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[jarvis-eth]

How to lay out Ethereum 2.0 Staking?

Ethereum 2.0 is a major event closely watched by the industry.  Ethereum has one of the most important and prosperous ecological networks in the industry. However, ethereum's low performance cannot meet a large number of usage demands. Numerous developers and users are expecting Ethereum 2.0.

Ethereum 2.0 Staking will take a lot more time to be fully usable, and Ethereum 2.0 Staking systems will come online first.  Ethereum 2.0 Staking is also closely watched, based on its second-largest market capitalisation and huge user base.

Ethereum 2.0 Staking is different from what is usual today.  A typical Staking model is no more than 100 nodes, for which the average user needs to vote.  Ethereum 2.0 is different in that each node needs to be Staking 32 ETH otherwise. More tokens yield no extra revenue, so an Ethereum 2.0 system will have lots of nodes. A mass of nodes is the biggest difference between Ethereum 2.0 and any other Staking system.

With about 110 million ETH in circulation today, there would be about 50 million ETH Staking, based on an industry average collateral rate of 50%. With 32 ETH Staking per node, there would be about 1.56 million nodes being created next week.

But for ordinary users, it is not realistic to build nodes by themselves, so there will be an important participant -- node service providers. At present, many institutions, exchanges and project parties are actively laying out this business.

Generally, the better Staking is, the higher the ratio, and in ETH's case, achieving a 70% stake is not difficult.  Of course, because Ethereum 2.0 is far from mature, early-stage Staking cannot be taken out, and that affects the Staking rate.

ETH is worth $38 billion today. At 50% Staking, there would be $19 billion of ETH Staking.  At 15% annualized returns, Staking is worth about $2.85 billion a year, or $570 million a year for a nodenier, assuming 20% commission. Note that this is consistent revenue.

Ethereum 2.0 Staking is a great piece of cake!

But to the average user, the cake that institutions, exchanges, get is irrelevant. Something else, dedicated to providing user Staking, might be Staking.

Here's a quick look at the DAppNode project

What is a DAppNode?

DAppNode is an operating system that allows you to host DApps in a truly decentralized manner, eliminating third-party dependencies and centralization.  It also adds an additional layer of incentives to help promote the adoption of blockchain ecosystems and address the issue of centralization of infrastructure.

DAppNode empowers people by creating a simple, transparent system for hosting DApps, cryptographic assets, IPFS, and more into P2P clients.  Running nodes on your own machine, you have to spend a lot of time keeping them up to date.  And the emergence of DAppNode, a good solution to this problem, to help everyone easily run their own node.  Therefore, I think DAppNode is a plug and play blockchain node. Of course, some people say it is a portable and secure private blockchain computer, but it can also be regarded as a cold wallet.

What can DAppNode do?

DAppNode has unlimited possibilities.  As a block chain supercomputer node, DAppNode is equipped with dozens of built-in chains, and its computing power is controlled by itself. It can realize many functions related to coins, such as mining, DAPP application development, defI exchange chain.....

So, you can earn encryption revenue through DAppNode;  To earn a return through proof of equity;  Run your own nodes and do everything you can think of.  In the near future, the computing power of all devices in the DAppNodehost network will naturally become a super low-level chain.

conclusion

Ethereum 2.0 Staking is a business that has a lot of room for the average user to build a node.  Not only does Staking generate royalty revenue, it will capture more value by providing additional services to its users, such as a market for Staking tokens, or the value of a lot of the user itself.

Ethereum 2.0 Staking is Staking with lots of participants. Institutions, exchanges, and project parties are deeply involved.  But ordinary users can only participate in the layout of some projects.

In this paper, DAppNode project as an example, to throw a brick to introduce jade, to everyone cut into this track to provide a simple reference, I hope we can find their own gems.  (See https://dappnode.host/ on the DAppNode website)

-END-

Disclaimer: This article is an independent opinion of the author and does not represent any position, nor does it constitute any investment opinion or advice.

[jarvis-eth]

What did Vitalik talk about at ETH Shanghai Summit on the eve of ethereum merger?

I watched Vitalik's live broadcast in ETH this morning. I would like to share some new insights with you.

1 /

First of all, we can see that Vitalik deliberately downplays the concept of "ETH 2.0" and emphasizes PoS, Danksharding and other specific technologies.

2 /

Vitalik is not alone in sensing that the term "ETH 2.0" has been deliberately avoided by the entire Ethereum community for fear of misleading others. To put it bluntly, the merge of PoS ETH and PoW ETH is a simple switch of consensus mechanism, more like the transfer of power, but there is no substantive change at the user level.

3 /

After the "great Merger", PoW mining machine nodes were all offline and replaced with PoS nodes, such as Lido, CEX and so on.

Honestly, that's where the difficulty bomb is, and graphics miners can't get away with it unless they fork. However, the voice power and time window of ETH PoW miners are not enough to support such a fork.

4 /

Therefore, PoS ETH is no longer a new chain, but a switch to the current ETH consensus mechanism. The apps, the users, whatever they do, nothing changes.

So I say the great merger is a transfer of power. It is just like Hong Kong's return to China in 1997. Although the authorities have changed, the people and business remain the same.

5 /

The theoretical best-case scenario could be that you go to bed as PoW's Ethereum, wake up, open Metamask for a few transactions, and realize it's PoS, and you don't have to do anything or even feel anything.

