Collin Myers, head of global product strategy at blockchain firm ConsenSys, reportedly claimed that in order to become a validator on the Ethereum 2.0, one is required to maintain a minimum amount of 32 Ether (ETH), which is worth $5,760 at press time. Myers revealed the news at a recent blockchain event Devcon 5, Coindesk reports Oct. 25.
Ethereum 2.0 validators can expect to earn from 4.6% to 10.3% as rewards for staking on an annual basis, a senior ConsenSys exec says.
32 ETH required to become a validator
Ethereum 2.0 is a major network upgrade on the Ethereum blockchain that is poised to shift its current Proof-of-Work consensus algorithm to Proof-of-Stake, passing block validation function from miners to special network validators. As previously agreed by Ethereum core developers, the first stage of the Ethereum’s transition to Ethereum 2.0 is expected to take place on Jan. 3, 2020.
ETH 2.0 Calculator
At the same event, Myers also revealed a tool allowing validators to calculate annual gross and net returns, taking into account hardware and energy costs. Dubbed ETH 2.0 Calculator, the new web application is planned for launch in conjunction with Ethereum 2.0, Myers noted. The calculator’s model is discussed in Telegram group ETH 2.0 Calculator.
Yesterday, Ethereum co-founder Vitalik Buterin expressed his stance towards the Google’s much-discussed quantum computing progress, which could allegedly impact Bitcoin and other crypto. In a tweet on Oct. 24, Buterin pointed out that recent quantum supremacy is as far from real quantum computing as hydrogen bombs are to nuclear fusion, explaining them as:
“Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things.”
Ether Price Will Hit $1,000 Again, Survey Says as Altcoin Faith Remains
Ether (ETH) is most likely to trade above $1,000 again in the future, according to the global cryptocurrency Twitter community.
54% say $1k Ether price possible
According to the results of a survey administered by An Altcoin Trader’s Handbook author Nik Patel on Aug. 10, 54% of respondents think ETH/BTC will see $1,000 once more.
Ether is the largest altcoin by market cap, but has seen its share of the crypto pie relative to Bitcoin decrease dramatically since its all-time highs in January 2018.
Having previously reached more than $1,400 per token, Ether currently trades at just $213.
As Cointelegraph reported, multiple analysts have sounded the alarm over altcoin markets in general in recent weeks, as Bitcoin continues to dominate rankings and investor returns.
Some believe altcoins will never again rally to the extent they did in previous years, meaning tokens such as Ether should notionally remain at the lower end of their historical trading corridor.
Don’t jinx it
According to Patel’s survey, however, most lay traders do not share that view. Out of more than 5,000 respondents, only 34% were willing to predict that ETH/BTC would never reach four digits.
The optimism may still be misplaced; one year ago, Fundstrat senior analyst Tom Lee made the ill-fated call that ETH/USD would rally to $1,900 by the end of 2018.
Developers are continuing to press on with major protocol changes as part of the Ethereum 2.0 project, with co-founder and well-known speaker Vitalik Buterin pledging to take a more hands-off approach in recent months.
Earlier this month, however, he implied he had no interest in seeing Ether usurp Bitcoin’s dominance, saying that he would support the coexistence of Bitcoin and Ethereum on a technological level.