6 Things You Didn’t Know About Ethereum 2.0 – SaBi Exchange

0 56

Here are some things that you probably didn’t know about Ethereum 2.0

1. Your Private Key is online, but you can’t get hacked. When you deposit the required 32 ether to become a validator, you also send in the information about the exit account and exit shard. This means that whether you exit the system voluntarily or are kicked out, the money that belongs to you is sent to that specific account designated as a withdrawal address.

2. Ethereum 2 slots are 6 seconds in length, except when they aren’t. Genesis time and time in general in Ethereum 2.0 is expressed in UNIX timestamps, and these times are susceptible to leap seconds, some slots might be 5 seconds in length and some might be 7 seconds, despite being hardcoded to 6 seconds.

3. It needs 2 million deposited Ether to start. A validator would need to submit 32 ether to a deposit contract to join the staking system in Ethereum 2. What isn’t widely known is that 65536 validators will be needed for the new chain to start — roughly 2 million ether (65536 validators). That’s exactly 64 validators per planned shard in the system.

4. Not every slot has a block. Because slots are discreet units of time (~6 seconds per), it’s possible that some slots might not have blocks. That can happen when there was a disagreement between the validators.

5. You don’t need a supercomputer to run a validator. A standard laptop should be okay for up to 10 validators, with little investment, you can get an affordable system to run a validator.

6. There are two types of penalties for validators.

Slashing — if a validator behaves maliciously, then they are slashed by having their balance reduced. The minimum penalty is 1 ETH but goes up linearly in the number of people slashed at the same time as you.

Inactivity leaks —This only happens if your validator node goes offline for 18 days, and the beacon chain is not finalizing, then your balance will be reduced by up to 60.8% slash in 18 days.

You might also like
WhatsApp chat