Ethereum 2.0 Staking Guide with Prysm and Digital Ocean


How to Stake Ethereum on Goerli Test-Net with Prysm and Digital Ocean

After searching for legit ethereum staking-guides, the best proved to be EatTheBlock’s demonstration via YouTube. Although I attempted several times, I think I finally set-up a test validator as of today (12/22/2020). Please click here for my original github gist if need be- thanks!

Create Directory for prysm

  1. Run the following commands to create a dedicated directory for prysm by running mkdir prysm && cd prysm (eg: eg: ‘/home/alexanderjsingleton/shinebox’).
  2. Download prysm and executables by running the following curl command: curl --output && chmod +x

Configure Beaconchain Parameters with Alchemy

  1. Beaconchain params for goerli test-net ./ beacon-chain --http-web3provider=<YOUR_ETH1_NODE_ENDPOINT> --pyrmont
  2. Configure params for beacon-chain on pyrmont using Alchemy api ./ beacon-chain --http- ./ beacon-chain --http-web3provider= --pyrmont
  3. Please note that I didn’t have any success using the infura params listed below as demonstrated within EatTheBlock’s demo; therefore, I recommend using the alternative, Alchemy API, as denoted: ./ beacon-chain --http-web3provider= --pyrmont

Download Ethereum 2.0 CLI and Generate Deposit Keys

  1. Download the CLI to staging-area (eg home/alexanderjsingleton/shinebox):
  2. Generate deposit-keys by running ./deposit new-mnemonic --num_validators 1 --chain pyrmont
  3. Note wallet password: (eg: boncheer)
  4. Note mnemonic keys on-file- also create a paper back-up:
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Connect metamask wallet

If you don’t know how to set-up a metamask wallet, check out my blog-post or watch this dude’s YouTube video; it is also covered extensively within the official pyrmont launchpad docs.

Import the Validator Keys

  1. Import the validator keys by running the following example command: ./ validator accounts import --keys-dir=$HOME/eth2.0-deposit-cli/validator_keys --pyrmont
    1. For example: ./ validator accounts import --keys-dir=../eth2deposit-cli-ed5a6d3-linux-amd64/validator_keys --pyrmont
  2. Activate Beaconchain
    1. Run the following command (via Alchemy API) ./ beacon-chain --http- ./ beacon-chain --http-web3provider= --pyrmont

Ensure Validator Node is Running

  1. In a separate termina window, activate the beaconchain by running ./ beacon-chain --http- ./ beacon-chain --http-web3provider= --pyrmont
  2. Run the validator node by running the executable within the prysm directory ./ validator --pyrmont

Keep Prysm Updated

According to the official prysm ETH2 docs, all it takes to upgrade to the latest release is to stop your beacon node and validator with ctrl+c (wait for the process to close down gracefully, do not spam ctrl+c). Then, restart it with the same command you used to start the process. The script will automatically downloaded our latest release for you; eg for Goerli test-net ./ validator --pyrmont.


Verify success by checking the corresponding beaconchain URL given after initiatinf the transaction (eg: happy staking!

If you plan to shut down your terminal-sessions logged into the Digital Ocean, you will need to configure your droplet with the necessary parameters- please visit Digital Ocean docs; however, I recommend buying a cheap laptop and running your Eth 2.0 validator node as you would by running a Bitcoin node- as of this post, you will only need a computer with 100 GB of memory and 8 GB of RAM.

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