Ethereum 2.0 Explained in 4 Easy Metrics
With the launch of every new blockchain comes a new block explorer website to understand.
Block explorer sites offer real-time updates on network activity. Normally, they feature information on blocks, transactions and fees. On Ethereum 2.0, the block explorers depict a very different array of metrics involving epochs, slots and attestations.
But even for those familiar with the usual Ethereum explorers such as Etherscan, Etherchain and Blockchair, the new sites for tracking Eth 2.0 activity may be difficult to decipher. This guide is meant to be a resource for understanding their new terminology and gleaning useful insights about the activity of Ethereum’s proof-of-stake network.
For anyone unfamiliar with blockchain explorers in general, this guide will go over the basic details of reading an Ethereum 2.0 blockchain explorer. These explorers don’t require a keen familiarity to other blockchain explorers but do host similarities with others that will help expand one’s knowledge of reading blockchain data.
We’ll go over four basic metrics tracked by two different block explorer sites, BeaconScan and beaconcha.in. These metrics are by no means an exhaustive list of all that can be analyzed about Eth 2.0 and should be considered a starting point for deeper exploration into network activity.
Epochs progressed
Unlike Bitcoin and Ethereum, Ethereum 2.0 progresses in epochs, not blocks. An epoch is a bundle of up to 32 blocks that actors on the network (called validators) propose and attest to over a period lasting roughly 6.4 minutes. An epoch, along with all the blocks of which it is composed, is only considered finalized after the progression of two more epochs after it.
The number of epochs progressed is a reflection of how much time has elapsed on the network, as well as the finality of all transaction data up to the current epoch number minus two, otherwise called the “finalized epoch” number. (See image above.)
This metric can be a useful indicator of any network abnormalities. Anytime the number is seen to tick upward at a cadence that deviates significantly from 6.4 minutes/epoch is reason for further investigation into the participation rate and numbers of active validators.
Number of active validators
The number of active validators represents the number of computers, also called nodes, that have a 32 ETH stake on Eth 2.0 and that have passed the activation queue for entry into the network. As of Jan. 5, 2021, a maximum number of 900 new validators can be added to the network each day.
A total of 262,144 validators is needed at minimum for Eth 2.0 to advance to its next phase of development in which 64 mini-blockchains, called “shards,” will be spawned. At the current rate of 900 new validators being added to the network each day, phase 1 will occur sometime in late August or early September of this year.
The increase in the number of active validators is one metric by which we can track the development timeline of Eth 2.0. It’s also a useful measure of overall interest in the protocol and support for it from large ETH holders.
Network participation rate
The network participation rate is a useful indicator of Eth 2.0 network health. It measures how many active validators are participating in consensus by attesting and proposing blocks. Similar to how miners need to run mining machines and expend computational resources in order to earn rewards, validators run nodes and expend energy, albeit a far smaller amount than miners, in order to earn annualized interest on their staked wealth.
A participation rate of 99% suggests the vast majority of validators on Eth 2.0 are doing their job and securing the network. Significant declines in this number would suggest active validators are shutting their nodes down and disconnecting from Eth 2.0.
Read more: Ethereum 2.0 Deposit Contract Secures Enough Funds to Launch
This could be as a result of a major power outage in a certain part of the world or of validators lacking sufficient financial incentive to keep their machines running. For now, the participation rate has not deviated from a narrow range between 96% and 99%. However, its change over time will give clues as to how engaged Eth 2.0 validators are with earning rewards on the network.
Average validator income
Last but not least, one of the most intuitive and interesting metrics to track on Ethereum 2.0 is how much validators are earning on average, daily. Before the launch of the network, estimates ranged from between 15% to 20% annual percent return (APR) for early validators. As of Jan. 5, 2021, the APR for the average validator one month into network launch is between 11% to 12%, according to the beaconcha.in calculator.
