Since the launch of Ethereum’s Beacon Chain on December 1, 2020, only 226 out of 524,060 validators have been slashed, according to a major developer. If a validator does not follow the rules, slashing is the way to punish them. Slashing means that part of the validator’s stake is lost.
Only 0.04% slashed
Ethereum core developer “Superphiz” mainly wants to indicate that the chance of slashing is extremely low on Ethereum. It can happen, but so far only 0.04 percent of all strikers have gotten into trouble. With this, he suggests that at least people should not worry about slashing when thinking about staking.
“226 of the 523,000 validators on the Beacon Chain have been slashed. That’s not a percentage to lose sleep over. Many slashings happened because of a failed system migration,” said Superphiz, who then also shares four ways to prevent the latter.
Those ways will make you lose a few cents in staking revenue, but avoid losing 1 Ethereum (currently $1,688) to slashing. At the moment, a slashing costs about 1 Ethereum. While Superphiz’s solutions are so arranged.
Especially service providers
What also strikes Superphiz is that it is mainly service providers that get into trouble and are slashed. Of the 226 slashings, 150 involved service providers, which are parties such as Coinbase, Kraken and Binance that arrange the staking process for their customers.
The largest slashing to date took place on February 4, 2021. At that time, infrastructure provider “Staked” was slammed for 75 validators for producing conflicting blocks.
According to Staked the problems occurred due to a “technical problem.” On the one hand, it is good that there are fines for this, but on the other hand, it also feels hard to lose 1 Ethereum due to a technical problem.