Ethereum Validator Count Surpasses 500,000 Ahead of Upcoming Shanghai Hard Fork
Ethereum network validators on the Beacon chain exceeded 5,00,000 as of Jan 12, 2023. the validator milestone comes as Ethereum core developers prepare for the Shanghai hard fork.
Ethereum core developers launched a developer network environment called devnet2 for the upcoming upgrade.
The developer's new testing environment is called devnet2 as follows Devnet 1 was released on Nov 2o22 the new Testnet was discussed during the All Core Devs (ACD) meeting held on Jan 5, 2023.
Ethereum core developers explain that the focus remains vigilant on staked withdrawals it has been 123 days since the Merge the point in time when the Ethereum blockchain transitioned from a proof-of-work (PoW) blockchain to a proor-0f-stake (PoS) network the transaction meant that instead of minders and ASIC devices verifiying transactions, Ethereum validators currently handle the verification of onchain transactions on the main layer.
The release of devnet2 the next day the network crossed a milestone with more than 5,00,000 validators.
According to beaconscan.com to become a validator an individual or organization must physically manage a validator client on the Beacon chain and hold 32 ether.
Furthermore, Beaconscan.com express that as of Jan 15, 2023, roughly 501,215 validators were recorded on the Ethereum blockchain on the same day last year there were approx 282,249 ETH validators means the count has increased by 77.58% over the last 12 months on the Merge day, there were 428,438 validators and today the number is 19.99% higher.