To chronicle Ethereum's transition to proof-of-stake, CoinDesk in 2020 started its own validator, “Zelda.” With staking withdrawals due to start April 12, liqquidity and cryptauxmargaux take stock of the project.
Our responsibility as a validator is to secure the Ethereum network and help it reach consensus by storing data, processing transactions and adding new blocks to the blockchain. We generated income in two ways: attesting to the current state of the blockchain and proposing data blocks when randomly selected to do so. As happens when one runs a validator node, we earned a daily income from the attesting, but the bigger rewards came when we were chosen to propose a block.
“We needed our own Ethereum 1 node, so we needed all the data for that, and for that you would need a 2-4 terabyte, solid-state hard drive, and those can be very expensive,” Beggs said in an interview. We weren’t perfect, of course. For a period of 20 days last year, from Sept. 6 to Sept. 25, the CoinDesk validator stopped attesting, due to a data corruption issue.
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