Due to delays, the Ethereum Merge has seen a surge in stakes on Beacon Chain. Lido Finance has been used by a large portion of the new stakers in the consensus layer.
The project announced in a blog post that 75% of the new stakers to the Beacon chain had used the staking protocol.
As the Ethereum Merge nears, the Beacon Chain’s staking has increased as expected. Lido claims that the blockchain is now protected by more than $35 billion in staked assets. The staking project has contributed a significant share of the total over the last month. This has raised concerns about centralization within the community which Lido acknowledged and noted.
“While this affirms our mission to democratize Ethereum staking, some have expressed concern about the possibility that Lido could become a centralizing force. We are listening to you. Your concerns are valuable for Ethereum as a whole.
Lido announced the adoption of Distributed Validator Technology. This system would group validators into separate committees that attest to blocks and propose new ones.
The goal is to reduce the risk of a validator becoming malicious or underperforming. DVT will allow Lido to pair “untrusted operators” with the majority of trusted operators. This will enable Lido to contribute to decentralization, without posing any threat to Ethereum stakers.
The staking platform also plans to implement a Node Operator Score (NOS). This score is based on various metrics and will be used to distribute stake. This scoring system will allow anyone to join Lido and build up stakes over time.
LDO, the native token of Ethereum, has seen a 257% increase in value from $1.36 on February 21st to $4.86 on February 22nd. This was due to LDO’s connection to Ethereum 2.0. It reached this point in only 10 days.
Ethereum Merge: Delay
Although there has been strong traction, Ethereum Merge will be held a few months later than June. Tim Beiko, Ethereum’s top developer, said that “The Merge,” which was touted as a steppingstone for the blockchain, is now in its final stages. He also stressed that the initiative will take place later than many anticipate.
These dates have also been promoted multiple times previously. Beiko stated previously that he wouldn’t mind if Ethereum 2.0 happened in the fall.
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