The Much Awaited Ethereum 2.0 Staking Launchpad Is Live Now

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • The Ethereum developers on Monday, announced the launch of the Ethereum 2.0 Validator Launchpad.
  • The Ethereum research team had earlier declared that they have worked along with Consensys and DeepWork Studio to build the Launchpad.
  • As per the research team, the main notion behind the launch of the testnet version is to facilitate the ETH2.0 validators.

The Ethereum developers on Monday, announced the launch of the Ethereum 2.0 Validator Launchpad. This new testnet version would allow users to associate themselves with the new Proof of Stake (PoS) mechanism. The Ethereum research team, on their official blog, had declared that they have worked along with Consensys and DeepWork Studio to build the Launchpad. As per the research team, the main notion behind the launch of the testnet version is to facilitate the ETH2.0 validators. The Launchpad is expected to make the validation procedures easier and efficient without compromising on education or security. 

Providing Valuable Insights to the Ethereum Validators

Validators, as the name suggests, are responsible for the activities done throughout the network. These active participants play a major part in Ethereum transforming to Ethereum 2.0. The Launchpad hence is a stepping stone for the validators. With the testnet version, users can keep track of the much anticipated Medella multi-client testnet and most importantly, to make deposits for it. As of now, 217,376 GöETH has been staked. To launch the Medella testnet/Beacon chain, at least 524,288 GöETH and16384 validators are required. 

Staking Reward On Number of ETH Staked

The validators who help Ethereum (ETH) reach a greater unison, receive financial returns, which are generally known as ‘staking rewards.’ Although the rewards are not fixed, they largely depend on the amount of Ethereum staked in the network. They follow an inverse relationship, which means that the lower the amount of staked ETH, the higher will be the annual rewards. Similarly, the higher the amount of ETH, the lower will be the share of annual rewards.  

Best Time For Testnet Launch as Ethereum Price Crosses $300 Mark

Apart from joining a staking pool and qualifying as a validator, a new responsibility will be added for the users, i.e., managing their security keys. 

Moreover, if we consider the recent Ethereum market, the testnet is launched at the best time. The second-largest blockchain is rallying and is currently trading at $314.49. The daily trading volumes rose to approximately $13.11 billion, and the total market capital stands at $35.21 billion. The Launchpad marks an important goal for the Ethereum research team as it provides the stepping stone for the upcoming Beacon chain and ETH 2.0 mainnet launch.

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