eth2 validator launchpad | Ethereum Foundation Blog

After months of hard work by the eth2 research team, together with Consensys and DeepWork Studio, we are pleased to announce the release of the eth2 validator launchpad (testnet version).

We are launching it now so you can track and make deposits in the next multi-client testnet medal. But we will continue to fine-tune the interface in the lead up to the mainnet launch.

The idea behind the launchpad is to make the process of becoming an eth2 validator as easy as possible, without compromising safety and education.

In contrast to using a third-party service, running your own validator comes with the responsibility of managing your own keys. This responsibility brings with it an inescapable trade-off between ease of use, safety, and education.

Education

The first mission of the launch pad is to help validators learn about all aspects of the process. Above all, we want to make sure that validators know what they’re doing and why they’re doing it.

The basics

We start with the basics. Before you even start the registration process, you need to understand what eth2 is and why validators are required for eth2 to work properly.

Timelines and milestones

You should also understand that eth2 will be released in multiple phases.

And where we currently are on that timeline.

rewards

Before deciding whether to run a validator, it’s important to have a clear idea of ​​the amount of rewards you can receive.

In particular, you must understand that the rewards are not fixed, but dynamic (a function of the amount of eth staked on the network).

In plain language, if the total amount of ETH staked is low, the annual reward is high, but as the total stake increases, the reward received by each validator starts to decrease.

Once you feel you have a good understanding of the above concepts, you’re ready to begin the registration process.

The first part consists of a series of pairs of statements (a piece of information followed by an acknowledgment of the form “I understand this piece of information”) that can be broadly divided into three categories: risk, liability, and safety (although there are some overlap between the three).

Risk and responsibility

The eth2 network can only function successfully if validators understand their responsibilities and the risks involved.

With respect to risk, we want you to understand what your mitigation risks are, as well as the inherent risks involved in being an early adopter.

Regarding liability, we want to make sure you understand that you will only receive rewards if you actively participate in the consensus, and that this process is not reversible (you will not be able to transfer your staked ETH off of eth2 until much later). later).

a couple of example statement pairs

Security (keys)

Unlike joining a participation group, running your own validator comes with the responsibility of managing your own keys.

Before we start generating keys, we want you to understand what they do and how they are created. Most importantly, you need to understand that your keys are derived from a single mnemonicand that you will not be able to withdraw your funds without accessing this mnemonic.

Key generation

Once you have accepted the risks and responsibilities, the dapp will instruct you how to use a command line interface (CLI) to generate your keys offline.

What does this look like, in practice?

1. Choose the preferred language

Upon entering the interactive CLI, you will be prompted to choose your preferred language

Please choose your mnemonic language (czech, chinese_traditional, chinese_simplified, english, spanish, italian, korean) (english):

2. Type the password to protect the keystores and generate mnemonics

You will then be prompted to enter a password

Type the password that secures your validator keystore(s):

Correctly confirming the password, generates your mnemonic (24 words used to generate your private keys).

3. Write mnemonics

Write it down and keep it safe (you will need it to get your deposit back)

This is your seed phrase. Write it down and store it safely, it is the ONLY way to retrieve your deposit.


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Press any key when you have written down your mnemonic.

4. Generate keys, keystores, and cache data

Please type your mnemonic (separated by spaces) to confirm you have written it down:

Once you’ve proven that you’ve written down your mnemonic, you’ll get your keys:

             #####     #####
                ##     #####     ##
    ###         ##   #######     #########################
    ##  ##      #####               ##                   ##
    ##     #####                 ##                       ##
    ##     ##                     ##                      ###
   ########                        ##                     ####
   ##        ##   ###         #####                       #####
   #                          ##                         # #####
   #                            #                        #  #####
   ##                             ##                    ##
   ##                              ##                   ##
   ##             ###              ##                   ##
   ###############                 ##                   ##
   ###               ##                                 ##
      #############################                    ##
                     ##                             ###
                     #######     #################     ###
                     ##   ## ##        ##   ##    ###
                     ##############          #############
Creating your keys.
Saving your keystore(s).
Creating your deposit(s).
Verifying your keystore(s).
Verifying your deposit(s).

Success!
Your keys can be found at: <YOUR_FOLDER_PATH>

That is!

Proceedings

Once you’ve securely generated your keys, we’ll walk you through uploading your public keys online, where they’ll then be verified and sent to the deposit contract.

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We verify that the data you are uploading is valid.

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Double check that you understand the most important things.

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And then help you send those transactions.

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And voila! That’s all about it. You have successfully deposited and committed to becoming a validator on eth2!

Now that you’ve made your deposit, the next step is to choose your client (the software you’ll use to set up your Beacon Node, import your keystores, and run your Validator).

It seems that they will be no less than four clients running on genesis — Lighthouse, Cloud, PrismY Sea. Although client teams won’t have Medalla-specific documentation ready until closer to August 4, now is probably a good time to start researching which client (or clients) you want to test. Take a look at their docs, play around with your local testnets, and feel free to contact the teams directly (discord is probably the place to go).

The Launchpad has been a major project for us as something that can create a welcoming and educational experience for beacon chain and eth2 integration. Still, we expect other great interfaces to catch up with time from client operators and leading teams, and we hope you’ll test their releases as well when the time comes.

We hope you enjoyed this simple tutorial. We can’t wait for you to use the launchpad to make your medal test net deposits

A special thanks to both of you. consensus Y Deep Work Studio

PS: If you want a basic overview of what it means to be a validator on eth2, along with clear descriptions of the responsibilities involved, you may want to check out our Frequently asked questions.

PPS If you find any issues with the launchpad, please don’t hesitate to report it. here.