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Ethereum Validator Count Surpasses 500,000 Ahead of Upcoming Shanghai Hard Fork – Bitcoin News

Ethereum Validator Count Surpasses 500,000 Ahead of Upcoming Shanghai Hard Fork

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According to statistics, the number of Ethereum network validators on the Beacon chain crossed the 500,000 mark on January 12, 2023. The validator milestone comes as Ethereum core developers prepare for the Shanghai hard fork. Five days ago, the Ethereum core developers released a developer network called “devnet 2” for an upcoming update.

Ethereum Developers Launch Devnet 2 Testnet for Upcoming Shanghai Update; The network exceeds 500,000 validators

On January 11, 2023, Ethereum developers launched a new testnet for the Shanghai Update, a hard fork expected to take place in March 2023. The developer’s new testnet is called “devnet 2” because it follows the “devnet 1” version released in 2023. November 2022. The new testnet was briefly discussed at the All Core Devs (ACD) meeting on January 5, 2023.

Ethereum Validator Volume Surpasses 500,000 Ahead of Upcoming Shanghai Hard Fork
Beaconscan.com Ethereum validator statistics for January 15, 2023.

At the time, Ethereum’s core developers emphasized that the focus remains on being vigilant about staked withdrawals. It has been 123 days since The Merge, when the Ethereum blockchain transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network. The transition meant that instead of miners and ASICs verifying transactions, Ethereum validators now handle the verification of onchain transactions at the main layer.

After the launch of Devnet 2, the next day the network passed the milestone of more than 500,000 validators, according to beaconscan.com statistics. In order to become a validator, a person or organization must physically control a validator client on the Beacon Chain and have 32 ethers. As of January 16, 2023, according to ethereum (ETH) exchange rates, the cost of a validator at just 32 Ether would be just over $50,000.

Beaconscan.com reports that as of January 15, 2023, there were approximately 501,215 validators stored on the Ethereum blockchain. On the same day last year, there were approximately 282,249 ETH validators, which means the number has grown by 77.58% over the past 12 months. On The Merge day, there were 428,438 validators, and today the number is 16.99% higher.

Tags in this story

32 ETH Price, ACD, All Core Developers, Beacon Chain, Beacon Chain Validators, beaconscan.com, Blockchain, Dev Environment, Developer Network, devnet 2, Ether, Ethereum, Ethereum (ETH), Main Layer, Milestone, Network, Onchain, Proof of work, Proof of stake, Shanghai hard fork, Statistics, Testnet, Merging, transaction confirmation, Validator milestone, Validators

What do you think of the 500,000 validator milestone on the Ethereum blockchain? Share your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news director of Bitcoin.com News and a financial technology reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols appearing today.




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