The launch of the Ethereum 2.0 genesis block allows us to foresee the future?
At 20:00 last night, Ethereum 2.0 launched the genesis block, and phase 0 (beacon chain) was officially launched. It marks that Ethereum has started the transition from PoW to PoS, and a new era has begun.
It is also from this time that the beacon chain will provide staking rewards for early depositors. While the beacon chain will exist separately from the current ethereum mainnet, at some point eventually the two will merge.
Believe that this happened half a month ago, you would never believe that it would be so punctual, but all this has changed since then.
In the past two weeks or so, the number of Ethereum nodes has increased by more than 50%, surging from a peak of 8086 on November 15th, and on November 30th, the number of Ethereum nodes surpassed that of Bitcoin.
Let's look at another aspect. After going online, we can see that all digital currencies in the market have experienced varying degrees of decline. The "Bitcoin hitting $20,000" that people are concerned about is still not successful, but the distance from the target value has been pulled again. large distance.
Behind the milestone block production of Ethereum yesterday, what we need to know is that the number of active DAPPs on Ethereum currently ranks first in the entire network, and the number of nodes also exceeds that of Bitcoin. At present, the number of Ethereum 2.0 addresses pledged is close to 900,000.
As of November 24, a total of 22,001 independent account addresses have sent 704,032 ETH to the pledge contract, exceeding the minimum trigger condition of the beacon chain genesis block by 524,288.
After the block was produced, Eth2 clients such as Teku, Nimbus, Lighthouse, and Prysm also successively released updates before the creation of the mainnet, which means that everything has begun to move forward according to the predetermined track.
It is also at this time that users who pledge should start to pay attention to risk issues. According to the rules: In addition to being punished for being offline, the validator will also be punished for misbehavior, such as proving invalid or contradicting blocks; about every six and a half minutes is a period, and the network will measure each The behavior of the validator, and issue rewards or penalties appropriately, the most extreme punishment situation is that the validator may gradually lose up to 50% (16 ETH) of the stake within 21 days. After 21 days, it will be ejected from the validator pool.
In general, validators need to have an uptime of greater than 50% to generate profits, and these reward and punishment mechanisms have officially begun to be implemented.
In addition, at this stage, in the short term, ETH can only be transferred from the PoW chain pledge to the PoS chain, and the reverse operation cannot be completed. This also means that once participating in the pledge, users will not be able to redeem and use these ETHs again in a short period of time. How long this lock-up period will last depends mainly on the actual progress of Eth2. And after creation, Eth2 will only be able to add 900 verifiers per day.
We don’t know whether it will continue to double the number of pledges. According to market feedback, after the creation of the world, there was a short-term situation where the disadvantages outweighed the advantages. However, Layer 2 applications have already begun to exert their strength and have been lurking for a long time. It is finally about to usher in an outbreak. I believe that in the next few months, we will see unexpected surprises.
The evolution of Ethereum 2.0 is undoubtedly full of exploration and changes, and there is a high probability that the community will modify the roadmap later. But what is certain is that as the Ethereum ecology becomes a huge ecosystem and the entire blockchain system is initially formed, we can see the foreseeable future.
