Becoming an Ethereum validator now requires waiting in a queue for approximately 45 days due to high demand and limited availability. Since Ethereum's transition to a Proof-of-Stake consensus algorithm, validators have replaced miners in securing the network. The process of becoming a validator was expected to be simplified: deposit 32 ETH and run the necessary software. However, the queue for validators has grown significantly.

Currently, there are 92,536 validators waiting to enter the network, causing the delay. It seems that the demand for becoming a validator remains high, with very few validators exiting the queue. Only four validators are currently in the exit queue.

Part of the reason for the extended queue is Celsius Network, a cryptocurrency lender. Celsius has been consistently depositing a significant amount of ETH, around $600 million worth, into the staking contract. This ongoing influx of ETH from Celsius contributes to the queue, with approximately 316K ETH added to the validator enter queue at current prices, as reported by Arkham Intelligence.

#ETH #Ethereum #celsius #validator #dyor

Distributed validator technology (DVT) is a way of running a #validator node on a #blockchains network that spreads out the key management and signing responsibilities across multiple parties. This helps to reduce the risk of a single point of failure and increase the security and resiliency of the network.

In a traditional validator setup, a single node is responsible for managing the validator's private key and signing transactions. This means that if the node is compromised, the attacker could gain control of the validator and potentially steal the staked funds.

DVT addresses this security risk by splitting the validator's private key into multiple shares and distributing them to different nodes. To sign a transaction, a majority of the nodes must agree on the signature. This makes it much more difficult for an attacker to compromise the validator, as they would need to gain access to a majority of the shares.

In addition to security, DVT also offers several other benefits, including:

Increased reliability: If one node goes offline, the other nodes can continue to operate the validator.

Reduced costs: DVT can help to reduce the cost of running a validator, as it is not necessary to have a high-powered machine.

Increased participation: DVT can make it easier for more people to participate in #staking , as they do not need to have their own node.

DVT is a promising technology that has the potential to improve the security, reliability, and accessibility of blockchain networks. As the adoption of blockchain technology continues to grow, DVT is likely to become more widely used.

Here are some examples of DVT projects:

Obol is a DVT protocol that allows anyone to run a validator node with a fraction of the resources required for a traditional setup.

Stakefish is a DVT service that provides a turnkey solution for staking ETH.

ZKValidator is a DVT project that uses zk-SNARKs to provide strong security guarantees.

These are just a few examples of the many DVT projects that are currently being developed. As the technology matures, we can expect to see even more DVT projects emerge in the future.