Ben Edgington (Eth2 at ConsenSys — all views expressed are my own)
Edition 58 at eth2.news
Thank you, so much, everyone who has contributed to my Gitcoin Grant! Incredibly, over 100 people have contributed. I am blown away by this, and I promise to continue to make progress on the annotated spec.
We don't have a grants page for Teku–-I am sometimes asked about this–-if you appreciate Teku, please consider donating to some other Eth2 supporting projects in this round.
It's been a wonderfully dull eleven days since genesis: apparently it all just works
The genesis event went as smoothly as a Sade album. The EF/EthStaker launch party was a lot of fun and has racked up an incredible 50,000 YouTube views. The competing EthHub event is available as a podcast and on YouTube. Coin Jazeera covered the launch with their customary brilliance.
There were suggestions for the proposer of the first block to include something profound in the graffiti field (32 arbitrary bytes are available). This is what we got:
Mr F was here
Vitalik seems to approve
Deposits into the beacon chain contract continue to pile in as confidence grows. You can track them here. As of writing, 1.4 million Ether have been staked (well over 1% of all ETH), representing 31 thousand active validators and 13 thousand in the activation queue - the current wait for activation is over two weeks. Follow the Eth2 Rewards Bot on Twitter for beacon chain status updates. Nice to see that there has been only a single invalid deposit out of the almost 45 thousand made to date, and that for only 1 ETH.
Network participation rates are hovering around an extremely healthy 99%, and my Teku node is humming along nicely, keeping up perfectly, while using almost no CPU and very modest amounts of memory. This is all as predicted a while ago.
Barnabé Monnot made a characteristically thorough analysis of the first 1000 epochs (4.4 days) of the beacon chain. Tl;dr: it's working beautifully.
The biggest drama is that there have been five distinct slashing incidents so far. Worth saying that being slashed is perhaps not quite as severe as it sounds. The immediate penalty is currently only 0.25 ETH out of your 32, plus a little more due to other penalties. The main pain point is that your Ether is now locked and inactive in the beacon chain until some kind of withdrawal mechanism is in place.
At least three of these incidents, and possibly all of them, are the result of a bad practice repeatedly advised against: running the same validator keys on more than one validator instance. Please don't ever do this.
It is likely that People are trying to build redundant configurations. This is misguided! A little downtime (a day or two) will have an insignificant effect on your total rewards over the long term, and is preferable by far to getting slashed. In Vitalik's words, "don't try so hard". Carl B went into more detail on this on the Ethereum Foundation blog: Perfect is the enemy of the good. Raul Jordan also wrote some excellent Eth2 Slashing Prevention Tips which apply across clients generally, not only Prysm.
While on slashing, Alon Muroch of Blox Staking wrote about minimal slashing protection. This matches what we put into in Teku a while back for our local slashing protection: simple is best. Alon's article doesn't cover block proposals, but that's a trivial extension.
The current testnet is Pyrmont, which continues to run smoothly (90% of validators are run by the client teams and the EF). There's no queue to enter right now, and we expect Pyrmont to remain the main testnet through to the end of January, at least.
I love this community: where there is a need or an opportunity, someone steps up. This is certainly true of the growing ecosystem of tools.
chaind
tool (Medalla data challenge gold medallist from Jim McDonald of Attestant) to monitor the performance of our own nodes. (Adrian found a bug in the queries today related to endianess, but it'll give you a flavour.)Some lists of staking services are emerging:
The EthStaker community is putting together the Ethereum due diligence committee to grade staking services. You can see past discussions on their playlist.
Reminder that your staking service could appear here!
Vitalik updated his take on the Eth2 roadmap, with the addition of progress bars.
The main change in emphasis, as we've noted previously, is the moving forward of the Eth1/Eth2 merge, which we'll now be working on in parallel with sharding and light clients. The leading candidate for the merge is the executable beacon chain, currently being prototyped by Mikhail Kalinin.
Vitalik also proposed some protocol tweaks that we might make in short- to medium-term. One of the big challenges for clients is processing the epoch transition in a timely way: the first blocks of epochs often get orphaned on Pyrmont, and attestations are often incorrect around the start of epochs. This doesn't affect the beacon chain itself much just yet, but it would be good to ease this soon - that's part of the goal of the proposals.
In the even shorter term, an additional type of withdrawal mechanism for stakes is under discussion. Currently, when you make a deposit, you commit to a private BLS key that will be used in future to withdraw your stake from the beacon chain by some mechanism that hasn't yet been designed. This is fine for individuals, but is a problem for trustless staking pools who need to manage withdrawals via a smart contract. Now that the Eth1/Eth2 merge is much closer, it's possible to design such a mechanism and give some certainty about how it might work. We reviewed some of the proposals in the last edition. Dmitry Shmatko added to the discussion.
This has all gained momentum now that genesis is behind us. Lakshman Sankar wrote an article on supporting staking pools, and appeared at EthStaker community call #12 to discuss it. Since then, a pull request to the specs has appeared, and Superphiz wrote some commentary. None of this is technically difficult. It doesn't even require a fork of the beacon chain. It's just good to agree a clear commitment to a mechanism.
More on getting set up and staking
Superphiz sightings:
Things about proof of stake:
Messari:
'Tis the season for chunky reports on Ethereum 2.0, apparently. Delphi also has one. But this is for members only, so I haven't seen it.
Viktor Bunin of BisonTrails has been producing nice updates on Eth2 for a little while. Here are number 7 and number 8.
Afri did a Crowdcast Eth2 AMA with Outlier Ventures.
Finally, Alon Muroch of Blox Staking was the guest at the Secret Shared Validators community call on December 11th. Here are the slides he presented, about how SSV enables trustless staking pools, and the pros and cons.
Call #53 took place on the 3rd of December.
No big news. We had a bit of discussion about the future of testnets. Tl;dr - we're keeping Pyrmont through end of January.
We had another of our occasional networking calls on the 10th - the first for three months. According to my records, it was #7, but Danny has it as #6.
Lots of good discussion, but you really had to be there for the detail.
Two on Monday from EthStaker
This newsletter was brought to you with the help of 1984 Sade. I listened to the entire Diamond Life album five times straight through while writing. I'm now feeling quite mellow. Hope you all are feeling chilled as well.
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Of course I am being tongue-in-cheek here. It's a great article. ↩︎