Earn 7.9% with ETH 2 Staking by Defi Dad

Back in November 2020, if you were paying attention to the launch of Ethereum 2.0’s “Beacon Chain,” you might have noticed a rallying cry about the need to run an Eth2 validator and support the decentralization of the network. The Beacon Chain itself refers to what will introduce proof-of-stake to Ethereum, which is a move away from the consensus mechanism used by Bitcoin and Ethereum today, proof-of-work. 

This is a new way for one to help keep Ethereum secure. Think of it like a public good, one that is much less energy intensive and will allow you to earn more ETH in the process. Proof-of-stake will involve participants across the world staking ETH in order to activate validator software. As a validator, one will process transactions and create new blocks in the chain.

Staking and becoming a validator is designed to be easier than mining today with proof-of-work. By making staking as a validator easier, the hope is to help make Ethereum more secure in the long run because the more people that participate in the network, the more decentralized and safe from an attack it will become.

Regardless of how altruistic one’s intentions are to build a better, safer, censorship-resistant Ethereum network, there’s thankfully an incentive as a validator--which is to earn ETH. To run a validator it requires some hardware, a dedicated internet connection, and obviously lots of time and effort.

To make staking as a validator even simpler, we have new DeFi projects like Lido, a decentralized infrastructure for issuing stETH tokens that you can use while staking ETH. Today Lido has enabled staking 183,229 ETH ($290,113,247) and is earning with 3657 stakers about 7.9% APR on