After months of onerous work from the eth2 analysis workforce, together with Consensys and DeepWork Studio, we’re blissful to announce the discharge of the eth2 validator launchpad (testnet model).
We’re releasing it now so that you could preserve monitor of, and make deposits into, the upcoming Medalla multi-client testnet. However we’ll proceed to fine-tune the interface within the run-up to mainnet launch.
The concept behind the launchpad is to make the method of changing into an eth2 validator as straightforward as doable, with out compromising on safety and training.
In distinction to utilizing a third-party service, operating your individual validator comes with the duty of managing your individual keys. This duty brings with it an inescapable tradeoff between ease-of-use, safety, and training.
Schooling
The primary mission of the launchpad is to assist validators educate themselves about all elements of the method. Above all, we wish to make certain validators know what they’re doing, and why they’re doing it.
The fundamentals
We begin with the fundamentals. Earlier than you even start the sign-up course of, it’s best to perceive what eth2 is, and why validators are essential for eth2 to work correctly.
Timelines and milestones
You also needs to perceive that eth2 will probably be launched in a number of phases.
And the place we presently stand in that timeline.
Rewards
Earlier than deciding whether or not to run a validator, it is vital to have a superb grasp on the quantity of rewards you stand to obtain.
Specifically, it’s best to perceive that rewards usually are not fastened, however dynamic (a perform of the quantity of eth staked within the community).
In plain English, if the overall quantity of ETH staked is low, the annual reward is excessive, however as the overall stake rises, the reward acquired by every validator begins to fall.
As soon as you’re feeling you will have a superb grasp of the above ideas, you are prepared to begin the enroll course of.
The primary half consists of a sequence of assertion pairs — a bit of data adopted by an acknowledgment of the shape “I perceive this piece of data” — that may be broadly divided into three classes: threat, duty, and safety (though there may be some overlap between all three).
Threat and duty
The eth2 community can solely work efficiently if validators perceive their tasks and the dangers concerned.
With respect to threat, we would like you to know what your slashing dangers are, in addition to the inherent dangers concerned with being an early adopter.
With respect to duty, we wish to be sure you perceive that you’ll solely obtain rewards in the event you actively take part in consensus, and that this course of is non-reversible (you will not have the ability to switch your staked ETH out of eth2 till a lot later).
a few examples of assertion pairs
Safety (keys)
In distinction to becoming a member of a staking pool, operating your individual validator comes with the duty of managing your individual keys.
Earlier than we leap into producing keys, we would like you to know what they do, and the way they’re created. Most significantly, it’s best to perceive that your keys are derived from a singular mnemonic, and that you just will not have the ability to withdraw your funds with out entry to this mnemonic.
Key technology
As soon as you’ve got accepted the dangers and tasks, the dapp instructs you on learn how to use a separate command line interface (CLI) app to generate your keys offline.
What does this seem like, in follow?
1. Select most well-liked language
Upon getting into the interactive CLI you will be requested to decide on your most well-liked language
Please select your mnemonic language (czech, chinese_traditional, chinese_simplified, english, spanish, italian, korean) [english]:
2. Kind password to safe keystores & generate mnemonic
You may then be requested to kind a password
Kind the password that secures your validator keystore(s):
Appropriately confirming the password, generates your mnemonic (24 phrases which can be used to generate your personal keys).
3. Write down Mnemonic
Write it down and retailer it safely (you will want it to retrieve your deposit)
That is your seed phrase. Write it down and retailer it safely, it's the ONLY technique to retrieve your deposit.
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Press any key when you will have written down your mnemonic.
4. Generate keys, keystores, and deposit information
Please kind your mnemonic (separated by areas) to substantiate you will have written it down:
As soon as you’ve got confirmed that you’ve written down your mnemonic, you will get your keys:
##### #####
## ##### ##
### ## ####### #########################
## ## ##### ## ##
## ##### ## ##
## ## ## ###
######## ## ####
## ## ### ##### #####
# ## # #####
# # # #####
## ## ##
## ## ##
## ### ## ##
############### ## ##
### ## ##
############################# ##
## ###
####### ################# ###
## ## ## ## ## ###
############## #############
Creating your keys.
Saving your keystore(s).
Creating your deposit(s).
Verifying your keystore(s).
Verifying your deposit(s).
Success!
Your keys may be discovered at: <YOUR_FOLDER_PATH>
That is it!
Transactions
As soon as you’ve got safely generated your keys, we information you thru the way you to add your public keys on-line, the place they may then be verified and despatched off to the deposit contract.
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We confirm that the information you are importing is legitimate.
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Double verify that you just perceive an important issues.
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After which enable you ship off these transactions.
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And voila! That is all there may be to it. You’ve got successfuly deposited and dedicated to changing into a validator on eth2!
Now that you’ve got made your deposit, the subsequent step is to decide on your shopper (the software program you will use to arrange your Beacon Node, import your keystores, and run your Validator).
It appears to be like like they will be no fewer than 4 shoppers operating at genesis — Lighthouse, Nimbus, Prysm, and Teku. Though the shopper groups will not have Medalla particular documentation prepared till nearer to August 4th, now might be a superb time to begin doing analysis on which shopper (or shoppers) you wish to check out. Take a look at their docs, mess around with their native testnets, and do not hesitate to get in contact immediately with the groups (discord might be the place to go).
The Launchpad has been an vital venture for us as one thing that may create a welcoming and academic expertise for beacon chain and eth2 onboarding. Nonetheless, we count on different nice interfaces to come back on-line over time from shopper operators and main groups, and we hope that you’re going to attempt their releases when the time comes too.
We hope you loved this easy walkthrough. We will not wait so that you can use the launchpad to make your Medalla testnet deposits 
Particular because of each Consensys and DeepWork Studio 
P.S. If you would like a fundamental overview of what it means to be a validator in eth2, together with clear descriptions of the tasks concerned, you could be enthusiastic about trying out our FAQ.
P.P.S If you happen to come throughout any points with the launchpad, please do not hesitate to report them right here.
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