Protocol specialist Viktor Bunin has published an initial analysis of the performance of ETH 2.0.
The network is running smoothly, but there is room for improvement. In fact, although the participation rate is very high, between 98% and 99%, in some moments it drops by 3% or more.
In a newly launched network these fluctuations are normal, but still require action to fix any bugs.
In fact, there are suspicions that this problem is related to a client that sometimes has a slow transition period and therefore needs to be optimized.
The expectation is that the bugs that are emerging will be fixed in the coming months.
It is important to keep in mind that Beacon Chain is only the zero phase of the process that will lead to the definitive launch of Ethereum 2.0, so it is still subject to improvements or optimizations.
It is essential that this process is managed in the best possible way, and that field testing is used to identify and solve as many problems as possible.
Among other things, the number of ETH locked on the deposit contract is still increasing, so much so that there is a queue of around 9,000 new validators who have applied to participate in the new network.
At the moment these new validators have to wait about 9 days in the queue before they can join and participate in the network, and if this situation continues in the future, Bunin estimates that by the end of 2021 more than 12 million ETH could be staked, or almost 10% of the entire supply.
In such a scenario, the staking reward rate could be around 5% per year.
In addition, 14 validators have been “slashed”, generally due to an improper configuration of their infrastructure, and this has not generated instability.
ETH 2.0, positive performance for phase zero
As a result, phase zero is proceeding at a fast pace, and since everything seems to have gone as planned so far, it is to be expected that the next steps can also be completed on schedule.
To tell the truth, no precise date has yet been set for the launch of phase 1, but it is estimated that it could take place during the next year. However, the faster the problems that are emerging in phase zero are resolved, the sooner the next phase can be launched.