Collin Myers, who leads global product strategy at blockchain firm ConsenSys, asserted that a minimum quantity of 32 Ether (ETH), worth roughly $5,750, is required to become a validator on the Ethereum 2.0 blockchain.
Myers disclosed the information at Devcon 5, a blockchain event.
Ethereum 2.0 is a critical overhaul of network on the Ethereum blockchain that is braced to move its present Proof-of-Work consensus protocol to Proof-of-Stake, allocating block validation function to exclusive network validators, instead of miners.
As earlier agreed by Ethereum core developers, the initial phase of the Ethereum’s upgrade to Ethereum 2.0 is anticipated to happen on January 3, 2020.
At Devcon 5, Myers also unveiled a tool permitting validators to compute annual gross and net returns, considering hardware and power costs. Dubbed ETH 2.0 calculator, the latest web application is intended for introduction in combination with Ethereum 2.0. The prototype of calculator is debated in Telegram group ETH 2.0 Calculator.
Notably, Ethereum co-founder Vitalik Buterin voiced his position towards the Google’s mostly talked about developments in quantum computing, which could supposedly affect Bitcoin (BTC) and other crypto.
Buterin, through a tweet, highlighted that latest quantum dominance is a long way from actual quantum computing. He further stated that it is like comparing hydrogen bombs to nuclear fusion. He elaborated further by saying:
“Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things.”