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.
ethereum mist bitcoin payeer rigname ethereum
bitcoin кранов
calculator cryptocurrency
cryptocurrency dash bitcoin ставки
bitcoin форум
bitcoin payeer bitcoin forums Over the past three years, the top five cryptocurrencies have varied widelybitcoin презентация ethereum bonus
mine ethereum
india bitcoin крах bitcoin bitcoin simple bitcoin otc bitcoin взлом ethereum регистрация запросы bitcoin рост ethereum 16 bitcoin
exchange cryptocurrency vps bitcoin сайт ethereum компьютер bitcoin create bitcoin 100 bitcoin bitcoin xpub дешевеет bitcoin bitcoin код bitcoin spend bitcoin get bitcoin charts bestchange bitcoin golden bitcoin sec bitcoin bitcoin основы bitcoin investing pool bitcoin bitcoin com теханализ bitcoin
удвоитель bitcoin форк bitcoin
ethereum course ethereum сбербанк minergate monero bitcoin упал ethereum info bitcoin зарегистрировать bitcoin 123 bitcoin ocean bitcoin clicker q bitcoin кредиты bitcoin lazy bitcoin bitcoin click краны ethereum япония bitcoin
dark bitcoin bitcoin token
ethereum хешрейт tether 2 1PGFCtrJHUsc7fs4LGWLmXUEwuKyDaHuRagreenaddress bitcoin monero difficulty bitcoin bazar
bitcoin вложения bitcoin london bitcoin convert bitcoin кошелек captcha bitcoin книга bitcoin bitcoin elena wmz bitcoin monero сложность халява bitcoin ethereum chart bitcoin multiply pools bitcoin bitcoin code bitcoin sell
ethereum вывод bitcoin paw bitcoin таблица bitcoin команды bitcoin scrypt bitcoin purse ethereum com bitcoin окупаемость bitcoin кранов txid bitcoin отследить bitcoin british bitcoin bitcoin суть bitcoin india ethereum decred
карты bitcoin price bitcoin россия bitcoin bitcoin биржи bitcoin switzerland bitcoin оборот monero free nvidia monero bitcoin electrum hacking bitcoin bitcoin de график ethereum love bitcoin bitcoin сигналы адрес ethereum
bitcoin расчет a large number of leaf nodes at the bottom of the tree that contain the underlying databitcoin vizit bitcoin индекс bitcoin accelerator mac bitcoin ethereum windows electrum bitcoin вики bitcoin
home bitcoin bitcoin electrum casinos bitcoin mine monero segwit2x bitcoin оплатить bitcoin ethereum капитализация bitcoin wmx cryptocurrency mining
bitcoin explorer bitcoin github bitcoin ваучер logo ethereum bitcoin конвертер moon bitcoin bitcoin xt bitcoin cap 1080 ethereum loco bitcoin конец bitcoin bitcoin airbit казино ethereum phoenix bitcoin валюта tether tether gps
bitcoin matrix moneypolo bitcoin koshelek bitcoin работа bitcoin ethereum api love bitcoin bitcoin теханализ система bitcoin расчет bitcoin
bitcoin автоматический dwarfpool monero bitcoin generator bitcoin gift bitcoin goldmine bitcoin покупка
bitcoin china bitcoin анимация ethereum перевод сокращение bitcoin bitcoin daily bitcoin clouding monero dwarfpool bitcoin выиграть
bitcoin de bitcoin количество
bitcoin sberbank пулы ethereum space bitcoin bitcoin lion форк bitcoin fork bitcoin anomayzer bitcoin халява bitcoin
обмен tether bitcoin count jax bitcoin контракты ethereum 1080 ethereum bitcoin аналоги bitcoin скрипт
monero обменять machine bitcoin кошелек ethereum bitcoin 20 bitcoin бесплатные win bitcoin
ethereum pow bitcoin порт bitcoin goldman ebay bitcoin account bitcoin bitcoin fees фото bitcoin
testnet bitcoin wiki ethereum bitcoin перевод bitcoin boom bitcoin froggy bitcoin деньги segwit2x bitcoin locate bitcoin ico monero purse bitcoin дешевеет bitcoin bitcoin daily bitcoin китай
bitcoin friday обновление ethereum bitcoin trend bitcoin trading ethereum игра вики bitcoin film bitcoin trade cryptocurrency bitcoin rub bitcoin grafik bitcoin block ethereum geth взлом bitcoin
matrix bitcoin bitcoin оплатить
технология bitcoin
вебмани bitcoin bitcoin block bitcoin maps краны monero майнинга bitcoin bitcoin заработок
ethereum wikipedia bitcoin надежность bitcoin cards капитализация bitcoin эпоха ethereum bitcoin de usa bitcoin cryptocurrency top testnet bitcoin monero прогноз bitcoin bitrix bitcoin hacking amazon bitcoin
bitcoin бесплатные bitcoin картинка верификация tether vector bitcoin tether android bitcoin игры bitcoin ваучер bitcoin apk продать ethereum bitcoin автоматически bitcoin основатель проекта ethereum konvertor bitcoin bitcoin redex asics bitcoin
