Ethereum 2.0 Beacon Chain’s upgrade will finally be activated on the Pyrmont test network. It will be the first incompatible background upgrade for the software. Several code modifications will be performed as part of the update, with the brand name “Altair.”
These include higher penalties for invalid behavior and enhanced functionality for the smaller versions of Ethereum 2.0.
In a New Frontiers blog post, Alex Svanevik, Nansen CEO, and Nansen’s Research team members have recently dissected the collected data on stake centralization and validator behavior on Ethereum 2.0.
While it is anticipated that Altair would further enhance network dynamics, decentralization and security efforts are already moving in a good way.
The decentralized future of Ethereum 2.0
Nansen is a crypto platform that houses over 90 million Ethereum accounts and digital wallets. The tool also provides tracking and analytics for the blockchain.
Decentralization means that members of a network do not know or trust one another. For example, everyone obtains a verbatim copy of data via a ledger. When this ledger is corrupted or altered in whatever way, the network will reject it.
How decentralized blockchains are can be measured through the Herfindahl–Hirschman Index (HHI). The HHI refers to a metric indicative of competition and market concentration. For its part, Nansen uses HHI for its Ethereum 2.0 tool.
Even when Ethereum 2.0 stakeholders Binance and Kraken continue to be centralized, they are slowly yielding to decentralized staking options such as Canada-based Lido Finance and Rocket Pool.
Though it is obviously not the case, the pattern does suggest a steady decline in HHI over time, although not all bank accounts exist independently of each other.
It is essential to remember that centralization issues exist at every tier of the cryptocurrency platform. People should keep it in mind at all times. Furthermore, Amazon Web Services continue to host 21 percent of Ethereum nodes.
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