The number of validator nodes operating on the Ethereum network continues to rise
As shared by a top Ethereum Developerthe number of validating nodes on the Ethereum network is approaching the 300,000 mark while the amount of ETH staked has exceeded 9.5 million.
Several milestones have been reached ahead of Ethereum’s full transition to proof of stake. The amount of Ethereum staked has been steadily increasing, and it now stands at 9,570,639 ETH.
Since becoming a node validator costs 32 ETH, the number of validating nodes operating on the Ethereum network has grown and continues to do so as new nodes are added. The total number of validator nodes in the network has now reached 299,085. A validator is a consensus participant of the Ethereum protocol.
In the ongoing transition, the Ethereum Foundation stated in January that the Eth 2.0 branding did not accurately reflect what was going on with the network during its round of updates. It went on to say that “ETH 2.0” and the nomenclature used to distinguish the proof-of-stake chain from the proof-of-work chain may soon be phased out.
Ethereum staking pays double
As recently reported by U.Today, Ethereum staking returns are expected to gradually increase or even double following the integration of the Ethereum mainnet and Beacon Chain. This implies that staking returns may increase from 4.3-5.4% APR to 9-12% APR around June of this year.
Coinbase anticipates an increase in staking yields following the complete merger of the two chains, as rewards will now include fees that are presently paid to miners. The profitability of staking contracts will eventually rise as more rewards are delivered to validators.
Ethereum is currently trading at $2,748 and is up nearly 3% in the past 24 hours, according to data from CoinMarketCap.
