In a recent developer's call, Michael Neuder, a researcher from the Ethereum Foundation, presented a proposal to raise the validator balance cap on Ethereum's largest altcoin network. If approved, the current limit of 32 ETH per validator could be increased significantly to 2,048 ETH.
The motivation behind this proposal is to address the growing concern of the increasing number of validators on Ethereum's Proof-of-Stake (PoS) network.
Currently, the 32 ETH limit forces entities to operate multiple validators if they wish to stake beyond the cap and access more staking rewards. Since the implementation of this limit, the number of validators has surged to over half a million, demonstrating a rapid increase since the Merge.
More Rewards
Ethereum World News reports that, Neuder argues that raising the balance limit will lead to greater efficiency on Ethereum by optimizing finality within a single block.
While the current cap promotes decentralization, it also results in entities managing an alarming number of validators, potentially impacting network efficiency.
One significant advantage of Neuder's proposal is that it could unlock higher rewards for Ethereum validators. With the ability to stake more ETH, validators would earn more yield on their staked tokens.
Currently, the 32 ETH limit restricts validators from earning rewards beyond their capped balances. This limitation incurs operational costs for larger node operators who must manage numerous validators to maximize yield generation.
If the balance cap is increased, Neuder suggests implementing an auto-compounding feature that would enable validators to access greater rewards while reducing the number of validators required.
Auto-compounding would allow for the automatic reinvestment of staked yield, optimizing the overall staking experience.
However, it is essential to note that Neuder acknowledges the potential risks associated with this proposal. Developers will thoroughly evaluate its merits alongside other upgrades being considered for the upcoming Deneb and Cancun releases.
Deneb, one of the planned upgrades, focuses on changes to the consensus layer and is expected to incorporate three Ethereum Improvement Proposals (EIPs). EIP 7044 introduces a code change that accepts signed validator exits indefinitely, improving the overall staking experience.
EIP 4788 aims to enhance access to Beacon chain blocks by providing chain state information inside Ethereum Virtual Machines (EVMs). Lastly, EIP 7045 focuses on bolstering security by expanding the attestation slot from a rolling window of one epoch to two epochs.
The proposal to increase the validator balance cap on Ethereum's network highlights the ongoing efforts to optimize efficiency and rewards for validators.
As developers weigh the risks and benefits of this proposal and other potential upgrades, the future of Ethereum's PoS network appears poised for further advancements. [pc]
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