ETH 2

I have always been a chart guy. So when some 'instruments' (any financial item that can be digitally traded) move, it always show up on my scan. I normally do not trade crypto, so I just ignore BTC popping up around my scan (I invest in BTC). So when ETH shows up on my scan, I became is bit surprised. Is it 2017 summer again? Or is it 2017 winter? Mind you I do follow Ethereum, and I do have a few ETH. Vitalik is a person I respect and I think his heart is in the right place. But here I am just talking about the price.

Source

So I looked up ETH news and almost immediately got myself into the launchpad webpage (linked above). I generally knew about it earlier but I didn't know the numbers and the status.

Validator

A validator is like a stakeholder in hive, but it has lot of the elements of an witness in hive. As per their definition:

A validator is an entity that participates in the consensus of the Ethereum 2.0 protocol. Or in plain english, a human running a computer process. This process proposes and vouches for new blocks to be added to the blockchain. In other words, you can think of a validator as a voter for new blocks.The more votes a block gets, the more likely it is to be added to the chain. Importantly, a validator’s vote is weighted by the amount it has at stake.

If you read the above carefully you will see the similarities and the differences between the witness and a validator. Similarity is that a validator produces a new block just like an witness. But the difference is in the stake:

Before a validator can start to secure the network, he or she needs to stake 32 ETH. This forms the validator’s initial balance.

This is a key difference. There is no advantage of having more than 32 ETH stake. In theory all stake holders have equal share, this is very different from DPOS that we are used to in Hive. ETH network is preventing or at least trying to prevent any single stakeholder to have a large amount of stake. Now, I read the FAQ, and it was unclear to me can people have multiple account? Can a single person control 10 different validator using 10 different identities? What about 100? If anyone knows the answer to that please let me know.

Status

They require at least 524,288 ETH to launch the main net. Currently at the time of writing on Nov 23, at 4 PM CST, they are at 425,408 ETH. And it is changing in real-time!

Source

So, looking like at this rate, they will probably get there tomorrow. This is obviously creating both a surge in demand and therefore price!

That is beautiful looking chart for ETH/USD. I like this chart in terms of pure aesthetics much better than the chart for BTC. As of this writing the price is north of $600.

Closing Words

I hate to say that "This time it is Different", because it rarely is. With that said, the industry is matured now compared to 2017. We have WLEO which is now attached to the ETH chain in a indirect way. So any positivity in the ETH chain should permeates to LEO through the Uniswap liquidity pool. I am personally in all of them by varying amounts. So we will see if the party lasts and how long it lasts.

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

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