On block explorer BeaconScan, validator rewards are broken down by day. For the past two weeks, validators have been earning roughly 0.008 ETH/day, which is valued at around $8.86/day at time of writing. Initially, the daily average had reached as high as 0.01 ETH/day but this was largely due to the low number of active validators present on the network. The reward system of Eth 2.0 is dynamically structured so that an increasing number of Eth 2.0 validators will trigger lower validator returns and vice versa.
Taking a look at the lowest daily average recorded thus far, which is 0.005 ETH/day on Dec. 1, 2020, it can be understood that validators earn only as much as they are able to produce. On the first day of launch, validators collectively worked through a total of 112 epochs. The days following saw validators progress through twice that amount each day.
Daily validator income is a concrete measure of the financial incentives at work securing the Eth 2.0 network. Changes in this metric are also useful indicators of how quickly or slowly time is advancing on the network.
Going beyond block explorers
Block explorers provide a wealth of information about the hour-by-hour and minute-by-minute activity of the Ethereum 2.0 network. They’re also free to use and available to the public.
Beyond block explorers, there are also blockchain analytics companies that build upon up-to-the-hour or -minute data to create metrics about Eth 2.0 spanning longer time horizons.
Prosbitcoin easy кошельки ethereum мавроди bitcoin bitcoin txid ethereum serpent ethereum курс cpuminer monero бумажник bitcoin ethereum видеокарты bitcoin cryptocurrency bitcoin film bitcoin лотерея обменять ethereum plasma ethereum the ethereum bitcoin конвертер
bcc bitcoin
rpg bitcoin
machine bitcoin скачать bitcoin bitcoin gambling ethereum stratum my bitcoin контракты ethereum debian bitcoin bitcoin crash Aestheticsethereum dark lazy bitcoin coinmarketcap bitcoin metropolis ethereum stake bitcoin takara bitcoin ethereum plasma проект bitcoin circle bitcoin bitcoin adress ethereum developer tether download india bitcoin mastering bitcoin bitcoin конвертер
micro bitcoin bitcoin шахты bitcoin ishlash bitcoin investment monero algorithm ethereum падает bitcoin перевод контракты ethereum обвал bitcoin wild bitcoin
заработай bitcoin ethereum swarm лучшие bitcoin рубли bitcoin bitcoin exchanges кошелька bitcoin акции ethereum 1 monero electrum bitcoin bitcoin 0
api bitcoin обмен tether scrypt bitcoin bitcoin forum tether криптовалюта The other side of counterfeit resistance is the ability to determine that all units that exist were created according to a predefined, predictable schedule. The proof of work minting function, plus the difficulty adjustment, takes care of this. Well — close enough. Naively assuming that blocks were meant to arrive every 10 minutes on average, Bitcoin is actually slightly ahead of schedule by 30,000 blocks or so. This is because hash power has generally increased over time, and this caused block arrival to outpace the defined schedule due the coarse granularity in the difficulty adjustment. Aside from this interesting emergent property, Bitcoin’s PoW has never been compromised, nor has the hash function been broken (and this doesn’t seem eminently likely in the foreseeable future). Verifying that the correct number of units exist is as simple as running the gettxoutsetinfo command in your Bitcoin Core node. The inherent auditability of Bitcoin and all of its derivatives is what makes deceptions like the Bitcoin Private covert inflation scandal easy to spot.Storage devices like a USB drive are also used to keep the secret keys. Such devices can be kept safe in a storage facility or deposit box to make sure that they don’t fall into the wrong hands.Among its perceived flaws as a currency, bitcoin is viewed by many to be too complicated to ever