Bankless Phase 0 ANNOUNCED - ETH STAKING IS HERE | Preston Van Loon of Prysmatic Labs ALPHA LEAK
Nov 4, 2020
Preston Van Loon, a key developer at Prysmatic Labs, shares insights on the monumental launch of Ethereum's ETH2 staking on December 1st. He discusses what the Phase 0 deposit contract means for the Ethereum ecosystem and the urgent need for community engagement. The conversation highlights the risks of staking, including slashing penalties and validator responsibilities. Preston also provides tips for safely participating in staking, emphasizing security and the importance of preparation as the Ethereum landscape evolves.
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Ethereum's Triple Point
- Ethereum is issuing a "bond" via ETH2 staking, adding a capital asset dimension to its existing commodity and money use cases.
- This allows Ether to generate returns, completing its triple-point asset status.
ETH2.0 Bull Run
- The 2017 bull market was driven by ETH2.0 hype, which didn't fully materialize then.
- Now ETH2.0 is launching, potentially fueling another bull run.
How to Stake
- Don't simply send ETH to the deposit contract.
- Set up a validator using guides like Bankless' testnet tutorials to avoid errors.