Ethereum 2.0 testnet is now yielding its first staking returns

Ethereum 2.0 testnet is now yielding its first staking returns

The migration from proof-of-stake for Ethereum is one of the most highly anticipated events in the crypto industry this year. That move is another step closer now that the first staking returns are being seen.

Last month, Micky News reported on the genesis block being mined on the Topaz test network of the Ethereum 2.0 blockchain.

Topaz has been operating on validators using the full 32 ETH, which will be the minimum staking requirement for the Beacon Chain, phase 0 of the migration to PoS.

Over the weekend, Ethereum founder Vitalik Buterin commented that the first staking rewards are starting to be paid out.

“We just saw the first lucky validator get to >1% returns staking on the Topaz testnet. Should see more cross the barrier soon!”

This is a huge milestone for the platform and another step closer to the move away from proof-of-stake validation.

Unfortunately, Ethereum prices did not reflect the achievement as they fell in line with a general crypto market correction.

ETH has returned to the psychological US$200 billion [AU$311.96 billion]  support zone with a slump of eight percent over the weekend. The pullback has been largely expected as markets have made solid gains over the past month.

Further developments on ETH 2.0 this year are expected to boost prices much higher than current levels.

Image courtesy of Moose Photos/Pexels

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