Withdrawals #1: Validator credential primer

Transcript

sure so uh I think we should just recap on this validator credential thing uh first so there there are two ways that your validator can be set up now there's um the 0x00 that's the old BLS style and there's the 0x01 which is the new and you just give it an etherdress and this is how the the beacon chain will know where to send your wreath if you've got a 0x01 address it knows to send your wreath to a regular eat account when it gets withdrawn so you're all good you don't need to do anything it will just happen Auto magically if you have the old style 0x00 credentials that the beacon chain started out with um and uh was standard for the first six

months or so then you're going to need to change to the new to the new sort and um you're not going to be alone uh I ran the numbers yesterday there are in round numbers 300 000 validators with old style credentials and two hundred thousand with new style so the majority will need to change um uh credentials and and to do that yeah gone um how do people figure out whether or not they have 0x01 credentials or zero X zero zero credentials uh yeah I'm gonna go to figure that out you can look in your original deposit information if you still have it uh it will be under the withdrawal credential field um however I I expect and Buddha correct

me if I'm wrong but I think you can see this on on Beacon chain right just visit your validator and it'll be uh be there under um under withdrawal credentials somewhere and yeah so on your validator page if you press on the deposit tab um it's hyperlink to your address so if you type if you're with our credential it's hyperlinked to your address [Music] then your order set if not you have to change it would be awesome if you highlighted uh those under withdrawal credentials where it gives the whole hex address if you highlighted the first four digits so that it would be very clear to anybody peeking at it that that's what they're looking for it's already doing that

so what you're looking at is uh as physically did is the first four characters so the the first three will always be zero X zero then you'll either have zero which means old style or you'll have a one which is new style and you're all good um and and there's a process to uh update that and maybe we can we can talk about that in a minute but let's