Ethereum 2.0 Validators Will Earn Up To 10% Yearly For Staking: Report

The Ethereum 2.0 validators can now expect to earn anywhere from 4.6% to 10.3% as their rewards for staking on an annual basis. The ETH news come from a ConsenSys senior executive who recently spoke about the ETH network.

Named Collin Myers, he is the head of global product strategy at the blockchain firm ConsenSys. He recently claimed that in order to become a validator on the Ethereum 2.0 network, one has to maintain a minimum amount of 32 Ether (ETH) which is currently worth around $5,760.

Myers spoke at the Devcon 5 event and was featured on Coindesk too. For now, the Ethereum 2.0 validators are earning well. However, with the Ethereum 2.0 upgrade on the blockchain, the situation will change. The situation will shift the current Proof-of-Work consensus algorithm and pass the block validation function from miners to special Ethereum 2.0 validators. As previously agreed by the core developers at Ethereum, the first stage of the transition to Ethereum 2.0 is expected to take place on January 3, 2020.

The same event had Colin Myers revealing a tool which would allow validators to calculate annual gross and net returns. The entire tool will take into account hardware and energy costs. It is dubbed ETH 2.0 Calculator, the web application is planned for launch in conjunction with Ethereum 2.0. The calculator and its model is discussed in Telegram group named ETH 2.0 Calculator.

@StakeETH came up with an Eth2 calculator. Join this telegram group to check out the model.https://t.co/LxDnPmmHgA

— James Beck (@JamesJohnBeck) October 24, 2019

Yesterday, we have the Ethereum co-founder Vitalik Buterin expressing his stance towards the new quantum computing progress by Google, which could allegedly impact the Bitcoin (BTC) landscape and other cryptocurrencies, too. In a tweet on October 24, Buterin said that recent quantum supremacy is as far from real quantum computing as hydrogen bombs are to nuclear fusion.

“Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things,” he explained them.

Now that the Ethereum 2.0 validators are seeing their annual earnings increased, many things will change in the Ethereum ecosystem. Meanwhile, the crypto news show that a massive influx was seen on the market today, mostly in the price of Bitcoin (BTC) which rose by 17% but Ethereum too, which managed to gain more than 6% and get to the $180 price point.