150,000 ETH Sent to the Ethereum 2.0 Testnet Deposit Contract – Trustnodes

150,000 ETH Sent to the Ethereum 2.0 Testnet Deposit Contract


Ethereum 2.0 deposit contract launches on testnet, July 2020

The ethereum 2.0 testnet deposit contract is being flooded with transactions just days after it launched as ethereans now prepare for the final stage of the biggest eth upgrade so far.

Close to 5,000 deposits of precisely 32 eth have been made as of writing, meaning 5,000 stakers are good to go as soon as the testnet launches on August 4th next week.

A minimum of 16,384 validators (524,288 ETH) are required before this can start according to Danny Ryan, the ethereum 2.0 coordinator.

That should easily be met, especially now that people know this has gone live, with 152,224 eth already deposited.

This is running on the Proof of Authority (PoA) testnet, Goerli, from where it then connects to the ethereum 2.0 testnet once it launches.

There were some discussions on whether there should be binaries for the depositing process, with it currently command line.

There is a launchpad site that explains the staking process, but at some point apparently you’re asked to download Python according to Raul Jordan of Prysmatic.

Then presumably you follow these instructions, which for any python user should be very easy, but non coders might find it hard, however there probably will be tutorials and videos going through it all step by step.

“Being able to get something running on the command line is almost the bare minimum requirement we’re willing to accept for technical competency for running a validator, some % drop-off there isn’t necessarily a bad thing,” Ryan said.

They have been testing themselves, there were some invalid deposits apparently, “1 invalid deposit was from me to check our explorer,” someone from Beaconcha.in says.

Now however the public should be able to join with four clients currently supported: Lighthouse, Prysm, Nimbus, Teku and Loadstar.

If you’re not familiar with those clients, you need to get familiar with one of them if you want to participate as it’s through them that you stake.

You first need to get 32 testnet eth, then figure out this python thing which is actually very easy with one hint being you need venv rather than installing it locally, and then you done, you just sit and wait until the testnet goes live and then see what happens.

Also See: The Ethereum 2.0 Launchpad Goes Live