobami Abiola
Ethereum blockchain in collaboration with Consensys and DeepWork Studio today, July 27th, announced its Eth2 Validator Testnet version to give the community a feel of what the…
Instead of miners that do complex calculations in a proof of work consensus algorithm, the proof of stake consensus allows validators to stake coins to secure the blockchain,…
According to the announcement, Ethereum is launching a in-house validator in contrast to a third-party service to give the users the total control and security of their accounts…
“The first mission of the launchpad is to help validators educate themselves about all aspects of the process.
This will help validators understand that their security is in their own hands. ETH2 is set to operate as a separate chain while Eth1 which runs a Proof of Work consensus still…
The validator rewards are set to be dynamic, according to the announcement:
“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.”
Validators must understand that their staked coins can be slashed if they behave maliciously.