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Ethereum is going to Proof of Stake sometime next year (with all the delays, it is difficult to set a date). The Casper protocol has been formalized, the specifications are complete and now the implementation phase can begin. Depending on how long it takes to implement and test, you can determine how everything is done.
The question is: will it really be worth pointing to Ether in the first place? Will people be able to do it safely? And what should you do to get ready for the stakeout?
Reportedly, the Casper FFG hybrid will unite Proof-of-Work with Proof-of-Stake (PoS), with the goal of finally moving to PoS. According to EIP, one of the specifications of the update reduces the remuneration of the miners block to 0.6 ETH over the current 3 ETH (reduction of the block premiums of 80% in one year).
~ 5% annual interest for anyone who wants to freeze $ 1 ml (1500) in Casper.
4% research fee for anyone discovering bad actors (cut).
The minimum stakeout requirement is set on 32 ethers.
Yes, 32 ETH is the minimum staking in the sharding proposal.
– Vitalik non-donor of ether (@VitalikButerin) June 2, 2018
A Redditor asked a question about what he should do to get ready for the PoS on Ethereum and get an answer directly from Vitalik:
- Get enough ETH.
- Keep an eye on the testnets; they will start coming in a couple of months. Participate in them to get an idea of what validation is worth in practice.
Vitalik has also been asked for a new hardware device called NeverSlash, which aims to protect the validation nodes from possible cuts. NeverSlash encodes the cutting conditions of Casper FFG in a Raspberry Pi. Instead of manually checking if your vote violates the cutting conditions, validators can rely on NeverSlash to prevent them from passing that vote.
He called the brilliant device and spent the whole idea of ethereum staking:
"The goal is to make picketing highly accessible, like a laptop with predefined targeting and, ideally, even telephones (think of the devices used that replace the new ones, which then abandon themselves to the hope connected to a source of power supply and home wifi).
The advantage of hardware devices like this is to provide an additional level of security; The hardware itself will only sign messages provided by the client, will not be able to connect directly to the Internet, the worst thing it could do is stop signing new messages, requesting to disconnect and retire and reconnect with a different key. "
Buterin went on to talk about the different philosophies Vlad Zamfirov (one of the main developers of Ethereum) and to have validators as proof of the stake's consent:
"Vlad's attitude is decidedly less lenient towards the validators than mine, I think he would prefer that the validator entries would be significantly negative if you are online less than 85% of the time.
There are a number of defenses that guarantee that losses from "fainting" are quite small (think about 1% -4% of the deposit) unless you happen to ruin at the same time many other people or an attack . This means that if all is using Akomba devices the risk of using one increases, since there is a greater risk that all fail at the same time, but until then if it is set correctly it should be fine. "
Coinbase Pro will play ETH for you
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