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Weekly Wallet Analytics: ETH2 Staking Wallet

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If you want to check what tokens and NFTs are contained in any Ethereum wallet – yours or someone else’s – all you need to do is head to DappRadar’s Portfolio Tracker and input the account’s public key. 

In this episode of Weekly Wallet Analytics, we’re taking a look at ETH Staking Wallet – technically a smart contract – into which people who want to run Eth 2 validators are stalking 32 ETH per validator. 

This is a key element of the move from Ethereum v1.0, which uses a proof-of-work consensus model to Ethereum 2.0’s proof-of-stake consensus. 

In this model, to run a validation node users have to stake 32 ETH (worth over $14,000 at the time of writing) into this deposit contract to demonstrate their commitment to running the new blockchain. 

If they behave well, when the network launches, they will receive rewards for staking. If not, their stake will reduce in size (aka being slashed).

In order for the Ethereum 2.0 mainnet to launch, at least 524,288 ETH needs to be staked. That’s required to run the 16,384 validators needed.

To-date, only 10% of this total has been staked so the project has some ways still to go. 

You can also check out other examples in our Weekly Wallet Analytics section of the blog, including the Nifty Report wallet.

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