Recently, the Ethereum network has been updated. The Ethereum 2.0 research group, in collaboration with ConenSys and DeepWork, launched a Launchpad for validators of the ETH 2.0 test network. Now anyone can join the blockchain network as a validator for educational purposes without compromising security.
What is the Medalla testnet?
Medalla is a platform for testing the updated Ethereum 2.0 network features. With its help, validators will participate in staking throughout all the main stages of ETH 2.0 development, receiving real rewards for voting and adding new blocks in GöETH tokens. The Medalla test network is created and maintained by Ethereum developers.
Currently, a set of validators is being passed to the test version of Eth 2.0 Medalla for Phase 0. New participants can join until August 4, after which the testnet will start running. The ETH 2.0 network needs16384 validators and deposits totaling at least 524,288 GöETH. This is necessary test liquidity based on the Ethereum Goerli test network and the GöETH facet token. Currently, more than 437 thousand GöETH tokens have been collected.
This network will be similar in functionality to the mainnet. This is necessary so that when the required number of validators is reached, the network is fully managed by the validators and the community. Developers will be able to check and evaluate how the real network will function in order to prepare people for a similar procedure for starting a network and staking for the mainnet. Now let’s talk about the key phases of the testnet.
Stage 0 – Beacon Chain
Beacon Chain will manage the Casper Protocol to monitor and track validators, balances, and Proof-of-Stake consensus. After the completion of the zero phase, the Ethereum network will “split” into two separate blockchains: ETH 1.0 and ETH 2.0. The first platform will remain the same and will run on the PoW algorithm. At the same time, participants will be able to transfer cryptocurrency from ETH 1.0 to ETH 2.0.
Stage 1 – Shard Chains
During the next phase, the sharding mechanism will be implemented. This is a key moment for the development of scalability of the updated blockchain network. There will be 64 segments deployed, each of which will process transactions, add and store data in parallel with each other. But this will only be a trial run. Segmentation will not be used for scaling during the first stage.
Stage 2 – State Execution
During Stage 2, the functionality tested in previous stages will be put together. At this stage, smart contracts will be re-introduced, and shards will manage the eWASM VM.
A new concept will also be introduced – execution environments (EEs). The execution environment can be configured at the discretion of the developers. Shards will have access to any execution environments that can interact with smart contracts.
Stage 3
This stage has not yet been defined and has no name. For now, Stage 3 is an additional stage for testing and development of Ethereum 2.0.
ETH 2.0 Rewards
The amount of rewards will depend on the number of coins staked: the more coins in the betting, the less the reward. The size of the APR starts at 21.6% as soon as the number of tokens staked is 524 288 GöETH, and then it will gradually decrease:
- 1 000 000 GöETH – 15,7%
- 2 000 000 GöETH – 11,1%
- 5 000 000 GöETH – 7%
- 10 000 000 GöETH – 4,9%
You can calculate the amount of remuneration on the official website of the Medalla launchpad.
Everstake is a member of the Medalla test network and is ready to take part in Stage 0 launch as a validator.
Everstake ETH 2.0 Testnet node 1
Everstake ETH 2.0 Testnet node 2
We are currently working to launch a few more nodes. This will allow you to participate in testing as well. You will need to get the Faucet
ETH 2.0 tokens and stake them for Everstake. This will help us test the economy and future rewards.
You can get Faucet ETH 2.0 tokens here
If you want to take part and keep abreast of all events, leave your contact information here
Stay tuned to our blog and the Everstake website.
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