”Home based "small cost participation in Ethereum pledge"? Take a quick look at this beginner's guide

Source: Bankless

Welcome to Proof of Rights Ethereum, anyone can become a blockchain verifier.

The merger has greatly lowered the threshold for ordinary people to participate in the protection of Ethereum. You don't need to spend thousands (or millions) of dollars on hardware and energy costs, you just need a laptop and some ETH.

Stake From Home,Although the mobile pledge agreement provides a more accessible solution for those who do not meet the 32 ETH threshold, running your own node verifier helps to maintain the decentralization and anti censorship of the network.

At present, you have three main choices:

Each of the above has its advantages and disadvantages. Are you interested in starting and getting some rewards? Here are some ways anyone can become an ETH verifier.

  • Objective:Run an Eth PoS validator

  • skill:Intermediate to Advanced

  • Time required:2-hour research start

  • ROI:4.79% ETH reward is used for DIY verification

We want you to be an ETH verifier

"The services provided by a centralized provider may reduce the overall degree of decentralization of the network, and cause your savings to become less valuable over time. I strongly encourage each participant to pledge in the most decentralized way, even if it means learning new skills to achieve this." – Superphiz, April 2022

Last week, Ethereum completed the transition from PoW mining to PoS pledge.

This means that the consensus process of Ethereum has been virtualized and handed over to ETH holders. Now, the Ethereum network no longer needs to run major physical mining operations to win the PoW block, but is protected by users who hold ETH and use collateral to support rather than cheat the network.

In this transformation, there is a huge expectation that Ethereum can welcome more participants to join in the consensus process through pledge, so as to further decentralize. In fact, running large-scale physical mining for PoW is only feasible for those who can access and master a large number of physical resources.

Therefore,This guide will show you how to participate in ETH pledge as an ordinary Ethereum user, starting with the Plug and Play node solution.

But first, let's briefly introduce the importance of customer diversity!

Why customer diversity is important

The client software determines how the node operates.

When most nodes are running on the same client, the attack may damage the stability of the blockchain network. In short, this explains why it is important to run diverse customers.

Image from clientdiversity.org

After the merger, the Ethereum verifier must run two kinds of clients at the same time: the execution client that handles the Ethereum virtual machine (EVM) and the consensus client that promotes PoS consensus.

As can be seen from the figure above, Ethereum validators have a variety of execution and consensus client combinations to choose from. Importantly, no client or client combination has become too heavy, as in clientdiversity As explained by org:

"Many people know that client diversity is important for a more resilient network, but they don't understand why or how important it is. This is not only important, but also crucial. If 2/3 (66%) of the verifiers use a single client, there is a very real risk, which may lead to chain interruption and money loss for node operators.

It takes 2/3 of the verifiers to reach the final certainty. If a customer with 66%+market share has an error and branches to its own chain, it will be able to complete. Once the bifurcation is completed, the verifier will not be able to return to the real chain without being cut. If 66% of the chain is cut at the same time, the penalty is the entire 32 ETH.

So why is market share>50% still dangerous? If a few customers split, 50%+most customers can get 66%+most. Since no customer has a market share of more than 33%, these situations can be avoided. This is why a market share of<33% is a target for all customers.

The execution customer is not immune. The above risks also apply to consensus customers and executive customers. "

Tips?

When setting up your Ethereum verifier, it is strongly recommended to use a few clients such as Teku and Besu to make Ethereum as elastic as possible, because this will maximize the decentralization of Ethereum.

Now, let's take a closer look at which verifiers are most friendly to ordinary pledgers.

1. Plug and play hardware

In November 2020, Bankless released the ETH verifier operation guide. Guess what? The advice in that article is correct today: Dappnode and AVADO are still top plug and play Eth validator solutions.

Let's do a quick review here!

Dappnode

Difficulty: beginner

Fees:$$$

Dappnode provides hardware+software tools to enable ordinary people to easily run their own blockchain nodes. Therefore, Dappnode's equipment has become a very popular grass-roots solution for running Ethereum authentication nodes.

