Ethereum reaches 1M validators, community thinks it’s ‘too much’

that the network achieved a validator count of one million, with the 32 million ETH staked accounting for 26% of the total supply.

The data also showed that around 30% of the ETH is staked using the Ethereum staking pool Lido, a liquid staking platform forof a blockchain by monitoring the network for any malicious transactions, such as double-spending, which is essentially spending the same currencies twice. In Ethereum, validators participate in proposing and validating transactions within the network. Those who wish to participate in this process are required to stake 32 ETH. In return, they get a small portion of ETH as a reward.

While the number of validators could translate into higher security for a blockchain, some community members think too many validators could pose a problem.Venture investor and Ethereum advocate Evan Van Ness said there’s arguably already “too much” staked. Gabriel Weide, who runs a staking pool, believes that too many validators can eventually lead to “failed transactions.”that while the number of validators is “impressive,” it’s “artificially inflated by the 32 ETH cap.

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