Four months after Ethereum’s successful transition to the Proof-of-Stake (PoS) algorithm, another important milestone for the network has been passed. chain stack contract.
This value represents 13.28% of the cryptocurrency’s total volume, or about $22.38 billion at current prices. This event occurred almost two years after the steaming hot smart contract launched in 2020 and the first introduction of proof-of-ownership beacon chains.
All invested funds are frozen within the network and interest is paid. However, they cannot be withdrawn until the network is modernized in Shanghai, scheduled for March 2023. But it has also increased pressure on the network’s core developers to ensure that withdrawals run smoothly.
According to Nansen data, the number of unique participants who placed bets was about 92, 500; according to BeaconScan, the number of active validators on the network was 498, 000.
In theory, the maximum amount of ETH deposited should make it more difficult for individual contributors to sabotage the Ethereum chain. However, most of the ETH in circulation is currently held by a group of large holders. This has raised concerns in the virtual currency community that control of the network could be centralized.
Of the 1, 6 million ETH zapped, approximately 4.65 million coins were distributed through the Lido protocol, a community-run validation collective; Lido, Coinbase, Kraken, and Binance are the top four Ethereum validators, and the 55.88% of all ETH frozen in smart contracts was checked. Unable to download all results.