Try Quests to earn cryptoDecentralization Post Merge
What is the Question?🚨
Ethereum recently switched to using a Proof-of-stake (PoS) consensus protocol. For more information on this switch, please see The Ethereum Organization.A new schema (`ethereum.beacon_chain`) was just released containing data around the Consensus Layer that can be used to analyze the Beacon Chain. Documentation for these tables can be found here.
Using the beacon_chain schema, analyze the decentralization of the PoS network, as well as slashings of proposers and attesters since the Merge.
Analyzed Topics:
- Blocks
- Deposits
- Attester and Attestations
Introduction🚩
What was Ethereum Merge?
The Merge was the joining of the original execution layer of Ethereum (the Mainnet that has existed since genesis) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminated the need for energy-intensive mining and instead enabled the network to be secured using staked ETH.
What is Decentralization?
In blockchain, decentralization refers to the transfer of control and decision-making from a centralized entity (individual, organization, or group thereof) to a distributed network.
Method⚡
In this dashboard, I am going to use the new Flipside schema ==“Ethereum.Beacon_Chain”== to analyze the decentralization of the PoS network as well as the slashing of proposers and attesters since The Merge update (That Took Place on 15th September).
I filtered today with ==slot_timestamp <= Current_date -1== because today’s data is not complete yet so the data are since the merge (Sep 15th) until Novermber 8th 2022.
Findings👀
- In this section i showed total and daily deposits on beacon chain in different angles.
- A total of 36.6K number of deposits with over 1M ETH Volume has recorded since 15 September (After Merge).
- Over 99% of validators deposited 32 ETH over time.
- Recently after early October number of deposits increased after a dip on Oct 9th and recorded a new peak on Oct 26th with a total number of 1846 deposits.
- As we see, average deposit amount is increasing by the time passes.
- Daily deposit amount also peaked on Oct 26th like number of deposits with 49K ETH and dropped dramatically after that day.
Findings👀
- These charts are showing total and daily number of produced blocks, attestations and total and active validators after merge that happened on Sep 15th.
- We see that number of produced blocks massively increased after merge and ranged around7150 daily blocks. In overall since merge, a total number of 384K blocks produced over time.
- Number of attestations also spiked after merge and didnt changed that much since back then. Over 41M attestations recorded after merge in almost 2 months.
- There were totally 34.1K active validators and their number is increasing day by day over time.
Findings👀
- These charts are showing attester and attestation stats since Merge.
- As we see, over 99% and 395K of attestions were not slashed.
- 148711 has the highest number of attestions over time with 4 attestions.
- 148717 & 148712 & 148710 epochs have the same number of attestions with 3 attestions since Sep 15th.
- As we see, Majority of slashes has happened during the first days of the Merge upgrade (since 15th September till 23rd September), But after this timespan, we can see only 2 Attester slashed on the beacon chain. So, This indicates that the network is becoming more stable and powerful as time goes on since the Merge event.
Conclusion💡
- There were totally 34.1K active validators and their number is increasing day by day over time.
- Number of produced blocks massively increased after merge and ranged around7150 daily blocks. In overall since merge, a total number of 384K blocks produced over time.
- Number of attestations also spiked after merge and didnt changed that much since back then. Over 41M attestations recorded after merge in almost 2 months.
- A total of 36.6K number of deposits with over 1M ETH Volume has recorded since 15 September (After Merge).
- Over 99% of validators deposited 32 ETH over time.
- Average deposit amount is increasing by the time passes.
- As we see, over 99% and 395K of attestions were not slashed.
- 148711 has the highest number of attestions over time with 4 attestions.
- As we see, Majority of slashes has happened during the first days of the Merge upgrade (since 15th September till 23rd September), But after this timespan, we can see only 2 Attester slashed on the beacon chain. So, This indicates that the network is becoming more stable and powerful as time goes on since the Merge event.