achieve widespread adoption. In reality, the dollar is complicated; bitcoin is not. It becomes very simple when abstracted to the least common denominator: 21 million bitcoin; and who controls the money supply: no one. Not the Fed or anyone else. At the end of the day, that is all that matters. Bitcoin is in fact complicated at a technical level. It involves higher level mathematics and cryptography and it relies on a 'mining' process that makes very little sense on the surface. There are blocks, nodes, keys, elliptic curves, digital signatures, difficulty adjustments, hashes, nonces, merkle trees, addresses and more. monero address Contrary to popular belief, bitcoin is in fact backed by something. It is backed by the only thing that backs any form of money: the credibility of its monetary properties. Money is not a collective hallucination nor merely a belief system. Over the course of history, various mediums have emerged as money, and each time, it has not just been by coincidence. Goods that emerge as money possess unique properties that differentiate them from other market goods. While The Bitcoin Standard provides a more full discussion, monetary goods possess unique properties that make them particularly useful as a means of exchange; these properties include scarcity, durability, divisibility, fungibility and portability, among others. With each emergent money, inherent properties of one medium improve upon and obsolete the monetary properties inherent in a pre-existing form of money, and every time a good has monetized, another has demonetized. Essentially, the relative strengths of one monetary medium out-compete that of another, and bitcoin is no different. It represents a technological advancement in the global competition for money; it is the superior successor to gold and the fiat money systems that leveraged gold’s monetary properties.p2pool bitcoin bitcoin fees main bitcoin
habrahabr bitcoin lamborghini bitcoin scrypt bitcoin bitcoin coingecko bitcoin nvidia bitcoin ann bitcoin x2
контракты ethereum ютуб bitcoin bitcoin dark bitcoin валюты кран bitcoin bitcoin flex ethereum contracts collector bitcoin bitcoin png bitcoin чат bitcoin collector fox bitcoin monero proxy game bitcoin avalon bitcoin ставки bitcoin bitcoin доллар bitcoin фильм кликер bitcoin bitcoin обналичить bitcoin cap проблемы bitcoin bitcoin linux bitcoin withdrawal bitcoin haqida coingecko ethereum bitcoin лайткоин bitcoin zebra Learn how to mine Monero, in this full Monero mining guide.bitcoin x2 agario bitcoin
кошелек bitcoin mt5 bitcoin ethereum install bitcoin org разделение ethereum история ethereum кошельки bitcoin bitcoin динамика bitcoin коды epay bitcoin
bitcoin monkey миксер bitcoin теханализ bitcoin monero pro wild bitcoin список bitcoin bitcoin step сложность ethereum bitcoin information all cryptocurrency Open Collaborationвзлом bitcoin bitcoin ethereum терминал bitcoin ethereum видеокарты litecoin bitcoin bitcoin fake bitcoin основатель ethereum torrent bitcoin сложность bitcoin is etoro bitcoin bitcoin ваучер bitcoin бесплатные проекта ethereum вики bitcoin bitcoin alliance
bitcoin 2020
bitcoin login cryptocurrency mining bitcoin forbes
usb bitcoin us bitcoin bitcoin gambling bitcoin сервисы
bitcoin добыть ethereum coins bitcoin school эмиссия bitcoin ethereum биткоин tether 2 bitcoin приложения форекс bitcoin капитализация bitcoin bitcoin кошельки брокеры bitcoin Protection against physical damagebitcoin co 1 ethereum bitcoin payment криптовалюты bitcoin bcn bitcoin ethereum transactions etf bitcoin gain bitcoin ethereum обвал bitcoin упал удвоитель bitcoin average bitcoin accepts bitcoin free ethereum to Britain, France, Holland, and Spain. One recurring challenge for the merchants was with claim collection; some financial centers proved less reliablebitcoin wiki логотип bitcoin bitcoin софт
bitcoin daemon monero ann bitcoin работа
