Ethereum announces a new calculator tool to enable users to calculate their rewards from staked Ether, once the network shifts to Ethereum 2.0.
According to the latest reports, EthereumPrice.org has come up with a new UI calculator that will help calculate Ethereum staking rewards, once the network moves to Ethereum 2.0, as scheduled for later this year. It will also help in understanding how much one will be able to earn once the shift happens, simply by staking tokens. Moreover, the latest calculator tool will enable users to adjust a number of network settings, in order to get an idea about the potential reward scenario.
The calculator which is currently in public beta has been developed via an open-source Google Sheet created by Colin Myers at ConsenSys Codefi, and garners data from Brooklyn-based Ethereum incubator ConsenSys.
The Ethereum calculator in the discussion will have the ability to calculate Ether staked in the last 10 years, Ether awarded each year, and cumulative return on investment over time. In the future, users will be able to calculate rewards for any amount of staked Ether, but as of now the public beta version only allows calculation of rewards for 32 staked ETH per user. Users can also choose to view their staked ETH reward equivalent in USD, EUR, GBP, JPY, and others.
Currently, though the tool is being positioned more as an educational device, it hints towards the potential importance of Ether stakes in the upcoming Ethereum 2.0.
The much-awaited Ethereum 2.0 launch will create a shift from the existing Proof of Work concept to the Proof of Stake concept. Apart from this, it will also bring about other improvements like less network complexity, cheaper transactions, and greater transaction throughput. The Ethereum 2.0 network is currently in the testing phase.