Find Latest Articles on Crypto, Blockchain and Regulations Worldwide.

[vc_row full_width=”stretch_row_content_no_spaces” css=”.vc_custom_1532150107599{border-bottom-width: 1px !important;padding-bottom: 13px !important;background-color: #fcfeff !important;border-bottom-color: #ebebeb !important;border-bottom-style: solid !important;}”][vc_column css=”.vc_custom_1532150098193{margin-top: -6px !important;}”][vc_column_text]

bitcoinBTC/USD
$ 26,404.07
ethereumETH/USD
$ 1,615.97
tetherUSDT/USD
$ 0.999317
bnbBNB/USD
$ 212.66
xrpXRP/USD
$ 0.496128
usd-coinUSDC/USD
$ 0.999630
staked-etherSTETH/USD
$ 1,615.87
dogecoinDOGE/USD
$ 0.060679
cardanoADA/USD
$ 0.244255
solanaSOL/USD
$ 19.17
tronTRX/USD
$ 0.084532
the-open-networkTON/USD
$ 2.19
polkadotDOT/USD
$ 4.01
matic-networkMATIC/USD
$ 0.508044
litecoinLTC/USD
$ 63.74
bitcoin-cashBCH/USD
$ 236.38
chainlinkLINK/USD
$ 7.73
wrapped-bitcoinWBTC/USD
$ 26,421.08
shiba-inuSHIB/USD
$ 0.000007
daiDAI/USD
$ 0.999397
true-usdTUSD/USD
$ 0.997675
leo-tokenLEO/USD
$ 3.66
uniswapUNI/USD
$ 4.29
avalanche-2AVAX/USD
$ 9.07
stellarXLM/USD
$ 0.112710
moneroXMR/USD
$ 146.76
okbOKB/USD
$ 42.95
binance-usdBUSD/USD
$ 1.00
ethereum-classicETC/USD
$ 15.45
cosmosATOM/USD
$ 7.01
hedera-hashgraphHBAR/USD
$ 0.049606
filecoinFIL/USD
$ 3.23
makerMKR/USD
$ 1,523.35
lido-daoLDO/USD
$ 1.53
internet-computerICP/USD
$ 2.96
crypto-com-chainCRO/USD
$ 0.050047
quant-networkQNT/USD
$ 90.27
aptosAPT/USD
$ 5.32
mantleMNT/USD
$ 0.388149
vechainVET/USD
$ 0.016503
arbitrumARB/USD
$ 0.829218
optimismOP/USD
$ 1.30
nearNEAR/USD
$ 1.08
kaspaKAS/USD
$ 0.047226
rocket-pool-ethRETH/USD
$ 1,755.40
aaveAAVE/USD
$ 61.39
the-graphGRT/USD
$ 0.085513
algorandALGO/USD
$ 0.095936
whitebitWBT/USD
$ 5.22
usddUSDD/USD
$ 0.997309
[/vc_column_text][/vc_column][/vc_row]

Ethereum staking services agree to 22% limit of all validators

0

At least five Ethereum liquid staking providers have either imposed or are working to impose a self-limit rule in which they promise not to own more than 22% of the Ethereum staking market — seen as a move to ensure the Ethereum network remains decentralized.

Among the Ethereum staking providers either already committed or are working to commit to the self-limit rule include Rocket Pool, StakeWise, Stader Labs and Diva Staking, according to Ethereum core developer Superphiz.

Puffer Finance, another liquid staking service, also announced its commitment to the self-limit. 

The proposal presumably aims to address concerns of Ethereum staking becoming increasingly centralized.

As to why the self-limit was proposed at 22%, Superphiz explained that because 66% of validators need to agree on the state of Ethereum, setting the limit below 22% means at least four major entities must collude in order for the chain to reach finalization.

Finality is the point where transactions on a blockchain are considered immutable, supposedly ensuring that transactions within a block cannot be altered.

The idea was proposed by Superphiz in May 2022 when he questioned whether a staking pool would be willing to put the health of the chain before its own profits.

Interestingly, the largest Ethereum liquid staking provider, Lido Finance, voted by a 99.81% majority not to self-limit back in June.

“They have expressed an intention to control the majority of validators on the beacon chain,” Superphiz said in an Aug. 31 post.

Votes casted from Lido (LDO) token holders on the self-limiting proposal. Source: Snapshot

Lido currently dominates the Ethereum staking market, accounting 32.4% of all staked Ether, while the next entity, Coinbase, accounts for only 8.7% of the market, according to data from Dune Analytics.

Ethereum stakers by staking amount and market share, showing that Lido is the only one above the 22% threshold. Source: Dune Analytics

Who’s in the right? Mixed reactions from the Ethereum community

One industry pundit, “Mippo,” explained on Aug. 31 that the self-limit proposal has nothing to do with “Ethereum alignment” — a principle understood to enable credible neutrality and permissionless innovation on Ethereum.

Mippo claimed those trying to push the proposal wouldn’t make way if they were in Lido’s position.

Related: Ethereum is about to get crushed by liquid staking tokens

“Everyone is doing the economically selfish and rational thing here,” Mippo concluded.

“Folks in the ETH community should not shame more user-friendly solutions as greedy products,” said another observer.

However, others were more wary of the potential centralization issues at hand, describing Lido’s market share dominance as “disgusting and selfish.”

Magazine: DeFi Dad, Hall of Flame: Ethereum is ‘woefully undervalued’ but growing more powerful

Source link

Leave A Reply

Your email address will not be published.

Shares