SnapBots Review — Ethereum 2.0, Staking Solution

Minimum requirements for staking Ethereum 2.0
Is 32 ETH per validator

Ethereum

Ethereum is a crypto asset built on the open source Ethereum blockchain, which runs smart contracts. Crypto assets act as the fuel that enables smart contracts to run unlike bitcoin, which is meant to be a unit of currency on peer-to-peer payment networks. Ether supply is not as restricted as bitcoin and its supply schedule, often described as the minimum requirement to secure the network, is determined by members of the Ethereum community. The majority of decentralized applications are based on Ethereum and crypto asset accounts for the highest percentage of total funds staked in DeFi projects. Ethereum is scheduled to make the transition to a proof-of-stake mechanism from the current proof of work mechanism in the latter half of 2020.

Ethereum intends to provide an alternative protocol for building dApps and provide a set of different tradeoffs that will be useful for building a large number of dAPPs, taking development time, security and interoperability into account. Ethereum achieves this by building the blockchain with a built-in-Turing-complete programming language, allowing anyone to write smart contracts and dApps in a few lines of code and create their own rules for ownership, transaction format, and state transition functions.

Staking Ethereum 2.0

What are the Minimum Requirements for Staking Ethereum 2.0?
1. Minimum 32 ETH per validator
2. A computer with good hardware specifications and an adequate internet connection

What Software Do I Need to Stake ETH 2.0?
There are two main types of software to watch for when staking on Ethereum:

Beacon Nodes: These are hubs or networks created for Ethereum 2.0 validators
Client validator: You can use this software to connect to your Beacon Node. You can have multiple multiple validator clients at 32 ETH each.

This means that there are three possible combinations of software that can be used when staking Ethereum 2.0:

  1. Beacon nodes only
  2. Beacon node + client validator
  3. Beacon node + multiple validator clients

Ethereum 2.0 Staking Solution

As explained above, for staking in Ethreum 2.0, there are some requirements that might even be quite complicated. However, if you are still interested in the Staking program, you can use SnapBots which is much easier. You can start with as little as $50 and you can register using just your Smartphone

Does Staking Have a Risk?
The most obvious benefit of staking is the opportunity to generate rewards from holding crypto. However, with Staking, users lock down their cryptocurrency holdings for a period of time. This means that if the market crashes suddenly, they won’t be able to pull crypto out of the staking program to sell and reduce losses. Even if there is a smaller downturn in the market, the reward value may not include a reduction in crypto value.

About SNAPBOTS

SnapBots is an artificial intelligence (AI) research firm based in BVI with global users. Driven by its focus on fields of machine learning and deep learning, it aims to supply trading bots as a service.

For more information, please visit:
SnapBots- https://snapbots.io
Community- https://t.me/SnapB

Cryptocurrency is absolutely here to stay. If you can’t see that at this point, it’s time to learn more about it