Staking on Ethereum 2.0 Takes First Step With Test System for Validators

The transition to Ethereum 2.0 and its proof-of-stake consensus model is finally underway.

AccessTimeIconJul 28, 2020 at 8:35 a.m. UTC
Updated Sep 14, 2021 at 9:36 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The transition to Ethereum 2.0 and its proof-of-stake consensus mechanism is finally underway.

  • Announced Monday, Ethereum developers have released a "validator launchpad" on the Medalla testnet to educate and prepare future validators as part of a multi-year, multi-stage roll out of the Ethereum network's most important upgrade to date.
  • Eth 2 will radically transform the world's largest smart contract platform as it shifts from proof-of-work (PoW) to proof-of-stake (PoS).
  • In PoW, miners do the job of validating transactions through complex math solved by computer hardware and then adding them to a data block in a series, or chain, that is cryptographically secured.
  • PoS, on the other hand, lets entities known as validators lock up holdings of a network's cryptocurrency as collateral for the right to validate a transaction without the need for computer hardware. Validators are rewarded based on how much crypto they initially stake.
  • The transition to PoS is aimed to improve Ethereum's scalability issues that arise from its inability to handle a large quantity of transactions under PoW. PoS also expected to be more cost-effective than mining.
  • Three phases of the rollout are planned, with the first, phase 0, focusing on the underlying tech behind staking by tracking validators and their balances.
  • The launchpad, which comes before phase 0, will enable validators to track and deposit test stakes on the upcoming Medalla multi-client testnet.
  • When phase 0 arrives, validators will start securing Eth 2's network with real stakes.
  • Phases 2 and 3 will revolve around adding and storing Eth 2 data and enabling programs to be run on the network, respectively.
  • The legacy Ethereum platform will exist for some time as its own independent PoW chain, but the developers stressed the "transition toward PoS starts now" in Monday's announcement.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.