ETH2.0 is "on the verge of taking off", what you should know in advance before you think it can take off
Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc), Author: Five Fireball Leader, reprinted by Odaily with authorization.
Editor's Note: This article comes from
Vernacular Blockchain (ID: hellobtc)
Vernacular Blockchain (ID: hellobtc)
, Author: Five Fireball Leader, reprinted by Odaily with authorization.
To talk about the major events in the circle these two days, apart from the fact that various groups are crazy about worrying about the richest people in the country and the most powerful people in the world, the most interesting thing is the ETH2.0 deposit contract address that was just launched yesterday ! (Warning: Do not charge ETH directly to this address, this is not how Staking is used!!!)
According to the document released by Github, Ethereum 2.0 will be officially released on December 1, and the creation time is scheduled for January 3, 2021, which is the 12th anniversary of the birth of the Bitcoin network.
Of course, there is a very important prerequisite for the release of 2.0 - the staking address released yesterday must lock enough ETH. What is the required number of ETH? 524,288, in other words, we have to find 200 million US dollars ETH owners come here to lock their positions, and this 2.0 can be officially launched.
In the next month, you will definitely see this number continue to grow. As for how much it will eventually reach, only God knows. Regardless of whether you plan to participate in this "biggest Staking feast in the history of the industry", I think you should at least understand the following information.beacon chainsecondary title
Phase 0: A journey of a thousand miles begins with a single step
Phase 0 of ETH, which means
beacon chain
going online.
Phase 0, or the beacon chain, is very important in ETH2.0, but it may not be as important as you think.To put it simply, many veterans think that ETH2.0 will be launched, ETH will be awesome, the speed and performance will be improved, DeFi will not be blocked, and the blockchain will be able to enter thousands of households... I think There are too many, and it has nothing to do with these. The TPS of Ethereum will still be 15. It should be slow, it should be blocked, and everything will be as usual.So what is the significance of the launch of the beacon chain? The most important thing is the Staking gateway released yesterday, which means that the "PoS mining" of ETH is about to start.
Regarding the beacon chain and phase 0, there have been detailed discussions in the vernacular before, and interested veterans can go back to "
ETH2.0 is progressing smoothly: Ethereum goes further and further, but the "Ethereum killers" are silent
", this article will not elaborate too much.
A journey of a thousand miles begins with a single step, the opening of ETH2.0, phase 0 and the beacon chain are milestone events.
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Impact on ETH
The impact on ETH is mainly the impact on mining and price, which can be viewed from three aspects: PoW miners, PoS miners, and ETH itself.
PoW miners: Since the DAG file containing the encrypted information of all blocks will exceed 4G in December this year, it also means that all 4G memory card mining machines will be eliminated next month. For miners with VRAM >= 8G, they can theoretically enjoy the increase in income after a period of time when the computing power of the entire network decreases.
Of course, in the end, ETH will completely transition from the PoW+PoS stage to PoS, and all PoW miners will be "laid off" at that time, but at this point in time, no one is sure, but there is a high probability that they will not be seen within 2 or 3 years The day is coming.
PoS miners: All validators who stake 32ETH can be counted as "PoS miners" of ETH. To meet the pledge requirement of 520,000 ETH, 16,000 "PoS" miners are required to participate.
What is the current number of addresses with more than 32 ETH on the ETH network - 130,000.
The number far exceeds the pledge requirement. Regarding this issue, we will talk about it later when we talk about Staking.
From the perspective of income, the income graph of PoS is as follows:
When the entire network reaches 520,000 ETH pledges, what is the annualized income of these miners? 21.6%!
For those who are optimistic about Ethereum for a long time, this is definitely a considerable annual income, because in addition to the 21.6% increase in the number of ETH in your hands, the increase in the price of ETH has also declined.
ETH price: From the perspective of supply and demand, because there will be a large amount of ETH locked in Staking, theoretically, there should be a large amount of ETH purchase demand on the demand side. And because the staking of ETH2.0 is a one-way ticket that can only be entered and cannot be withdrawn, it is impossible to withdraw the ETH of staking within 2 years, so the supply side should reduce a lot of selling pressure.
