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With the upcoming #Ethereum upgrade expected in Q1, named #Pectra, the maximum amount of $ETH staked to a single validator will increase from 32 ETH to 2048 ETH, a 64x increase. The number of active validators on the Ethereum network recently surpassed 1 million, a high number which increases coordination efforts and strain on the network. The change has two main benefits: -It enables stakers to stake any amount above 32 ETH, no longer do you need to stake in multiples of 32 ETH (i.e. I can have a validator with 50 ETH) -It enables large stakers to run fewer validators as they can deploy roughly 8m USD (ETH price of 3800 USD) on a single validator. This will lower cost and operational complexity. Open question remains how slashing will be treated for larger validators. Current penalty is 1/32 which would equal 64 ETH or 240k USD for a 2048 ETH validator, quite a painful potential loss. There are discussions ongoing to lower the potential penalty. Note that the minimum amount to run a validator will remain unchanged at 32 ETH. Good article by Coinbase below with more explanation. If you want to have a look at the validator growth and status yourself a look here: https://lnkd.in/eTMvRkbf #staking https://lnkd.in/eXUUHe3W

Ethereum hard forked (again 🙄 ) - The Deneb upgrade contains a set of improvements to Ethereum's. EIP-7514 brings a tightening to the issuance of ETH by capping the "churn" rate that validators can join the network to eight (8) per epoch. Since ETH issuance is proportional to total ETH staked, limiting the number of validators joining caps the growth rate of newly issued ETH, while also reducing hardware requirements for node operators, helping decentralization. This upgrade comes in tandem with the Deneb execution upgrades to enable Proto-Danksharding (EIP-4844), along with other improvements to the Beacon Chain. Pre-generated signed "voluntary exit messages" no longer expire, thus giving more control to users staking their funds with a third-party node operator. With this signed exit message, stakers can delegate node operation while maintaining the ability to safely exit and withdrawal their funds at any time, without needing to ask permission from anyone.

BLAST L2 UNVEILS ‘BLAST FOUNDATION’ AS TXNS OVERTAKE ETHEREUM - The Paradigm-backed Ethereum layer-2, Blast_L2, today announced the ‘Blast Foundation’ - seemingly the not-for-profit tasked with advancing the project as it enters its next stage of growth. - Though little is yet known about the Foundation, we do know that it will take control of the L2’s social media accounts (prev. run by Arcade Research), website, and governance. - The news comes just two days before the official launch of the $BLAST token itself on June 26th - a date which promises to provide more details about the foundation itself. - June 26th will further see the project announced the 'Blast Vision', which the Foundation will work to manifest - This is likely a roadmap or some equivalent. - After just months of availability, Blast has accrued an incredible $1.785 billion in total-value-locked (TVL), per DefiLlama - a figure that reached as high as $2.3 billion in June. - What’s more, and as highlighted by founder PacmanBlur, Blast even surpassed Ethereum by way of daily transactions on June 20th, clocking an impressive 1,155,534 txns. Image: Blast_L2

EigenLayer introduces the concept of restaking on the Ethereum network, enabling individuals who stake ETH to generate additional rewards. One of our latest articles details our EigenLayer Public Operator, and includes information that restakers need to know. Learn more about our EigenLayer offering: https://lnkd.in/edAQt6cy

Eigen Labs (Eigen Layer) released the perfect recipe for the worst airdrop and everyone is pissed. Here are three things that went wrong: ⚠️1. Linear distribution model ⚠️2. Excluded US users ⚠️3. Tokens non-transferable 1️⃣ Linear Distribution Model The airdrop used a linear distribution model, meaning the amount of EIGEN tokens received was directly proportional to the amount of ETH staked. This heavily favored large staking entities ("whales"), leading to a very concentrated distribution of tokens. 2️⃣ Excluded US Users Eigen Layer made the US feel like they aren’t the center of the universe (jk, jk.. XD). For regulatory reasons, EigenLayer excluded users from the US, Canada, China, and other countries from receiving the airdrop. Also, users who interacted with the platform via a VPN faced similar exclusion. 3️⃣ Tokens Non-Transferable Communication regarding the allocation for "complex DeFi protocols" was also confusing, leading to uncertainty and dissatisfaction among users. The decision to introduce the token while it remained non-transferable until later in the year raised questions about the timing and purpose of the airdrop.

I am pleased to share the latest insights on the significant growth of Layer 2 (L2) network Arbitrum in daily transactions. Recent statistics reveal that Arbitrum has surpassed Ethereum's daily transactions, demonstrating notable growth. Additionally, following Ethereum's Dencun upgrade, other L2 networks such as Optimism have also experienced increased activity. Metrics indicate that as of March 20, 2024, L2 fees for Arbitrum, Optimism, and Starknet have dropped to less than a cent per transfer, post Ethereum's Dencun upgrade on March 13. This decrease has significantly reduced L2 network fees. With transaction costs now below $0.01, it starkly contrasts Ethereum's chain fee of $3.12 for a high-priority transfer. Zksync's transaction fees on March 20 are estimated at $0.02 each. On Tuesday, the daily transaction volume on Arbitrum surpassed confirmed transactions on Ethereum, with 1.714 million transfers compared to Ethereum's 1.378 million on March 19. This increase in Arbitrum's daily transfers has been observed since Ethereum's March 13 upgrade. Arbitrum's surge to 1.714 million transactions on the same day, despite exceeding 5 million transactions on December 16, 2023, marks its highest level in 2024. Notably, Ethereum's daily transactions have seen an increase since February 12, 2024, except for January 14, with March 19 recording a year-high transaction count. Read more about Arbitrum's success in surpassing Ethereum in daily transactions in the full article on CoinNET: [Arbitrum Günlük İşlemlerde Ethereumu Geride Bırakmayı Başardı](https://ift.tt/Fsc4DOg)

EigenLayer introduces the first concept of restaking within the Ethereum network, enabling $ETH stakers to unlock additional rewards. Discover the intricacies of Figment's participation in EigenLayer, the design of our Public Operator, and vital insights for those engaged in restaking in one of our recent articles. Dive into our EigenLayer public offering: https://lnkd.in/eD5sqhMt

Arbitrum is a Layer 2 scaling solution for Ethereum, designed to offer faster and cheaper transactions by moving computation off the main Ethereum chain. Bridging ETH from the Ethereum mainnet to Arbi...

Ethereum May Never Be Fully Deflationary Ethereum’s current network dynamics suggest a shift towards inflationary pressures: 📉 #EIP1559, introduced in August 2021, brought in a mechanism to burn base fees and reduce #ETH supply. However, the dramatic rise in staking activity is now leading to significant emissions through staking rewards. 📊 Current Data: #Ethereum’s total supply stands at approximately 120.2 million ETH, with 34 million ETH staked by validators—nearly 28% of the total supply (or 1/3 of the supply). Of this, almost 6 million ETH is restaked on #EigenLayer, which launched in April 2024. This staking activity contributes to 780,000 ETH being issued annually, which could soon outpace the amount of ETH being burned (currently around 910,000 ETH annually). 🛠️ Network Congestion: Ethereum’s network congestion has been low since EIP-4844, also known as proto-danksharding, was implemented on March 13, 2024. This upgrade has made it cheaper for Layer 2 (#L2) solutions to submit state root updates to Ethereum, shifting much of the activity to L2s, reducing base fees and, consequently, the amount of ETH being burned. 🔥 Since April, the burn rate has decreased while staking rewards have remained consistent, with the staked supply continuing to grow, raising concerns about whether ETH will ever fully become deflationary on an annual basis post-Merge.