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Major Ethereum strike services strike big deal

Ethereum Strike Cools Amid Concerns And Upcoming Update

A year ago, the Ethereum (ETH) network made the transition to one Proof of use (POS) system. Energy-intensive calculations are no longer necessary to keep the network running. Instead, Ethereum stakers now validate the transactions.

This was a major milestone for the network, but it also raised some concerns about centralization. Most of the Ethereum staked is in the hands of a relatively small group. To address this issue, at least five major Ethereum stakeholders have come together and made an agreement: each will own less than 22 percent of all staked Ether at any given time.

The Ethereum strikers gather

This beautiful message reports Ethereum developer Superphiz. These are Rocket Pool, StakeWise, Stader Labs, Diva Staking and finally Puffer Finance. It also appears that other prominent Ethereum strikers will also support the plan. Superphiz is very optimistic about the plan.

“This is how our chain will be successful: coordination instead of zeal. Cooperative instead of ‘winner takes all’.”

According to the Ethereum developer. There is also a reason why the specific percentage of 22 percent was chosen. 66 percent of all validators have to agree on the state of the network. If each validator owns less than 22 percent of all Ethereum stakes, that means it takes at least four big companies to win.

Lido Finance chooses itself

But with this plan, the centralization problem of Ethereum is far from solved. The largest Ethereum stakeholder, Lido Finance, is not part of the plan. Lido currently represents over 32 percent of all Ethereum bets. In a round of voting At Lido in June a convincing decision was made not to impose self-restraint. The second largest validator is Coinbase with 8.7 percent.

Some call Lido’s attitude “dirty and selfish”. Others point out that it’s a logical decision for a company in Lido’s position. “Everyone makes an economic and rational decision for themselves” said one proponent from the Lido.

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