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Ethereum FAQ

Proof-of-Stake (PoS) is Ethereum’s consensus protocol, adopted in 2022, that helps to process transactions and generate new blocks in a blockchain network. In the context of cryptocurrency, a consensus mechanism like PoS acts as a system to validate entries and ensure the security of the distributed database, also known as a blockchain.

Unlike Proof-of-Work (PoW), which is based on a competitive reward system, PoS operates by randomly selecting validators. These validators have the responsibility of authenticating transactions and confirming the information within blocks. Validators are required to stake 32 ETH on the network to be eligible for selection.

PoS is more energy-efficient, provides a heightened level of security and offers a more efficient framework for implementing scalability solutions – a notable challenge in the PoW model.Learn more about the ETH 2.0 upgrades to see how staking can address your needs and earn you rewards.

Learn more about the ETH 2.0 upgrades to see how staking can address your needs and earn you rewards.

32 ETH (plus a little bit extra for gas fees) as well as a dedicated validator (that BloqStake can provide) is required to start staking on the Ethereum network. Please contact us for spinning up a validator.

If a validator double-signs or becomes offline, staking rewards may be “slashed” as a result of misbehavior. Learn more about ETH slashing and how Bloq’s infrastructure helps to protect your staked tokens from penalties.

Bloq infrastructure is non-custodial and allows you to stake your ETH while retaining control. At no point does Bloq hold your private keys nor will Bloq have access to withdraw the staked ETH.

The staked ETH is held in a smart contract at the protocol level and only the holder of the mnemonic/withdrawal key will be able to access the ETH at a future point in time.

An ETH withdrawal may take anywhere from one to six days for the Ethereum unstake queue to process the request and release the funds back into the validator’s wallet. The time it takes to withdraw staked ETH is dependent on the number of validators attempting to exit.

The process of withdrawal for Ethereum staking validators entails a series of steps and is designed with built-in safety measures to prevent rapid mass exits that could destabilize the network. This is achieved through the application of activation and exit queues that regulate the rate at which validators can join or leave the network. 

Once a validator decides to exit the network, a voluntary exit message is sent out and takes approximately 25 minutes to reach the exit epoch, assuming there are no other validators in the queue.

Following the exit epoch, it takes an additional 27 hours for the validator’s funds to be marked as withdrawable. This does not mean the funds are immediately available, but rather they are in a state where they can be withdrawn.

To stake ETH through the Bloq API, visit the official Bloq documentation to get started.

Learn more about the Ethereum 2.0 network on the official Ethereum site.

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