Are you wondering how to create and fund a validator on Beacon Chain? If yes, then fasten your seat belts and take a ride with us in the further sections of this write-up.
In our further content, we will cover an easy instruction guide that will help you to become a validator by creating and funding the validator’s keys.
Pre-requirements to become a validator:
We have mentioned below some pre-requirements for becoming a validator on Beacon Chain.
- Must have Windows / Linux / mac OS.
- A web3 wallet like MetaMask, Wallet Connect, and more.
- Have at least 32 ETH (Ethereum) available in your wallet.
- Download the official “Eth 2.0 deposit cli” in order to create your validator keys.
Once you complete all of these requirements, first you need to create validator keys, then fund the validator with 32 ETH each.
Procedure to create validator key:
Follow these simple steps to create validator keys for becoming validator on Beacon Chain within a few clicks on your OS,
- In the initial step, download the official "ETH 2.0 deposit cli" on your preferred OS and then open the terminal window.
- Double-click on deposit.exe in order to add the command. In this step, you need to add “new-mnemonic --num_validators 2 --chain mainnet”.
Note: We are creating 2 validators as an example so you can adjust “2” in the previous step according to your own needs”.
- Enter the language “English”.
- Set a password according to your choice. For example, if you want to set “121212” as your password, then type password121212. This will be used to import and decrypt your validator's keys.
- Now, you can see a Mnemonic phrase on your screen. Then, copy the phrase or note it down on a blank paper and keep it in a secure place.
- Press Enter after noting down the Mnemonic phrase.
- Now, you have to verify your phrase by pasting it or typing it in same order as it was shown in step 4 and then again press Enter.
- Now you will be able to see your 2 validator keys, located at the end of the entire process.
Once you followed all of the steps, you will get the following files,
- Deposit_data.jason that will be used to fund the validators, each with 32 ETH.
- Keystore-m.json (per validator), an encrypted version of the validator key that can be decrypted by using the password that you have chosen in step 4.
Procedure to fund the validator:
Follow these simple steps to fund or become a validator on Beacon Chain,
- Go ahead to the official Ethereum 2.0 Launchpad and hit on “Become a validator”.
- Navigate through the advisory process by clicking on “Continue” and then on “I accept” (several times).
- Now you will be prompted to select an ETH 1 and ETH 2 client and then click on “Continue”.
- Select the number of validators that you would like to run and then hit on “Continue”.
- Upload the deposit_data.jason file and connect MetaMask Wallet to fund the validators.
- In the final, you just need to deposit 32 ETH to a single validator and then wait for at least 30 minutes before trying to resubmit the transaction.
After completing the last step, the deposit will appear on a Beacon Chain explorer (beaconcha.in) in a few minutes.
Bottom Line:
Overall, that’s how you can create and fund a validator key on Beacon Chain within a couple of steps. And if you face any difficulty while creating and funding it, then review the instructions mentioned by us in the above sections of this write-up.
