the number of ethereum (ETH) Validator reached 500,000ahead of the Shanghai upgrade scheduled for March, according to data from BeaconScan.
Ah validator secure Proof of Stake (PoS) blockchain by validating transactions on the network and securing it double payment erroramong other activities.
To use validator software on Ethereum, you must be able to: stake A sizeable initial investment of 32 ETH is worth around $50,000 at current prices.
The Ethereum blockchain has relied on validators to maintain functionality ever since. It has been executed The merger on September 15, 2022 will bring the network to proof of work (PoW) consensus mechanism.
The validator milestone comes when Ethereum core developers are about to implement the so-called Shanghai update. schedule for some time in March.
After this update, validators will finally be able to withdraw their staked ETH and the rewards earned from their stakes so far.
However, there is a maximum withdrawal amount 43,200 ETH The total amount of staked ETH in existence per day. That total is currently hovering around 16 million ETH. per Etherscan.
It is hoped that this limit will prevent a sudden and massive exodus of validators.
Ethereum validators surge
This is not the only factor driving the number of validators.
popular crypto wallets meta mask recently We launched a new staking featureThis means that users can now stake Ethereum using liquid staking protocols such as Lido and Rocket Pool.
Lido and Rocket Pool only allow users to use less than the 32 Ethereum stake required to participate. In exchange for the deposit, they received a liquid staking derivative token called LSD. This can be used to win additional prizes in DeFi.
In light of these developments, ETH has shown a healthy performance over the past week, rising 18.3%. According to CoinGecko,