• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
ethereum 2.0 validators
Advertisement

Ethereum 2.0 Testnet Attracts 22,000 Validators

Christine Vasileva by Christine Vasileva
3 years ago
in Ethereum, Altcoins, News, News teaser
0
Advertisement
Advertisement

One of the broadest testnets for Ethereum 2.0 is advancing, already attracting 22,000 validators. The shift to proof-of-stake is still left for the future, but there are signs of incipient and growing interest.


Largest Testnet for Ethereum 2.0 Starts Attracting Stakers

Ethereum (ETH) has not moved as fast from mining to staking as previously promised. Instead, the network has taken a series of smaller steps. At the same time, entities interested in the ETH economics have tried to remain a step ahead, by testing the staking mechanisms offered.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Prysmatic Labs has launched one of the largest testnets, outpacing single-client tests. The testnet launched this January 9, and immediately saw a pickup in reported validators.

“Just saw nearly 100% participation from over 22k active validators on the world’s first boneless ETH2 testnet,” said Preston van Loon, a developer at Prysmatic, cited by Trustnodes.

“These are 22k validating keys. It’s probably between 5 to 10 individual operators. Maybe more, but it’s hard to tell who controls keys and who’s just an observer,” he said.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

According to Raul Jordan, Prysmatic has launched the largest testnet so far, encouraging for the future of the second-largest crypto network.

I just published Eth 2.0 Dev Update #42 — ‘Mainnet-Capable Testnet + Now Hiring!’ https://t.co/6lFOIlwcjd @prylabs #Ethereum, largest eth2 public testnet been live for 4 days

— Raul Jordan (@raulitojordan) January 13, 2020

At the testnet level, Prysmatic has called for hackers to try and exploit the network. Moving to Ethereum 2.0 on an actual live network will be a high-stakes event, affecting a wide ecosystem of games, finance, and exchange apps.

But the exact number of participants is in fact lower. This shows that moving to staking, Ethereum supporters may be quite a few at the beginning. The move to staking will displace the already well-developed mining ecosystem for Ethash rigs.

Staking May Lock Up 10M ETH

Based on rough estimates by Vitalik Buterin, moving to a staking model may lock up around 10 million ETH. Annualized inflation will increase slightly for ETH, and the annualized interest rate maybe around 6%. Still, the network will have to find a sweet spot for the number of stakers.

The ETH rewards for staking will be variable, and the more ETH is staked, the fewer rewards will be proportionately distributed. This approach should discourage large-scale “whales” to take away most of the rewards while being overly influential.

Ethereum 2.0 has been announced over a year ago, and based on the most optimistic predictions, a launch may arrive within six months. However, skeptics allow for more delays. Despite the interest in testing the staking mechanism, there are still doubts miners may end up working on an alternative blockchain, posing special dangers for decentralized finance apps, which hinge their token value on a stable, reliable Ethereum network.

ETH traded at $169.73 after the most recent price recovery, getting close to its pre-crash level of stability around $180.

What do you think about the shift to Ethereum 2.0? Share your thoughts in the comments section below!


Images via Shutterstock, Twitter: @raulitojordan

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Christine Vasileva

Christine Vasileva

Christine Vasileva is a financial news and business writer, tracking the latest developments in fintech and the effect of blockchain and crypto-assets on global business and finance.

Related Posts

Ethereum

Ethereum Supply On Exchanges Has Plunged To New All-Time Lows

1 day ago
Nasdaq

Nasdaq Targets Mid-2023 For Crypto Custody Launch

5 days ago
Crypto.Com Became The10th Largest BONE Holder

Crypto.Com Became The10th Largest BONE Holder

7 days ago
Ethereum

Why Ethereum Could See Further Rise After Bitcoin Rally Ends

1 week ago
Ethereum

Ethereum Fee Remains Low Despite Price Rise, Here’s What It Means

1 week ago
Ethereum

Ethereum Price Plummets As Whale Transfers $33 Million ETH To Binance

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Trending Projects

  • 5 Best Upcoming ICO List of March 2023

    1 week ago
  • Crypto Investment for Long term: 3 Coins to keep your eye...

    1 week ago
  • Cryptocurrency to invest in March 2023

    1 week ago

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Latest ARB News: Avorak Shows Cross-Chain Intent With Space...

    1 hour ago
  • Love Hate Inu Raises $2 Million for Innovative Vote-to-Earn...

    3 hours ago
  • Crypto Headlines: Arbitrum (ARB) finds a tough Competition...

    6 hours ago
  • Want To Win Big? Experts Suggest To Choose TMS Network...

    8 hours ago
  • TMS Network (TMSN) AI Infrastructure Will Give You 100x...

    8 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.