SOTS #11: We made minimum genesis! Let's get ready to go!

State of the Stake · November 2020 · 8:31

This State of the Stake episode celebrates Ethereum's beacon chain reaching minimum genesis, the validator deposit threshold required to launch the network, and previews final preparations. The conversation places that milestone within the broader staking and validators landscape at proof-of-stake's launch.

Speakers

Topics

From State of the Stake, hosted by Eth Staker.

Transcript

hey east stakers uh it is gosh it's gonna be november 25th because yesterday was the con contract threshold day uh this is gonna be maybe my 10th chat i had a new oh i want to call the state of the stake from now on just because i thought that was cool i'll probably do them more often um welcome if you're new to all of this i'm going to try to stare at the camera today i'm learning to do this stuff um so yeah i'm super fizz i talk about um how i talk about the progress of the ethereum ii beacon chain uh the scaling solution for the ethereum network and wow this has been the craziest day ever

i'd like to begin by congratulating the east acre community i don't care what anyone says i do not believe that we would have reached threshold if the eatstaker community had not submitted deposits and you're going to say fizz there were a lot of deposits it turns out we ended up with over 600 000 ether by the november 24th deadline uh it happened a lot like i thought it would that it began slow and then it ramped up near the end there was a lot of fomo in at the end but what what laid that foundation were a lot of a lot of us a lot of home stakers who trusted the network enough to make small deposits and those small deposits stacked up

until they built enough network confidence that fomo could kick in and then everyone poured in to try to get in before the deadline as for me golly i'm a sleeper and uh i did not sleep well last night and i woke up early this morning um and so ah it's been a rough day but i cannot tell you how just wildly excited i am for the future of this network so if you're a home staker if you're any stake you're thinking what's the status and what's next your status for your validator node should still be the same as yesterday

you should have hardened your system you should have secured ssh or whatever you're using to access your system you should have a firewall installed on your system you should have ports forwarded from your router um to your system and you should have a e1 data source enabled um i always bring up gas uh i prefer guesth but in order to be resilient it's wise for you to consider the other three options open ethereum bay zoo and nether mind um aside from those there's also uh what i call third party providers i know there are more than i can name infura is the one that comes to the top of my head

use that if it's right for you i do recommend that you try to keep your eth1 data local if you can so you're not depending on any third-party service for data but anyway that's where you should be right now you should have your system hardened and you should have an eth1 data source i do not recommend yet that you install your beacon chain client uh we're getting close and i'm probably tomorrow gonna get on here and say hey it's time to install your client of choice um that's going to be either tecu lighthouse prism or nimbus and keep an eye on them be ready but you still have plenty of time before you need to install and what we want to do is give them plenty of time to harden their product

the genesis state is known those clients are able now to hard code that into their um into their binary that you download and run so they're going to do final tests they're going to test and recheck and recheck their product to make sure it's 100 ready for maynet and then they're going to freeze it and that's when they say you know it's frozen and it's ready to deploy that's when we're going to jump on uh let's not be early about it what i would do if i were you right now is i would go to beacon chain uh b-e-a-c-o-n-c-h-a-i-n and you can begin poking around there's a lot of information there already so to begin with you can paste your eth1 address into the search bar at beacon

chain and you can find out uh which validator indexes you've been assigned and from there you can log in you can rename them you can set up a list you can i believe you can set up email alerts um so even though i'm a fan of the product i haven't used all of the features uh but i do know you can enter your ethernet address you can search for your um index numbers and you can create a list if you have more than one to save those and refer back to them we also know if you go to uh beacon chain b-e-a-c-o-n-c-h-a-i-n-slide blocks i think that's right you'll be able to see

um who which which indexes have been assigned to propose the first blocks and so we know that index 19026 will propose the first block after genesis which that's really exciting um that validator will hopefully be online and really like believe it or not let's look at those early validator lists and make sure that if you're in the first uh 32 slots that you are not just ready but really ready that your system is definitely up and ready to go because a smooth network launch depends on uh depends on every validator index being

ready to pro to propose when they're called upon uh and that's known in advance we know you know at least the first two epochs i believe zero and one we know who will be called on to propose and so while it's important for everyone to be ready uh on december 1st at 12 p.m um utc or for me it's december 1st um 6 a.m utc i'll be ready to propose while i'm there we're going to be live streaming the launch we're going to be inviting a lot of developers a lot of um researchers a lot of people involved in the progress toward eth2 and we're going to be watching this

launch live um we'll be streaming to youtube and uh we'll post more links about it but if if you follow the east staker community for any amount of time you've seen that we've done this probably six times these launches where we sit down and we talk about the background and we watch the first blocks come out and we talk about what it means um and we talk about the health of the network so i really hope you'll join us we have already begun to plan that we're building our guest list and for most people you'll be watching on youtube to join us because it is generally uh so this will likely be

the biggest event ever um for the ethereum beacon chain um it may get bigger as as we release future phases but uh this is a really exciting time uh i'm really glad to be in it with the east stakers um and i know that we're just getting started like this is going to be an incredible ride uh and i'm glad to be with you all hey i need to ask one more thing uh help support uh so i've had a rough time i have not uh provided the same support that i like to provide in reddit um and on reddit.com and i also know that there are a lot of needs for support in our discord at um

uh what is that inst yeah so i i don't remember i don't remember right now our uh our discord quick address i'm i'm kind of tired um but we need your help if you know anything to hop in and give your best go at answering a question um upvote questions make people feel supported help them feel welcome i can't do this alone i shouldn't do it alone i don't want to do it alone i want the community to reach out to new people and make them feel welcome and let them know that the east acre community is always going to be welcoming first and knowledgeable second super fizz out i hope you'll have a great day it's time for a nap bye