Centralization in Ethereum
Chainlink's Hard Fork Successful, Ethereum ETFs See First Day of No Activity
According to a recent study from Yale and Duke University people, 90% of Ethereum's block production is controlled by 3 entities, despite the network's permissionless nature.
Here is the chart from the paper showing different block builders’ market share:
2 years ago, Ethereum developers created a build market mechanism via MEV-boost auctions to prevent this kind of centralization from MEV, though it appears that hasn't been an effective remedy so far.
Private order flow access now has a high barrier of entry for new block builders (~1.4 ETH), which is high compared to their low initial profit.
Around 88% of MEV-Boost auctions have been competitive, and only 79% were efficient.
Ether's (2.0) centralization isn't just in block production but staking as well. Close to half of total staked ETH is controlled by the top 11 staking providers, with the top 4 having 36% of stETH. Lido alone manages 24%.
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Cardano's Chang Hard Fork Successful
On September 1, 2024, Cardano successfully executed the Chang #1 Hard Fork, marking a transition towards a self-governing, decentralized network. This upgrade introduces an Interim Constitutional Committee for governance oversight during the initial phase, with Stake Pool Operators also playing a crucial role in protocol changes. | Read More
Ethereum 2.0 Deposit Contract Surpasses 50 Million ETH
Nearly half of the total staked ETH is controlled by the top 11 staking providers. The top four providers—Binance, Kraken, Coinbase, and Lido—collectively hold 36% of the total staked ETH. Lido alone manages a substantial 24% of the total staked ETH. | Read More
WazirX Hacker Started Moving Stolen Ether Using Tornado Cash
Following the heist, the hacker moved $6.54 million worth of ETH to two different wallets. This movement of funds has made it more challenging to trace and recover the stolen assets. Additionally, approximately $148 million worth of ETH remains under the hacker's control, further complicating the situation. | Read More
Ethereum ETFs See First Day of No Activity Since Launch
On August 30, Ethereum ETFs experienced no activity, marking the first day without inflows or outflows since the launch of US spot crypto ETFs. This contrasts with Bitcoin ETFs, which saw significant outflows, totaling $479.8 million over four consecutive days. | Read More