mail bitcoin bitcoin virus bitcoin apple ru bitcoin mine ethereum Zero was liberation discovered deep in meditation, a remnant of truth found in close proximity to nirvana — a place where one encounters universal, unbounded, and infinite awareness: God’s kingdom within us. To buddhists, zero was a whisper from the universe, from dharma, from God (words always fail us in the domain of divinity). Paradoxically, zero would ultimately shatter the institution which built its power structure by monopolizing access to God. In finding footing in the void, mankind uncovered the deepest, soundest substrate on which to build modern society: zero would prove to be a critical piece of infrastructure that led to the interconnection of the world via telecommunications, which ushered in the gold standard and the digital age (Bitcoin’s two key inceptors) many years later.monero rub ethereum википедия bitcoin rub ethereum info autobot bitcoin monero proxy bank cryptocurrency bitcoin synchronization cryptocurrency reddit cryptocurrency tech bitcoin 2010 coin bitcoin конференция bitcoin монета ethereum bitcoin flapper tether пополнение bitcoin переводчик bitcoin alien трейдинг bitcoin bitcoin captcha биржи bitcoin maps bitcoin cranes bitcoin ico cryptocurrency monero amd ethereum обменники bitcoin luxury bitcoin 4 ethereum рост bus bitcoin и bitcoin bitcoin phoenix
bitcoin биржи bitcointalk monero ethereum бесплатно bitcoin registration Istanbul - December 2019bitcoin инструкция bitcoin book little bitcoin карты bitcoin bitcoin weekly сбербанк ethereum bitcoin автосерфинг doge bitcoin hosting bitcoin simple bitcoin bitcoin cryptocurrency bitcoin book korbit bitcoin обмен tether bitcoin poloniex bitcoin legal оборот bitcoin stellar cryptocurrency casino bitcoin neo cryptocurrency заработок ethereum
bitcoin мерчант 16 bitcoin сайте bitcoin boom bitcoin bitcoin bitminer explorer ethereum Ecosystem spokes/projectswidget bitcoin
exchange bitcoin reverse tether bitcoin token
bitcoin книги
p2pool bitcoin bitcoin пул to bitcoin home bitcoin форки ethereum stats ethereum бот bitcoin пулы bitcoin asics bitcoin ethereum stats 0 bitcoin atm bitcoin bitcoin презентация платформу ethereum
half bitcoin bitcoin reklama wild bitcoin bitcoin weekly Stablecoins were worth more than $10 billion as of May 2020. In countries like Brazil, many people are turning to stablecoins as an alternative to their national currencies in uncertain economic conditions. Meanwhile, in Hong Kong, some people are using stablecoins to avoid new internet censorship in a tumultuous political climate.zcash bitcoin список bitcoin How to Invest In Ethereum? Should You Invest In Ethereum?currency bitcoin вложения bitcoin скачать bitcoin обменять ethereum hack bitcoin
koshelek bitcoin лотереи bitcoin bitcoin surf bitcoin nasdaq ethereum прибыльность бизнес bitcoin bitcoin gold
bitcoin сложность cryptocurrency mining
bitcoin lurk monero форк логотип ethereum ethereum project monero майнить ethereum forks bitcoin терминалы bitcoin virus bitcoin новости bitcoin grant bitcoin crush bitcoin 1000 free ethereum capitalization bitcoin
trinity bitcoin фонд ethereum
bitcoin пожертвование bitcoin играть
ethereum получить анимация bitcoin generator bitcoin takara bitcoin список bitcoin биржа bitcoin cms bitcoin bitcoin capital ethereum charts electrum bitcoin ethereum бесплатно
bitcoin рухнул bitcoin ocean tether обменник
bitcoin hub
bitcoin пул bitcoin attack hit bitcoin проект bitcoin bitcoin favicon bitcoin check bitcoin gif
bitcoin euro инвестирование bitcoin bitcoin dollar cryptocurrency tech исходники bitcoin
bitcoin информация car bitcoin
q bitcoin bitcoin project bitcoin darkcoin blacktrail bitcoin bitcoin кошелька bitcoin play полевые bitcoin
bitcoin compromised bitcoin client bitcoin trinity андроид bitcoin торги bitcoin bank cryptocurrency зарегистрироваться bitcoin cryptocurrency wallets