Key facts:
Geth, one of Ethereum’s most popular clients, will be among the selected teams.
Deposits made to validator nodes are made in advance, but withdrawals are after d
The Ethereum Foundation this week launched an incentive program for client (or node) software developers, aiming to keep the mainnet long-term and with an eye toward Ethereum 2.0. All this through rewards that they will get by operating with validators given away by the foundation.
In a blog post, the Foundation argued that clients, who are essential to the network, have always had a hard time “capturing value” during their work, targeting opportunities adjacent to the mainnet.
Just for that, and to ensure that client teams have a strong incentive, the Ethereum Foundation launched the Client Incentive Program. “This program offers client teams ETH-denominated rewards that are unlocked over time, as long as they continue to build software that meets the performance and security requirements of the core network,” they say.
In detail, each team —9 in total— will receive the equivalent of 144 validators as a prize. In Ethereum 2.0, a validator node [que confirma una transacción] It is enabled with the deposit of 32 ETH. That is to say, that each team will receive the sum of 4,608 ETH to run their node.
“The size of these grants recognizes both the excellent work done over the past few years and the many development challenges that lie ahead,” they say from the Ethereum Foundation.
Regarding the teams, they revealed that they are Besu, Erigon, Go-ethereum (Geth), Faro, Lodestar (with 50% participation), Nethermind, Nimbo, Prysm and Teku.
For the Ethereum Foundation, a diverse set of clients is a key factor for the health and decentralization of the main network, by ensuring that innovation “continues at the base layer of the protocol, that the network is resilient against potential attacks or errors, and that a broad set of participants is engaged in discussing potential changes to the core protocol.”
Geth is among the client teams that will be rewarded by the Ethereum Foundation / Source: Ethereum Foundation.
ETH deposits in advance
They require that the deposits made to the validator node are made in advance, so that the teams can operate immediately. Meanwhile, the withdrawal credentials (or ownership of the funds) will be granted until after the merge (The Merge), for several years.
In fact, they indicate that the first deposit is going to be executed when the Beacon Chain withdrawals are delivered, which is the chain that will run Ethereum 2.0.
“To receive this and subsequent tranches of validator retirement credentials, teams must continue to support their customers, meet performance benchmarks on the core network, and generally contribute to delivering the roadmap of the Ethereum community, as it evolves over time, “they say.
Thus, after passing the merger (or merge) -previous step to ETH 2.0-, and due to the fact that the validators earn transaction fees, “the program will begin to provide a constant source of income to the teams.”
“As grants are awarded, teams are free to do whatever they want with the validators they control, such as continue to bet and win rewards, withdraw and settle, or some combination of the two,” they noted.
Total discretion on incentives
The Foundation also took the opportunity to highlight Geth’s presence on that show, which they described as “unique”, because “they are a team located within the Ethereum Foundation.” However, they caution, Geth’s team, like the other clients listed, “will have complete discretion on how to use these validators, the fees earned, and their deposits in ETH as concessions.”
For them, the structure of this program contributes to the health of the network in the long term and guarantees incentives that favor the creation of safe and effective software. “It was designed to look back and reward teams that have already delivered production-quality software,” they added.
“We hope it will provide a foundation for healthy incentives from top Ethereum contributors. As always, the Ecosystem Support Program is available and eager to fund previous Ethereum innovative implementation efforts, including new client teams, ”they conclude.
ETH 2.0 will be delayed for another year
The Ethereum Network Client Incentive Program is announced when the forecasts for the arrival of Ethereum 2.0 they are one more year late.
As recorded by CriptoNoticias, Vitalik Buterin, co-creator of Ethereum, celebrated the first anniversary of the activation of Beacon Chain with a roadmap that showed some of the progress that this update has achieved so far. However, the post suggests that Ethereum 2.0 is still lagging, postponing its arrival to 2023.
And along the same lines, it was later known that the difficulty bomb, which is a mechanism that literally hinders ether mining, it would be delayed until June 2022.
As reported by this medium, the second most important blockchain by market capitalization would undergo a scheduled update in block 13,773,000.