Solomon Odunayo 
As a report has it, Ethereum 2.0 validators belonging to Staked.us were hit with a $30,000 penalty for double voting on the network accidentally.
On 2nd February 2021, at least 75 nodes were notably penalized on the ETH 2.0 network. According to the data from the website dedicated to tracking the ETH 2.0 mainnet, BeaconCha.in, all nodes involved were slashed one after the other within minutes.
Read Also: Vitalik Buterin: 1% of Ethereum (ETH) Total Supply Is Now Locked In Deposit Contract
In Ethereum, slashing is the process of punishing nodes for performing malicious actions. In this regard, the slashing was initiated by either double voting or running the staking software on two computers concurrently.
Slashed Validators Belong To Staked.us
According to the report, the validators affected by the major slash belong to the Ethereum 2.0 staking service provider, Staked.us.
In a recent blog post, Staked.us admitted the misdeed that led to the penalty:
“Staked chased technical performance over double-signing robustness and that’s not a good trade off. No customers were harmed in this interaction but it was an expensive lesson for Staked and we are sharing our learnings in case they help others.”
Read Also: Ethereum 2.0 Phase 0 Is Finally Launched Successfully As PoW Difficulty Hit All-Time High
Explaining what really went wrong, Staked.us wrote:
“We made the mistake of chasing attestation performance at the expense of reliability in attestation. Even though we have an internal mantra to always choose robustness over downtime, we still went awry.
“ETH2 has led to a new set of performance criteria. The block explorers all publish attestation rate (the percentage of time you successfully sign blocks when you are scheduled to do so). This impacts customer revenue, so we’ve been very focused our customers earn the highest yields.”
Read Also: Ethereum (ETH) Processed Over 1 Million Transactions a Day to Attain 2½ Years’ Record
The incident cost the company about 18 ETH worth $30,000 at current prices. Howbeit, Staked.us has acknowledged that it will fully compensate its customers:
“Staked will reimburse clients for both slashed ETH and lost rewards. We will contact impacted clients with details on how this will happen.”
Follow us on Twitter, Facebook, Telegram, and Download Our Android App.
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.
