One thing I learned today:
Using Token Terminal has probably been one of my favorite tools as of late. I was curious to see the amount of staked ETH currently on the network. And to be honest this chart is quite concerning. The Lido liquid staking pool has taken a large market share of the liquid staking industry which exposes ETH to centralization threats. The validators the Lido runs now have large control over transactions in the network.
How can we solve this?
I think the use of Distributed validator technology is a necessary EIP that needs continued research and eventual implementation. DVT is apart of Ethereum Foundation’s roadmap, however it is still in its research stage. Distributed validator technology would divide validating duties across multiple entities, users, etc. For example could be 5 trusted entities, or open game for any user to be a light node.
I remember Vitalik mentioned sometime in the past that he saw a world where your phone could be a validator. Meaning, you’d run a light client from your phone. This would be pure decentralization where users around the world are ultimately playing a role in securing the global network and earning from fees and activity. Meaning, no pools, no crypto wallets, none of that extra step, just pure ownership of the digital realm. Now that is what I’m in for.
Affirmations:
I will run the 2024 NYC marathon under 4:00:00 and exceed my fundraising goal
I will grow my blog by 10% every month using web3 tools
Gratitude:
Grateful for the rain to be gone, going to finally enjoy an outside run
Miracle Morning:
Read: no
Meditate: no
Make my bed: yes
Affirmations: yes
gratitude: yes
Workout: yes (run and lift)
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