The Beacon Chain is live and the first phase on the eth2 roadmap has been hit. At time of writing there are 21,063 validators, 674,016 staked ETH and participation is around the 85% level. The launch was a resounding success with justification and finalization of the beacon chain happening just like it should!
I’ve been watching my eth2 validators humming along since genesis and I must say that it’s quite the amazing feeling to see my ETH balance ticking up as I earn rewards for participating in securing the network. It feels like my ETH is finally “home” or in other words, where it belongs after all of these years. I’m actually getting a little bit of fomo at this point to deposit more ETH into staking but I’ll sleep on this for now!
For those who don’t know, there is a “graffiti” field that validators can append a short sentence to that everyone can see when a validator proposes a block. The first ever graffiti on the Beacon Chain came from someone named ‘Mr Fahrenheit’ who posted “Mr F was here”. Turns out this is actually a reference to Queen and Vitalik’s autograph to them - sometimes the universe just does something cool. I wonder how many memes we’ll see pop up around this?
Alright so I’m going to keep this piece short today as it’s almost 1:00AM for me and I’m exhausted from all the eth2 fun. If you want to monitor the Beacon Chain, you can head here, here or here. The main thing that people are looking out for is increased participation (ideally above 90%), more ETH being staked now that the chain is live, any slashing events and, of course, the distribution of the clients.
Thank you to every single person who made today’s launch possible - you are the real legends of Ethereum!
Onwards to sharding and the eth1 <> eth2 merger!
Have a great day everyone,
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All information presented above is for educational purposes only and should not be taken as investment advice.