Crypto News – Over a million validators are currently operating on the 13.900 nodes that power the Ethereum network.
1 Million Validators on 13.900 Nodes: 26% of Ethereum Supply Staked
For nodes to be able to stake more ether on the network, there must be an increase in validators. With the current value of ether at over $114 billion, these validators are staking over 32 million of it. The Block’s Data Dashboard indicates that this makes up about 26% of the entire supply.
According to The Block’s Data Dashboard, staker revenue for Ethereum has reached record highs on both a daily and monthly basis.
Number of Validators Expected to Decline by the End of 2024
In the Ethereum community, there are those who disagree that there is a benefit to having more validators and staked ether. It might be argued that there is already too much staked, according to a social media post made by Evan Van Ness, the former chief decentralization officer of the Ethereum Foundation.
The number is impressive but artificially inflated by the 32 ETH cap. That will change soon though.
Coinbase Wallet creator Peter Kim
When Kim mentioned the impending Pectra upgrade, he meant that it would allow validators to stake up to 2,048 ether at a time. With fewer validators, a significantly larger amount of ether will be able to be staked. The number of validators will probably decline as a result of this, which is anticipated by the end of 2024.
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