Ethereum (ETH) 2.0 'Closest to the Final' Specifications of v0.12 Released: Here's What New

News
Fri, 05/22/2020 - 14:03
article image
Vladislav Sopov
Slowly but surely, Ethereum (ETH) 2.0 is chugging towards its mainnet release. While the multi-client testnet is live, devs have released new specifications for Phase 0
Ethereum (ETH) 2.0 'Closest to the Final' Specifications of v0.12 Released: Here's What New
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

Ethereum Cat Herders project manager Edson Ayllon announced that Ethereum (ETH) 2.0 devs have delivered specifications for Phase 0, which are very close to the final landscape of the network.

ETH2 design is arriving

According to the Ethereum (ETH) contributor, the new specifications closely resemble the specs of the real Phase 0 or Beacon Chain of Ethereum 2.0.

These estimations can be seen as valid unless critical security flaws are found by the community.

The new release, named 'Quarantine Haircut', includes all v0.11 'testnet learnings'. It has updated BLS signatures specifications and advances the mechanism of rewards and penalties in the testnet environment.

To prevent an unintended split, the FFG-LMD fork choice scheme now checks vote consistency. Developers also re-organized the validation process to avoid data transfer from ETH1 to Serenity epoch.

Sharding and clients

The official release announcement in the project GitHub repository highlights that client teams looking to prototype Phase 1 should first focus on shard data mechanics while stubbing out custody game logic.

The mechanism of the Custody Game will be reintroduced when the shard chain design stabilizes.

Also, the new Light Client can be used for educational purposes but will be reorganized for the Phase 1 launch.

Ethereum (ETH) 2.0 is a Proof-of-Work version of the Ethereum (ETH) blockchain, in which mining will be replaced by staking and the single-chain organization will be abandoned in favor of sharding.

article image
About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

thecryptobuds

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
article image
Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

article image
About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

thecryptobuds