The advantage of Dappnode devices is that they make it very easy for non-technical users to pledge ETH. You plug in the hardware, and then the system will simply guide you through all the steps required to start your own validator from 0 to 100.

  • You will need: 32 ETH for deposit+generated keystore to securely store your verifier's private key

  • Getting Started Tutorial: Installing the client from scratch using DappNode

  • Native supported clients: Teku, Lighthouse, Prysm (Lodestar and Nimbus will be supported soon)

  • Pricing: The basic Dappnode Home i716 starts at 1562.90 euros each

AVADO

Difficulty: beginner

Cost:$$$

Since it started as a branch of Dappnode in 2018, AVADO has made progress in development and has made every effort to simplify the process of "running your own node" of Ethereum PoS and other blockchains.

Insert the AVADO device and follow the prompts of the initiator. With just a few clicks, you can easily pledge ETH at home!

  • You will need: 32 ETH for deposit

  • Getting Started Tutorial: Setting up the Teku Validator; Setting the Prysm Validator

  • Native supported clients: Teku, Prysm

  • Pricing: The basic AVADO i7 unit starts at $1600 each

2. Use DIY hardware for independent pledge

Difficulty: Intermediate/Advanced

Cost:$

Are you interested in becoming a verifier on Ethereum, but you prefer to reuse existing hardware, such as the recently replaced computer, rather than using Plug and Play nodes?

This approach is certainly more challenging. But you are lucky because there are a lot of resources available to help you easily complete the process of "home pledge"!

However, before you begin, please understand the basic requirements.

According to Superphiz's post on Reddit in April 2022, DIY independent pledgors will need to:

  • Above average technical capability

  • 32 ETH minimum

  • Hardware capable of 24/7 operation

  • At least 10Mbps Internet connection

That is, in addition to meeting these basic requirements, you can also customize your independent pledge settings according to your own preferences.

Whether you want to use the $100 Raspberry Pi 4 or the $1000 Intel NUC, you can.

To get some inspiration, please check out some of the great DIY independent pledge settings we recently saw in the Ethereum community:

image.png

image.png

image.png

If you begin to explore the options of DIY independent pledge more seriously, you should check some community resources, including:

3. Rocket Pool minipool operator

Difficulty: beginner

Fees:$$

Rocket Pool is a decentralized Ethereum pledge agreement.

It is worth noting that the minimum pledge is 0.01 ETH. Rocket Pool allows anyone to pledge any number of ETH by trading any number of ETH they want. rETH is a token pledge derivative of the project, which provides passive income through pledge incentives over time.

The protocol bundles the ETH stored in the above rETH pledge process into many 16 ETHs.

These are the Rocket Pool node operators, which run mini pools.

image.png

As Rocket Pool explained: "The mini pool processes your 16 ETHs, 16 ETHs from the rETH pledge pool, and combines them together, so that it can send 32 ETHs to the beacon chain deposit contract to create a new verifier".

Therefore, this mini pool system has great advantages. It allows you to pledge as low as 17.6 ETH (RPL token of Rocket Pool with 16 ETH+1.6 ETH is used for insurance), and it allows you to obtain RPL reward on the basis of ETH verifier reward, so as to improve your income.

The minipool system is also very powerful, because it is combined with the rETH pledge pool process, so anyone can pledge as low as 0.01 ETH, thus improving the decentralization of Ethereum.

In addition, if you have the ability to pledge independently at home, you have everything you need to operate a small mine pool.

As Superphiz pointed out, "what Rocket Pool small pit operators do is the same as what individual pledgers are doing." "But they can do this with less Ethereum and higher returns."

Therefore, if running mini pools is the way you want, be sure to check the following excellent resources to get started:

Running your own Ethereum verifier is the most influential thing you can do in the Ethereum community.

It helps to protect the Ethereum network itself and ensure that the blockchain continues to operate for global users. In addition, if you use a few clients in this process, you can make Ethereum more flexible. For your services and efforts, according to the current situation, you can obtain nearly 5% APR (annualized rate of return) denominated in ETH mortgage reward.

What are you waiting for to become the "guard knight" on the chain of Ethereum, plus the considerable profits on the chain? Come on!