Casper FFG, the Friendly Finality Gadget has made some brilliant break-through changes in terms of additional security. It helps to verify the Proof Of Work [POW], if not replace it. Casper FFG hires nodes that become validators of the network. So, the power to earn ETH lies with the validators as it promises better coordination for the future development of Casper. Chief FFG developer, Danny Ryan stated that v0.1.0 will assist developers and researchers with “more clearly tagging releases to help a client, while also helping external auditors more easily track the contract and changes.”
The five steps to follow in order to become a Casper Validator are:
Step 1: Choose your Validation Code
Vitalik Buterin, the CEO of Ethereum is trying to keep Casper code really simple so that the Ethereum protocol has no inherent build-in security assumptions other than information theory and hash algorithms. There won’t be any public key, so you can use a specific piece of code that will be used to verify any signatures that are signed. This piece of code will ensure that the stakeholder is acting in good faith. This technicality of usage will be readily available online.
Step 2: Choose your Withdrawal Address
This is where your staked Ether goes when you have completed validating. This will ensure where your stake is sent once verified.
Step 3: Include your Deposit
“Your deposit transaction will be included in the Ethereum blockchain”
A bare minimum of 1,500 ETH can be staked, which will take about 45 minutes of your time as the EVM needs to verify other transactions. After that, your identity code will be written on the platform. The next step is to stay online and work your way through Casper.
Step 4: Remain Online
The FFG agreement is divided into time periods called “Epochs” which consist of 50 blocks that can be generated in about 20 minutes in the Ethereum blockchain. As a validator, you can only send one transaction or a ‘vote’ of Ether that allows your node to start a new epoch. Buterin says:
“Keep your node online, keep your node running. Welcome to being a Casper validator.”
Step 5: Logging Out
Next, you need to log out if you wish to end your actions with the network. It will take about a week to write you out of the blocks. To reclaim your staked Ether you will have to wait for four more months, that is how you will know that your Ether remains unsettled.
Published at Sat, 12 May 2018 05:30:26 +0000