Ethereum Announces Annual Staking Rewards for Its 2.0 Network Validators

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During the recently-held Devcon 5 Blockchain event, ConsenSys global product lead strategist Collin Myers announced that validators of Ethereum 2.0 could annually earn 4.6% up to 10.3% staking rewards. 

The executive further explained that to qualify as an Ethereum 2.0 validator, one has to have 32 Ether as the minimum amount of holding. Notably, the announcement serves as Ethereum’s response to the recent surge of interest from industry players who want to partake in shaping the new network. 

Ethereum launched an upgraded version of its network intending to switch from Proof-of-Work to Proof-of-Stake consensus algorithm. From miners, the job of validating blocks would be passed on to individual network validators. As previously announced by Ethereum’s core developers, the transition of the first network to its 2.0 version would happen on January 3, 2020. 

Myers also introduced an ETH 2.0 calculator that would allow validators to find out how much net returns and gross they can reap in a year. The tool takes into account energy costs and hardware. As confirmed by Myers, the calculator would be launched alongside Ethereum 2.0’s roll-out next year. 

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