The Number of Ethereum 2.0 Validators Exceeds 100,000. Is It Too Late to Join Now


Hong Kong, China -- (ReleaseWire) -- 02/24/2021 --As of February 23, 2021, Ethereum related data showed that the number of Ethereum 2.0 validators has exceeded 100,000, and the deposit contract address has received more than 3.2 million ETH (3,208,226), accounting for 2.8% of the ETH supply. In addition, the current Ethereum Gas Price has reached 400 Gwei. The high gas price also caused some platforms to postpone their plans, such as the synthetic asset platform Public Mint. According to the official news of the synthetic asset platform Public Mint, since the gas price of Ethereum will have a negative impact on participants participating in IDO, IDO was postponed in consultation with Plkastarter. Officials said that a new IDO timetable will be announced in the next 24 hours.

In the previous period, the price of Ethereum was also constantly breaking new highs. In January alone, it broke new highs many times. The price potential is self-evident. Although the entire market is currently in a downturn, as of the time of writing, according to the market data of the mainstream digital currency exchange, the price of Ethereum is slowly recovering. Ethereum is currently reported at $1938, a 24-hour increase of 3.35%.

Many people think of Ethereum 2.0 at this time. At present, Ethereum's pledge mining can be said to be a very popular way to obtain tokens. But the current staking rules of Ethereum 2.0 can be said to be very strict. If you don't pay attention, the tokens will be fined for some mistakes.

If the following problems occur during verification, the verifier will be fined:

1. The validator uses different roots in the same slot to propose two conflicting blocks. If such operations are not punished, then the verifier can easily create unnecessary forks or cause confusion. Note: Simply proposing the same block twice will not be fined;

2. The validator proves two conflicting blocks in the same slot. This is called double voting, and it also means that validators may try to create conflicting chain forks. Note: Simply voting for the same block twice will not be fined.

3. Votes cast by validators are "surrounded" or "surrounded" by previous votes. This means that validators try to vote against history, in which case they will be fined.

Of course, the above scenario is less likely to happen to honest investors, but you also need to pay attention to the following operational errors:

1. Don't run the same authentication key on two servers at the same time! This is the easiest way to get you confiscated. If your failover system falsely reports that the first node is down, you may find yourself in a situation of forfeiture.

2. You migrate the key to another computer or another Ethereum 2.0 client without migrating your confiscation protection history.

3. The confiscation protection history record is deleted or lost in the validator client. Or use a containerized environment without persistent volumes (PV) for verification. Both of these issues will cause the confiscation protection history to be erased or lost.

This also involves a problem.
There are too many drawbacks of Ethereum 2.0 mining, I have sorted it out:

1. The participation threshold is high, requiring 32 ETH.

2. Long lock-up period and uncertain liquidity.

3. The technical cost needs to be borne by the node itself, and the annual cost is about US$120.

4. Staking nodes need to be stable and active 24 hours a day, 7 days a week, otherwise there will be penalties and the income will be difficult to guarantee.

These are the inherent obstacles brought by the current Ethereum 2.0. In order to clear these obstacles, the exchanges have introduced different solutions. and QuickCash launched QETH, which successfully lowered these inherent thresholds. After the author's analysis, QETH has the following advantages: QETH liquidity is guaranteed. The user does not need to bear the technical cost. The participation threshold does not require 32 ETH as low as 0.1 ETH, and the nodes are maintained by the platform. The income is issued according to ETH2.0. Of course, in addition to QETH, also launched a one-click pledge of QETH, which is no different from ETH2.0.

It can be said that this is the current method of participating in Ethereum with the lowest threshold. In addition, I think investors should pay more attention to the dynamics of the exchange when they see new things, because the exchange will carefully study these rules to launch more suitable services and products for users.