Decentralization Post Merge

    Introduction

    What is the Ethereum 2.0 Beacon Chain?

    The beacon chain, which is sometimes referred to as a coordination layer for Ethereum 2.0, is a central element of the ETH 2.0 architecture. Specifically, the Beacon Chain contains the core functionality that will constitute Ethereum 2.0’s Proof-of-Stake blockchain. As such, the Beacon Chain can be regarded as the beating heart of the upcoming Ethereum 2.0 network and is what will coordinate the actors using it.

    Consequently, the Beacon Chain is primarily in charge of managing this proof-of-stake protocol, as well as all of the shard chains – which will be added at a later stage in the development of the Ethereum 2.0 system. We will go over all the details of Ethereum 2.0 shard chains, ETH 2.0 staking and much more in this article. Nevertheless, it is worth going through the various tasks that the Beacon Chain will have to handle.

    The Beacon Chain will handle validators and their respective stakes, nominate block proposers for shards, sort validators into block proposal voting committees, enact consensus rules, manage validator rewards and penalties, and much, much more. For example, the Beacon Chain will also act as the anchor point for shard chains in the future. This highlights the central role the Beacon Chain will play in Eth2, or Ethereum 2.0’s, future.

    Nevertheless, it is important to note that the launch of the Beacon Chain does not fundamentally change anything for the Ethereum network most people use today. Additionally, the Beacon Chain is currently missing some of Ethereum’s fundamental functionality. For example, it currently does not manage smart contracts or accounts. Nevertheless, the introduction of the Beacon Chain is a crucial step towards eventually realizing a scalable, secure and stable release of Eth2.

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    Diposits and Validators

    Methodology

    In this dashboard, using the ethereum.beacon_chain.fact_deposits table, we check the status of the ETH deposit and stake in the beacon chain.

    And we will check criteria such as the number and amount of deposits, number of validators, etc

    Then we will go to the ethereum.beacon_chain.fact_blocks table and compare the number of slashed and unslashed blocks.

    And finally, using the ethereum.beacon_chain.fact_attestations table, we calculate the daily and total number of attestations

    In this section, you can see the daily amount of ETH deposited and the 7-day average movement

    Like the number of deposits, the amount of deposits also reached its daily high on September 23, when more than 55.5K ETH were deposited on this day.

    and the lowest amount of daily deposit was on October 9 with 10.5K deposit in this day.

    In general, the total amount of deposit after the Merge update is 1.15M ETH and 1.6B USD in terms of USD value.

    Distribution of ETH Deposited

    The charts above show the daily and total number of deposits, validators and slots.

    on September 23 and 26, the number of all three increased

    and on the 9th of October, the number of all three metrics we analyzed reached the lowest level after Merge update

    In general, from the beginning of Merge update until now, total number of deposits is 38.5K deposits, Total number of unique validators is 36K validators, and the number of slots is 2.5K slots.

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    In this section, we have categorized the number and amount of deposits as well as the number of validators based on the size and amount of the deposit in general and daily to see what is the most common amount of deposits

    As it is known, the largest deposit amount was 32 ETH and their total amount is more than 1M ETH

    Also 16 ETH amount is in second place with a total amount of 71K ETH, and other amounts are case by case.

    In the daily charts, you can see that with the passage of time, the number and amount of the deposit and the number of validators who deposit the amount of 16 ETH have decreased, and the amount of 32 ETH has been the most common amount of deposit until now, which is about 93% of the total amount of the deposit.

    Conclusions and Findings

    on September 23 and 26, the number of all three increased

    and on the 9th of October, the number of all three metrics we analyzed reached the lowest level after Merge update

    In general, from the beginning of Merge update until now, total number of deposits is 38.5K deposits, Total number of unique validators is 36K validators, and the number of slots is 2.5K slots.

    Like the number of deposits, the amount of deposits also reached its daily high on September 23, when more than 55.5K ETH were deposited on this day.

    and the lowest amount of daily deposit was on October 9 with 10.5K deposit in this day.

    In general, the total amount of deposit after the Merge update is 1.15M ETH and 1.6B USD in terms of USD value.

    average amount of deposit has been growing with a gentle slope since the beginning of Merge, and even the fall in the price of Ethereum in recent days has not affected the average amount of users' deposits.

    According to the chart of the daily total amount of deposit, we realize that the price of Ethereum is affected by the daily amount of deposits.

    So that whenever the total daily amount of deposit has decreased, the price of ethereum has decreased a few days later, and whenever the total amount of daily deposit has increased, the price of ethereum has started to increase a day or two later.

    The average deposit amount of users over time was almost 30 ETH or 42K USD

    largest deposit amount was 32 ETH and their total amount is more than 1M ETH

    Also 16 ETH amount is in second place with a total amount of 71K ETH, and other amounts are case by case.

    In the daily charts, you can see that with the passage of time, the number and amount of the deposit and the number of validators who deposit the amount of 16 ETH have decreased, and the amount of 32 ETH has been the most common amount of deposit until now, which is about 93% of the total amount of the deposit.

    Almost all the blocks created so far have been healthy and without slashes, and in general, out of more than 405K blocks, only 23 blocks have been slashed so far.

    The highest number of slashes was on September 23, when 16 blocks were slashed out of 7151 blocks.

    Also, the total number of attestations has been 44M so far, and on average, between 750K and 800K attestations are made per day.

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    Almost all the blocks created so far have been healthy and without slashes, and in general, out of more than 405K blocks, only 23 blocks have been slashed so far.

    The highest number of slashes was on September 23, when 16 blocks were slashed out of 7151 blocks.

    Also, the total number of attestations has been 44M so far, and on average, between 750K and 800K attestations are made per day.

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    In this section, we want to see if there is a relationship between the daily price of Ethereum and the daily volume of deposits or the average amount of daily deposits.

    As you can see, the average amount of deposit has been growing with a gentle slope since the beginning of Merge, and even the fall in the price of Ethereum in recent days has not affected the average amount of users' deposits.

    According to the chart of the daily total amount of deposit, we realize that the price of Ethereum is affected by the daily amount of deposits.

    So that whenever the total daily amount of deposit has decreased, the price of ethereum has decreased a few days later, and whenever the total amount of daily deposit has increased, the price of ethereum has started to increase a day or two later.

    The average deposit amount of users over time was almost 30 ETH or 42K USD

    Slashed and Unslashed Blocks