Lido Finance – the leading liquid staking protocol on Ethereum – has reached a significant milestone in its development by tapping one million Ethereum validators.Such a large number of validators is expected to improve the security and resilience of the network, making it stronger against potential attacks.
Additionally, it would further decentralize the validation process, thereby reducing the influence of any single entity or group. According to data compiled by Dune Analytics, Lido Finance currently holds the majority 28.5% of staked Ether, followed by Coinbase at 13.6%, with over 27% of the total Ether supply currently being staked.These protocols, like Lido, have seen rapid growth due to their liquidity benefits, allowing users to receive Lido Staked ETH in return for their staked Ether, which can be utilized in other DeFi protocols.
Through Lido and similar platforms, users can pool their assets together, collectively reaching the required threshold and earning staking rewards. In addition to promoting decentralization, it ropes in a broader audience to participate in securing and validating the network.Ethereum Restaking Platform EigenLayer Launches EigenDA to MainnetHow to Stake Polkadot : The Ultimate Guide
AI Will be One of those Areas Where Blockchain has Genuinely Improved: Flare Network’s CEO Hugo Philion One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lido's Ethereum staking market share dips below 30%Increasing competition among ETH staking service providers will play a major role in further decentralizing the staking ecosystem.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Ethereum liquid staking protocol Puffer Finance raises $18M in Series AThe round was led by Brevan Howard Digital and Electric Capital.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »