The announcement explains that the users will be able to change their Ether into Beacon Ether (BETH) and receive staking rewards for securing the new blockchain.
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ETH 2.0 to launch on Dec. 1 as deposit contract milestone reached
The Phase 0 beacon chain of the ambitious upgrade will make its long-delayed debut next week. But it’s going to be a challenging couple of years for Ethereum developers
A minimum of 524,288 ETH (worth $316 million at the time of writing) needed to be staked, locking it up into the contract for the ETH 2.0 upgrade to commence.
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Bison Trails tries to ‘de-risk’ staking with double-signing protection software
In what is described as an industry first, the company wants to minimize penalties for customers running a node on a proof-of-stake network
The technology “addresses one of the most unaddressed problems” in the industry: slashing penalties costing a validator part of their stake if a message is double-signed for the same block.
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Bison Trails Co-founder Aaron Henshaw (l.) says with millions of users and tens of thousands of DApps, ETH's upgrade might not be easy (Photo: Bison Trails)Bison Trails rolls out support for Ethereum 2.0
Platform co-founder Aaron Henshaw said he believes the first iteration of ETH 2.0 will launch this year, as Vitalik Buterin’s blockchain moves from proof-of-work to proof-of-stake
ETH 2.0 will see the network transition from an energy-draining, expensive proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS). This will effectively make miners obsolete, as blocks will instead be verified by validators who stake 32 ETH in order to run a node.
