The Beacon Chain upgrade brings proof-of-stake consensus to Script.
For this, we need active participants - known as validators - to propose,
verify, and vouch for the validity of blocks. In exchange, honest validators receive
Importantly, as a validator you'll need to post SCPT as collateral - in
other words, have some funds at stake. The only way to become a validator is to make a
one-way SCPT transaction to the deposit contract on the current Script chain.
To become a validator on the Beacon Chain, you need to deposit 32 ETH
per validator that you wish to run.
This is a non-reversible transaction.
Withdrawing your deposit won't be possible until mainnet merges with the
Using the terminal.
To become a validator, you will need to be able to run commands in
the terminal on your computer. Generating your new Eth2 key pairs and installing the
validator software are both done in the terminal.
You'll only get your full rewards if your validator is online and up
to date. This is your responsibility. If your validator goes offline you'll be
penalized. The penalties for being offline are roughly equal to the rewards for actively
Bad validator behaviour
If you try to cheat the system, or act contrary to the specification,
you will be liable to incur a penalty, known as slashing. Running your validator keys
simultaneously on two or more machines will result in slashing.
To become a validator you'll need to know about managing keys and
protecting a mnemonic. If you are not yet familiar with keys and mnemomics, please do
not proceed. Note that during this process you will not derive the keys needed to
withdraw later, so store your mnemonic safely in order to be able to withdraw later.
We'll help you create a signing key for every validator you want to run.
Because there are no withdrawals until The Merge, you will not create your withdrawal
keys now. When it is possible to withdraw your funds, you can derive your withdrawal
keys from your mnemonic.
Your mnemonic is the backup for your signing keys and will be the ONLY way
to withdraw your ETH when the time comes and no one can help you recover your mnemonic
if you lose it.
Validating is a long-term commitment
Transfers between validators aren't possible yet. You will have to
wait until mainnet merges with the Beacon Chain (around two years) before you can
withdraw or transfer your ETH.
With transfers disabled for now, you won't be able to voluntarily exit and
then restart later. This means you need to be in it for the long haul.
Early adoption risks
You're joining a network in its early stages. As with any new piece
of software, there is the potential for software bugs. While unlikely, potential bugs
may result in slashing.
Please review the staking checklist prior to proceeding. Use this as
a guide to check off tasks as you complete validator setup.
I have read and agree to the Launchpad terms of service.