So you want to be an ETH2 Validator?

in LeoFinance2 months ago

With the upcoming launch of ETH2 on 1st December, lets take a look at what it will take to become an ETH2 validator.

Validators are similar to Hive Witnesses and will validate transactions. It is presumed that validators will be on-premise or cloud based. The follow minimum specs are recommended for on-premise validators:

Recommended Specs:
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 space SSD
Internet: Broadband internet connection (10 Mbps)
Power: Uninterruptible power supply (UPS)

One of the big requirements to being an ETH2 validator is that you need 32 ETH to begin with. That's no small investment (currently $14,400) that is needed for the startup. A number of different options are available to make setting up your validator and staking your 32 ETH easier. Hence, opening up ETH2 validation to a wider crypto user base. Some basic coding knowledge is needed and there are some fairly simplified instructions out there for people wanting to setup their own validator.

This could end up centralising ETH more as 32 ETH is a significant investment for most minor crypto users. Ultimately, if you are serious then you will invest and get the funds together. I can already see that there are a few leofinance community members who are going to become validators. It will be interesting to watch their journey!

Thanks for reading.

Posted Using LeoFinance Beta