Crypto Beginner

Buenos Aires to run Ethereum’s post-merge validator nodes

Buenos Aires

The Ethereum network will have to rely on validators once it migrates to the Proof-of-Stake ecosystem post-merge. Anticipating this, Buenos Aires—an Argentine city with high crypto adoption—has decided to set up validator nodes by 2023.

The development came to light during the recently concluded ETH Latam conference. At the event, Diego Fernandez (Secretary of Innovation and Digital Transformation, Buenos Aires) revealed the capital city’s willingness to become akin to a large computer that runs Ethereum’s core software by 2023.

How will the node deployment happen?

The city’s governing authority has said that it will work closely with the private companies for deploying the required validator nodes. The validator network, once up, will be responsible for lending resilience, security, and additional scalability to the Ethereum network. Each validator will become a part of the new ‘Consensus System.’

To put things in perspective, the Merge is expected to happen anytime between 15 September and 19 September, according to Ethereum’s core developers.

Are other details available yet?

Fernandez refrained from disclosing the exact number of nodes that would be deployed starting in 2023. What we know is that each validator would require 32 Ether for the node to become operational.

However, Buenos Aires’s willingness to lend support to the Ethereum community doesn’t come as a surprise. The city always had a special liking for crypto as it allowed its citizens to remit taxes using VDAs (Virtual Digital Assets) in April. With its decision to deploy validator nodes after the Ethereum merge, the city might just become a massive force, driving blockchain adoption globally.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user’s own risk.

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