Ethereum 2.0 will be launched with at least 400,000 validation nodes on the network


Key facts:
  • In the past three months, the number of validators has increased by 25%.

  • Combined with advances in testnets, this contributes to the promotion of Ethereum 2.0.

Ethereum 2.0 continues to solidify its foundations before merging the Ethereum mainnet with this new release. In the coming days, it could reach 400,000 validators who will verify transactions and ensure the proper functioning of the blockchain.

At the time of writing this article, there are 396,465 validators who have deposited their Ether (ETH) into the smart contract of the Beacon Chain, the “signal chain,” or the original part of the new network. This means that 3,535 are missing to reach 400,000. With the growth rate in the last week, This achievement can be reached in the next two or three days.

Ethereum 2.0 reaches this significant number 18 months from contract creation for ETH staking, through which the user acquires the right to be an auditor on the network. In fact, 100,000 validators were added in three months, considering that the network reached 300,000 in February 2022, CriptoNoticias reported.

Statistics on the current status of the network, which can be consulted on the beaconcha.in website, It also indicates that the amount of ETH deposited is 1,2686,773. It should be noted that all deposits must remain at least even after the merge, as they are locked into the smart contract until this event occurs.

Moreover, it is important to note that the final figure includes both those deposited by independent nodes and those in staking pools, which allow many people to combine their resources to collaborate with the maintenance of Ethereum 2.0 and receive rewards for it.

Endorsements on Ethereum 2.0 increased by 25% in number in just three months. Source: beaconcha.in.

After the merger with the new series that the developers expected for the second half of the year, Ethereum will live with proof of stake (Proof of Stake or PoS) instead of Proof of Work (Proof of Work or Proof of Work).

This means that new transactions and coins will not be mined excavators From graphic panels as before, but with designated auditors who will put their money as collateral for the transactions they agree to. If they do not act honestly, the auditors will be penalized and lose their money.

Why do you have to deposit ETH to be a validator?

The Ethereum Foundation, which brings together the main developers of the network, notes in its blog that the role of a validator is essential. Those, as residents of the new blocks in the network, are incentivized to act honestly so as not to lose their money on the bet.

As detailed in recent editions of this newspaper, Amount 32 ETH It was set arbitrarily by web developers. With this amount, which is equivalent to $62,859 at the conclusion of this note according to the CriptoNoticias Price Index, the formula that determines the number of validation nodes allowed is regulated. This, in turn, maintains network efficiency by reducing the information that is transferred between them.

Prior to January 2022, ETH restricted to Ethereum 2.0 was under 10 million. Source: beaconcha.in.

Testnets are moving towards integration

With the number of validators growing, Ethereum 2.0 developers are ‘doing their homework’ and Continuing to practice at all stages and conditions of integration into test networks.

without going any further, Ethereum 2.0 has already been launched on the Ropsten Test Network. Days before that, this same testnet suffered an involuntary downtime due to increased hashrate and no beacon chain in it.

Despite all these developments, the developers decided to postpone the hard bombshell on the Ethereum mainnet for at least two months. It will be this stage of the process that will bring a definitive end to mining, a scenario that is getting closer and closer and making the miners in this network look for alternatives between selling their equipment or migrating to another digital currency.

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