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[Update] Ethereum 2.0 countdown, pledge volume changes daily

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At present, the guarantee rate has reached 10.1%, and at least 471295 ETH are needed to start from the main network.

Recently, with the release of ethereum 2.0 deposit contract, user enthusiasm for Ethereum has begun to grow. Ethereum 2.0's Beacon Chain is scheduled to start on December 1, with a minimum of 524288ETH (16,384 verifiers) to start the storage contract.

As of 14:30 on 11 November, 52,993 ETH had been pledged by Ethereum 2.0 deposit contracts, an increase of 2,592 from the previous day. At present, the guarantee rate has reached 10.1%, and at least 471295 ETH are needed to start from the main network. It is reported that when the minimum pledge requirement (5244,288 ETH) is met, the pledge reward can reach 21.6% on an annual basis. When the pledged ETH amounted to 10 million, the pledged reward was 4.9% per year.

Minimum requirements for participating in pledge

There are three minimum requirements for participating in pledge:

1. At least 32 ETH;

2. Computers that meet hardware specifications;

3. Network links.

For detailed operation, please refer to"How do ordinary people run Ethereum 2.0 nodes from home"

Participating in pledge proceeds

To motivate people who own the ETH to participate in the network as validators, validators will be rewarded for performing their duties. Every six minutes, the verifier receives a task and is rewarded for completing it. The reward will be based on the network total pledge to carry out a certain proportion of changes. If the total pledge has a low ETH, the return received by each verifier will increase, and vice versa.

The current suggested data from Ethhub.io is:

This contradicted ethereum.org, which found that when the minimum pledge requirement (5244,288 ETH) was met, the pledge reward would be an annualized 21.6%.

Participate in the cost and risk of pledge

Calculate the cost

The user needs to run at least one validator client, and possibly a beacon node, which creates a need for computational resources;

Beacon node: Phase 0 can run on a Raspberry PI 4 device, but Phase 1 May require more powerful hardware;

Validator client: A client can run thousands of validators;

The total cost of the beacon node and the validator client is estimated at about $120 a year.

The cost of capital

Participating in the pledge requires at least 32 ETH pieces (about $14,240, or 94,000 yuan). Until stage 1, the 32 ETH pieces are locked to the beacon chain and cannot be extracted (verification can be stopped).

Uptime and maintenance costs

- If the user is online more than 50% of the time (assuming normal network conditions), the net revenue can be maintained. However, if you cannot commit in some way to extending uptime, you should not risk participating in the pledge.

- If more than 1/3 of the network is offline at one time and the situation lasts for more than 4 eras (25 minutes), all offline verifiers will suffer the ultimate leakage penalty.

Risk of code

There may be network-wide code risks at this point, but these code bugs will be resolved by hard forks.

Security risks

In addition to failures in the client code, the user also needs to ensure a secure environment for the verifier client (Internet connection, operating system, hardware, etc.). If its verifier client is hacked due to a security failure, resulting in forced shutdown or improper behavior, the money will not be recovered.