Ethereum: Number of PoS Validators Exceeds Milestone Before Shanghai Upgrade

• Number of validators running PoS network exceeded Half a million.
• The price of ETH has fallen 5% in the last 24 hours as the market corrects.

number of validators on ethereum [ETH] According to data from , the Proof-of-Stake network has exceeded 500,000. glass nodeThis milestone comes ahead of the Shanghai network upgrade scheduled for the end of the first quarter of 2023.

There are now over 503,000 active Proof of Stake validators #ethereum beacon chain.

The total number of new or existing validators is limited per day depending on the validator pool size. The current limit is 1575 validators/day.

📊 Live Dashboard: https://t.co/bsdjS0vv0Q pic.twitter.com/lijbqXNMXM

— Glassnode (@glassnode) January 24, 2023

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According to data from on-chain data providers, the number of validators on PoS chains has increased by 76% year-on-year. Since the September 15, 2022 merger, this has increased by about 20%.

State of the PoS network

Anyone wishing to become a validator on the Ethereum PoS network will need to deposit 32 ETH into an Ethereum 2.0 contract. At the time of writing, his total amount of ETH deposited into this contract by validators running the network was 16.23 million ETH according to Glassnode data.

This represents 13% of the current altcoin circulation of 120.53 million ETH. With more validators joining the network, the total amount of ETH deposited into Ethereum 2.0 deposit contracts increased by 78% last year.

Validators on the Ethereum PoS network are grouped into sets of committees and block proponents every 32-slot epoch. Commission validators are responsible for producing a block every 12-second slot.

These validators are automatically organized into a set of committees and block proposers every 32-slot epoch. Commission validators are obligated to produce a block every 12-second slot. However, if the assigned validator is not available, the block will be lost.

FUD overwhelms the market

Data from Glassnode reveals that the number of lost blocks in the PoS network has decreased by 90% from its daily peak of 259 lost blocks on September 6, 2022. Last year, this decreased by 54%.

Additionally, for a PoS network to work optimally, the network should have a high degree of validator participation.according to glass nodea high participation rate indicates a reliable validator node uptime and thus fewer blocks missing and better block space efficiency.

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After a temporary drop in network participation to 97% on December 7, 2022, it has regained its 99% position at the time of writing. This meant that almost all network validators actively participated in the block generation process.

According to data from santimento, a significant surge in alt social dominance was found on-chain. This is followed by a fall in the price of the asset.

The price of ETH has fallen by 5% over the past 24 hours amid a market-wide decline.