Despite a lack of crypto clarity in the US, digital currencies are still gaining momentum
Ethereum (ETH) developers are considering a significant increase in the current limit due to the surge in waiting time and the high demand for activating the Ethereum validator node. The current recommendation is to move the validator limit from 32 ETH to 2,048 – an increase of 6,300%.
Large crypto entities like Lido and crypto exchange staking services are beginning to implement multiple nodes in order to offer staking yield services to their users. As a result, the Ethereum main developers said during a recent discussion that the established limit has forced the Ethereum network’s validator set to be expanded, with an accompanying expansion in the number of active validators.
Mike Neuder, Francesco D’Amato, Aditya Asgaonkar and Justin Drake, core Ethereum developers, suggested expanding the validator limit earlier this month. It became the focal point of last week’s discussion, although there doesn’t appear to be a consensus on how to move forward. Still, their support remains integral to the network’s proper functioning.
Within proof-of-stake blockchains, like Ethereum, these validators work as transaction processors. One of their functions is to help the blockchain’s stability, and they are also responsible for ensuring the overall safety of the networks.
As per statistics, users attempting to run an Ethereum validator node have to wait 44 days, an increase from approximately a month in May. However, exiting the network can be done within minutes, and on Monday, data indicates that there are no enterprises waiting to drop off.
There appears to be a backlog of potential validators are want to join the network and receive an annual return of nearly 5%. The need for such a high demand can stem from individuals with significant amounts of ETH who do not wish to liquidate but desire to obtain cash without relinquishing their holdings.
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