150,000 ETH Sent to the Ethereum 2.0 Testnet Deposit Contract
July 27, 2020 1:17 pm
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Ethereum developers have just announced the ethereum 2.0 staking launchpad through which individuals participate in the testnet Proof of Stake (PoS) network.
“After months of hard work from the eth2 research team, along with Consensys and DeepWork Studio, we’re happy to announce the release of the eth2 validator launchpad (testnet version),” the Ethereum 2.0 Research team said.
About 150,000 testnet eth has already been deposited to the contract with it now waiting for the testnet launch this August 4th.
As you can see there’s a tutorial to go through the staking process with it requiring agreement to a number of statements, including:
“Transfers between validators are disabled until at least phase 1. Validators will have to wait until phase 2 (around two years) to be able to withdraw to a specific shard…
With transfers disabled until at least phase 1, there’s no way for a validator to voluntarily exit and then restart later. This means validators need to be in it for the long haul…
In order to become a validator, you will generate your new eth2 key pairs. To do this and to install the validator software you need to be technically capable of running commands in a terminal on a computer.”
We’re not gone go through the rest as we’ll wait for the testnet to launch first and then see the whole process, but it all seems pretty straight forward.
For individuals who don’t know how to code at all, they might find it a bit difficult to git clone and venv on python, but python is a great language and for those familiar with HTML, getting these very basic steps should be doable.
There’s of course also staking service providers, COINBASE probably, Bitcoin Suisse, plenty of others to the point of maybe everyone really.
So whether you know very basic code which you just copy paste, or not, all can still participate and fully, just not as a solo staker.
Here on testnet however it is fake eth, so you’re free to mess about as if you lose the testnet eth, the it doesn’t matter.
Through that process thus all have about three months to get very familiar with how you stake for the real thing which is expected to launch in November.
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