Ethereum 2.0 Validators to Earn up to 10% Annually for Staking: Report
In order to become a validator on the Ethereum 2.0, one is required to maintain 32 Ether, worth of $5,300 at publishing time.
Ethereum 2.0 validators can expect to earn from 4.6% to 10.3% as rewards for staking on an annual basis, a senior ConsenSys exec says.
32 ETH required to become a validator
Collin Myers, head of global product strategy at blockchain firm ConsenSys, reportedly claimed that in order to become a validator on the Ethereum 2.0, one is required to maintain a minimum amount of 32 Ether (ETH), which is worth $5,760 at press time. Myers revealed the news at a recent blockchain event Devcon 5, Coindesk reports Oct. 25.
Ethereum 2.0 is a major network upgrade on the Ethereum blockchain that is poised to shift its current Proof-of-Work consensus algorithm to Proof-of-Stake, passing block validation function from miners to special network validators. As previously agreed by Ethereum core developers, the first stage of the Ethereum’s transition to Ethereum 2.0 is expected to take place on Jan. 3, 2020.
ETH 2.0 Calculator
At the same event, Myers also revealed a tool allowing validators to calculate annual gross and net returns, taking into account hardware and energy costs. Dubbed ETH 2.0 Calculator, the new web application is planned for launch in conjunction with Ethereum 2.0, Myers noted. The calculator’s model is discussed in Telegram group ETH 2.0 Calculator.
Yesterday, Ethereum co-founder Vitalik Buterin expressed his stance towards the Google’s much-discussed quantum computing progress, which could allegedly impact Bitcoin (BTC) and other crypto. In a tweet on Oct. 24, Buterin pointed out that recent quantum supremacy is as far from real quantum computing as hydrogen bombs are to nuclear fusion, explaining them as:
“Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things.”