After months of hard work from the eth2 research team, as well as Consensys and DeepWork Studio, we are happy to announce the release of the eth2 validator launch bar (testnet version).
We’re releasing it now so you can track and make deposits on upcoming Medalla Multi-Client Testnet. But we will continue to refine the interface closer to the mainnet launch.
The idea behind the launchpad is to make the process of becoming an eth2 validator as simple as possible, without compromise on safety and education.
Unlike using a third-party service, running your own validator comes with the responsibility of managing your own keys. This responsibility involves an unavoidable compromise between ease of use, security and education.
Education
The first mission of the Launchpad is to help validators learn about all aspects of the process. Above all, we want to make sure validators know what they’re doing and why they’re doing it.
The basics
We start with the basics. Before you even begin the registration process, you need to understand what eth2 is and why validators are necessary for eth2 to work properly.
Timelines and milestones
You should also understand that eth2 will be released in several phases.
And where we are currently in this timeline.
Awards
Before deciding to use a validator, it is important to understand the amount of rewards you will be able to receive.
In particular, you must understand that the rewards are not fixed, but dynamic (depending on the amount of eth staked in the network).
Simply put, 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 begins to decrease.
Once you feel like you have a good handle on the concepts above, you are ready to begin the registration process.
The first part consists of a series of pairs of statements — information followed by an acknowledgment of receipt such as “I understand this information” — which can be divided into three categories: risk, liability and security (although there are has some overlap between the three).
Risk and liability
The eth2 network can only operate successfully if validators understand their responsibilities and the risks involved.
When it comes to risk, we want you to understand what your mitigation risks are, as well as the risks inherent 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 consensus, and that this process is irreversible (you will not be able to transfer your staked ETH out of Eth2 until many years). later).
some examples of instruction pairs
Security (keys)
Unlike joining a staking pool, managing your own validator comes with the responsibility of managing your own keys.
Before we jump into generating keys, we want you to understand what they do and how they are created. Most importantly, you need to understand that your keys come from a unique identifier. mnemonicand that you will not be able to withdraw your funds without access to this mnemonic.
Key generation
Once you accept the risks and responsibilities, the dapp walks you through how to use a separate app. command line interface (CLI) to generate your keys offline.
What does this look like in practice?
1. Choose preferred language
Upon entering the interactive CLI, you will be asked to choose your preferred language
Please choose your mnemonic language (czech, chinese_traditional, chinese_simplified, english, spanish, italian, korean) (english):
2. Type password to secure keystores and generate mnemonic
You will then be asked to enter a password
Type the password that secures your validator keystore(s):
By correctly confirming the password, generates your mnemonic (24 words used to generate your private keys).
3. Write down the mnemonic
Write it down and keep it safe (you’ll 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. crater positive retire course wide arch ring zoo leader cup steak head spoon host about acquire across duck firm frog raccoon gasp exist valid Press any key when you have written down your mnemonic.
4. Generate keys, keystores and repository data
Please type your mnemonic (separated by spaces) to confirm you have written it down:
Once you have proven that you have written down your mnemonic correctly, you will receive 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’s it!
Transactions
Once you have generated your keys securely, we guide you on how to upload your public keys online, where they will then be verified and sent to the deposit contract.
.
.
.
We check that the data you upload is valid.
.
.
.
Double-check that you understand the most important things.
.
.
.
And then help you send those transactions.
.
.
.
.
.
.
And there you have it! That’s all there is to 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 configure your Beacon Node, import your keystores, and run your validator).
It seems that they will not be less than four customers running at Genesis — Lighthouse, Nimbus, PrismAnd Teku. Although customer teams won’t have Medalla-specific documentation available until August 4, it’s probably a good time to start researching the customer(s) you want to test. Take a look at their docs, play around with their local testing networks, and feel free to get in touch with the teams directly (discord is probably the place to go).
Launchpad has been an important project for us because it can create a welcoming and educational experience for the beacon chain and Eth2 integration. However, we expect more interesting interfaces to come online over time from customer operators and management teams, and we hope you will try their versions as well when the time comes.
We hope you enjoyed this simple walkthrough. We can’t wait for you to use the dashboard to create your Medal testnet deposits 🎉
A special thank you to both Consensys And Deep Work Studio 💙
PS If you would like a basic overview of what it means to be a validator in eth2, as well as a clear description of the responsibilities involved, you might be interested in checking out our FAQs.
PPS If you encounter any problems with the launchpad, do not hesitate to report them here.