It seems that it should have a great boost to the price of ETH, but if you study carefully, it may not be so optimistic.
The reasons are as follows. On the demand side, ETH has a large number of "believers", that is, the coin-holding party. The data for the middle of this year - of the ETH not locked in the smart contract, 77.7% have not been transferred for six months, 57.6% have not been transferred for a year, and 31.6% have not been transferred for two full years. It is conceivable that these people will definitely be the main force of staking, and the ETH in their hands has already been stored, so the demand for ETH purchases in the market may not be that great.
On the supply side, although the ETH entering into staking cannot form selling pressure on the spot market, with the various staking methods introduced next, many of the pledged ETH will continue to circulate in the market in the form of income bonds, so the real The "locked amount" of the exchange is actually much less than you think.
Operating system: 64-bit Linux, Mac OS X, Windows;
Operating system: 64-bit Linux, Mac OS X, Windows;
Processor: Intel Core i7-4770 or AMD FX-8310 (or better);
Memory: 8GB RAM;
Storage: 100GB available solid-state drive (SSD);
Internet: broadband network (10 Mbps);
Memory: 8GB RAM;
You have to know how to install and run ETH1.0 nodes, know how to install and run ETH2.0 nodes, master keys, mnemonics, compilers, etc., and you have to make sure your nodes are always online, because if you continue to There will be a deposit penalty for being offline.
Storage: 100GB available solid-state drive (SSD);
Internet: broadband network (10 Mbps);
Power: Uninterruptible Supply (UPS).
You have to know how to install and run ETH1.0 nodes, know how to install and run ETH2.0 nodes, master keys, mnemonics, compilers, etc., and you have to make sure your nodes are always online, because if you continue to There will be a deposit penalty for being offline.
Of course, the most important thing is that you have to have 32 ETH.
2. The most worry-free: trading platform
I remember reading an interview with the person in charge of Huobi Mining Pool, saying that “Huobi will launch ETH2.0 related products and services as soon as possible”.
It is conceivable that the first- and second-tier trading platforms with technical strength will definitely focus on this business. After all, imagine, assuming that 30 million ETH will be pledged by then, according to the curve, the annual rate will be around 3.3%. 1 million ETH per year, based on the current price of 400 US dollars, is 400 million US dollars. Assuming that most of the staking is through third-party service providers such as trading platforms, and the trading platform charges 25% of the service fee, that year’s profit will be close to 100 million US dollars, which is not a small piece of cake. I believe the trading platform will not let it go Pass.
The reason why the trading platform is worry-free is that most players are accustomed to using CEX. Another important factor is the ETH2.0 Staking service of the trading platform. There is a high probability that you do not need to have 32 ETH. Anyway, it is CEX, and the trading platform can help you "Collection order", the income can be distributed in proportion.
Wallet: I believe that many wallets will provide staking services similar to trading platforms. Staking with wallets is like trading with DEXs such as Uniswap. The private key is still in your own hands, so it is more "blockchain".
written in the last words
Third parties: For example, the Codefi platform of Consensys has clearly released a page that supports Eth2.0 staking, but it is not yet online. When the time comes, you can directly participate with your own wallet on the website.
Staking project: At present, led by Ankr, BLOX, and Rocket Protocol, they all provide non-custodial "one-click staking" methods, and all provide "single pool" services to satisfy users who do not have enough 32ETH. For example, Ankr and Rocket Protocol will also provide bonded ETH to ensure that the pledged ETH can still be circulated in the market, which also eliminates the fear of most players about the loss of liquidity of the pledge.
secondary title
written in the last words
There is no doubt that in the next 10 years, blockchain, as the infrastructure of Web3.0, will definitely play an increasingly important role.
BTC has gone farther and farther on the road of digital gold, and it is impossible to become the underlying public chain supporting Web3.0. This important task has been handed over to public chains like ETH.Web3.0Who will take on this important task then? Aside from the current huge first-mover advantage of ETH, the difference in the following core concepts may be the winner at that time, that is, whether the public chain as a Web3.0 infrastructure can run on the Raspberry Pi (simple household or is a microcomputer).