bitcoin seed local bitcoin js bitcoin micro bitcoin wechat bitcoin bitcoin gift spin bitcoin rx560 monero вывод bitcoin bitcoin mempool bitcoin spinner 4 bitcoin ethereum online bitcoin accelerator bitcoin покупка goldmine bitcoin bitcoin вектор tether кошелек bitcoin calculator foto bitcoin ledger bitcoin monero gui arbitrage bitcoin bitcoin pizza алгоритмы ethereum bitcoin windows mt5 bitcoin purse bitcoin txid bitcoin elena bitcoin bitcoin краны bitcoin conference monero proxy bitcoin bubble проект bitcoin ethereum ротаторы bitcoin change bitcoin motherboard bitcoin usd bitcoin history bitcoin блок There is ongoing research on how to use formal verification to express and prove non-trivial properties. A Microsoft Research report noted that writing solid smart contracts can be extremely difficult in practice, using The DAO hack to illustrate this problem. The report discussed tools that Microsoft had developed for verifying contracts, and noted that a large-scale analysis of published contracts is likely to uncover widespread vulnerabilities. The report also stated that it is possible to verify the equivalence of a Solidity program and the EVM code.This is where many people have justified concerns. Bitcoin requires a high degree of personal responsibility, and so users need to know the basic rules for using Bitcoin safely. The bad news is, if you screw up, you can lose money and never get it back. The good news is, with a few basic pointers and some practice, you can use Bitcoin extremely securely, without fear of loss. Do not get into Bitcoin without understanding these basic concepts:bitcoin монет
The Bank for International Settlements summarized several criticisms of bitcoin in Chapter V of their 2018 annual report. The criticisms include the lack of stability in bitcoin's price, the high energy consumption, high and variable transactions costs, the poor security and fraud at cryptocurrency exchanges, vulnerability to debasement (from forking), and the influence of miners.bitcoin telegram bitcoin nyse bitcoin wallet monero новости сборщик bitcoin cryptocurrency bitcoin bitcoin reddit bitcoin оплата wirex bitcoin bitcoin get bitcoin сегодня партнерка bitcoin протокол bitcoin bitcoin сложность bitcoin online masternode bitcoin bitcoin форекс monero usd forum ethereum bitcoin otc bitcoin lurk tabtrader bitcoin bitcoin demo ccminer monero mempool bitcoin playstation bitcoin новости bitcoin ethereum scan ethereum investing monero spelunker explorer ethereum bitcoin аналитика bitcoin монеты bitcoin paw nonce bitcoin
bitcoin вконтакте bot bitcoin bitcoin 3 matteo monero code bitcoin разделение ethereum ethereum swarm ebay bitcoin новый bitcoin ethereum investing space bitcoin bitcoin блок
падение ethereum bitcoin development bitcoin бесплатные bitcoin экспресс nonce bitcoin ropsten ethereum byzantium ethereum ethereum gold bitcoin вконтакте
bitcoin лохотрон вход bitcoin ethereum supernova bitcoin instaforex токен ethereum
bitcoin автоматически monero ico bitcoin hyip trade cryptocurrency
monero hardware bitcoin phoenix майнер monero bitcoin виджет
bitcoin transactions bitcoin traffic At the current time, I view Bitcoin as an asymmetric bet for a small part of a diversified portfolio, based on a) Bitcoin’s demonstrated network effect and security, b) where we are in Bitcoin’s programmed halving cycle, and c) the unusual macro backdrop that favors Bitcoin as a potential hedge.bot bitcoin accepts bitcoin bitcoin grant cryptocurrency wallet автомат bitcoin bitcoin reklama bitcoin ebay monero usd bitcoin sell wifi tether claim bitcoin advcash bitcoin bitcoin pro акции ethereum 2018 bitcoin spots cryptocurrency gas ethereum пополнить bitcoin micro bitcoin
bitcoin lottery сложность bitcoin anomayzer bitcoin
registration bitcoin monero форум invest bitcoin master bitcoin bitcoin node monero пул bitcoin monero новости bitcoin lealana bitcoin ethereum habrahabr анонимность bitcoin bitcoin кранов any number that starts with a zero would be below the target, e.g.:Who created it?algorithm ethereum bitcoin падает bitcoin xyz bitcoin help minergate ethereum xbt bitcoin bitcoin coindesk bitcoin billionaire bitcoin 2018 bitcoin nvidia bitcoin эмиссия
ethereum homestead bitcoin location forex bitcoin основатель bitcoin bitcoin magazin usdt tether bitcoin links clame bitcoin ru bitcoin запросы bitcoin bitcoin клиент
cryptocurrency converter cronox bitcoin bitcoin иконка server bitcoin bitcoin коллектор ethereum прибыльность кошельки bitcoin Hard forkbitcoin pools bitcoin testnet cranes bitcoin bitcoin проверить accepts bitcoin bitcoin обменять
dance bitcoin bitcoin analytics captcha bitcoin bitcoin кран reindex bitcoin зарегистрироваться bitcoin
фермы bitcoin coinder bitcoin bitcoin system bitcoin scan ethereum btc price bitcoin сети bitcoin платформы ethereum x2 bitcoin bitcoin взлом ethereum habrahabr пулы bitcoin фонд ethereum