6 /

I don't want to repeat the advantages of PoS. In short, it saves energy, improves performance, and makes it easier to determine the final state. I personally support it.

7 /

Vitalik noted that Ropsten, ethereum's largest test network, will launch PoS in June.

This is different. Rop is the parent test network, Metamask's number one default network, and the network that almost all Ethereum developers want to use.

Once Ropsten is installed and there are no problems, the mainnet will be online for another 2-4 months.

8 /

In addition, we are concerned about when can we withdraw the $stETH and $BETH we have saved? According to the Vitalik roadmap, the main network merges first (merge), and after a period of time, withdrawals (withdrawals enabled).

9 /

In addition, as for performance, I understand that PoS alone can only improve TPS a little bit, and don't expect PoS to be much faster than PoW. On the contrary, the difficulty bomb starts to explode in June. If the merger is not completed by the end of the year, the block interval may be stretched to 18-20 seconds, which will decrease ETH TPS and increase Gas price.

10/ As for performance expansion, it still depends on sharding. But sharding, to be honest, is really hard to develop, even to design. Centralized sharding is easy, but de-centralized sharding is orders of magnitude more difficult.

You can't have your cake and eat it.

11 /

I remember when ETH said they wanted 1024 shards to increase performance by a factor of 1000.

64 shards to test the waters, 16 times smaller target hahaha

Back community said 64 also can not come out, simply engage in danksharding.

12 /

Danksharding is relatively new, it seems that there is no translation, so it can be understood as a new sharding route.

Vitalik reiterated that sentiment today. We used to have 64 shards, and we still need 64 committees, but if we use Danksharding, we don't need any of that.

13 /

When combined with PBS and crList technologies, one block proposer and one builder will be able to create a super-large shard (the goal has been narrowed from 64 shards to one super-large shard).

To use a loose analogy -- to make a huge block.

14 /

How big is this huge block? - 1 MB.

After EIP1559, ethereum blocks now average tens to one or two hundred kilobytes. If Danksharding is used, the first step can directly pull the block size to about 1MB, increasing the TPS of ETH to 5, 000.

Personally, I feel that 5K is definitely enough, after all, it's only 15.

PS: I think this is different from the large block of BCH, which is the introduction of PBS and crList technology, which can eliminate the centralization risk brought by many large blocks.

15 /

Later ETH will try to pull blocks up to 16MB (which may take a few years), and then with Layer2 Rollup technologies, maybe Ethereum's TPS can go up to 80,000 beats per second.

So this number is good enough, and now these Web2s are of this magnitude.

16 /

Vitalik also reaffirmed Rollup's place in history. Rollup is by no means a temporary measure before the expansion of Ethereum. It looks like it's in for the long haul. And Vitalik somewhat praises OP for its good governance module design.

17 /

Best of all, Vitalik has another point that I think is ahead of its time, that ETH is now too dependent on DeFi. However, DeFi is OK in bull market, and there are many unexpected risks in bear market. Vitalik also teased $Luna for a wave of 2333 by name. So ethereum needs more non-financial applications.

18 /

However, I think this is a chicken-and-egg problem. Only financial applications and top art works can bear the current ETH gas fee, while others, such as social networking and games, are in doubt. However, if PoS upgrades smoothly and Danksharding progresses smoothly, there is still hope.

19 /

Looking forward to the merge!

[jarvis-eth]

ETH2.0

Blockchain technology has revolutionized global markets, disrupting finance, trade, agriculture and healthcare.  Bitcoin was the first widespread use of blockchain technology, but more than 9,000 other copycat coins have evolved from there.  Ethereum, with the second largest market cap, is the largest general-purpose blockchain.  Bitcoin's focus is on being a store of value and an easily transferable and safe hedge against inflation.  Ethereum, on the other hand, is specifically designed for smart contracts and Dapps (decentralized applications).  Taifang is great;  However, it's not perfect, but the Ethereum Foundation has the ability to improve things like performance and security, and it's doing that with Ethereum 2.0.  

Ethereum 2.0, also known as Eth2 and Serenity, is the first upgrade to the existing Ethereum classic blockchain and aims to increase the speed, efficiency, and scalability of the Ethereum network while improving security and making the network more sustainable.  If you already have ETH, don't worry;  You don't have to do anything;  ETH 2.0 upgrades are done behind the scenes and owners should never know the difference.  

The reduced costs and higher speeds of ETH 2.0 will enable more types of Defi transactions and provide opportunities for new and different types of security tokens, NFT, and other distributed financial applications that do not make economic sense in ETH 1.0.  ETH 2.0 will also allow more complex and cheaper smart contracts that use zero-knowledge aggregation and optimistic aggregation.  By aggregating, all transaction data is bundled and available on Ethereum in a cheaper way than using regular blockchain-based transactions.  The computational load required for aggregation is done off-chain, further improving throughput and transaction cost efficiency.  

The ETH 2.0 upgrade will enable this beneficial global decentralized smart contract system to move forward with its vision of speed, security and reliability, reduce its carbon footprint, and level the playing field for investors to have a democratic say in ethereum by betting on the future of ETH.  Ethereum 2.0 is a necessary upgrade to the blockchain network that is already most widely used for smart contracts.  With the growing acceptance of cryptocurrencies, smart contract DApps, and NFT, the scalability of the Ethereum 2.0 network will undoubtedly attract more users, making it the service of choice!