According to data from the on-chain data provider, the number of validators on the PoS chain grew by 76% on a year-over-year basis. Since the Merge on 15 September 2022, this has increased by about 20%.Those looking tp become a validator on the Ethereum PoS network need to deposit 32 ETH into the Ethereum 2.0 contract. As of this writing, the total number of ETH deposited into this contract by validators running the network was 16.23 million ETH, per data from Glassnode.
This represented 13% of the altcoin’s current circulating supply of 120.53 million ETH. With more validators joining the network, the total value of ETH deposited into the Ethereum 2.0 deposit contract grew by 78% in the last year.Validators on the Ethereum PoS network are grouped into sets of committees and block proposers for each 32-slot Epoch. A validator on the committee is responsible for producing blocks for each 12-second slot.
These validators are automatically organized into sets of committees and block proposers for each 32-slot Epoch. A validator in a committee is charged with the duty of producing blocks for each 12-second slot. However, if the assigned validator is unavailable, it results in a missed block.Data from Glassnode revealed that the number of missed blocks on the PoS network has decreased by 90% since its daily peak of 259 missed blocks on 6 September, 2022. In the last year, this fell by 54%.
, a high participation rate indicates a reliable validator node uptime and, thus, fewer missed blocks and superior block space efficiency.Since the temporary slip of participation rate on the network to 97% on 7 December 2022, it regained its spot at 99%, where it sat at the time of writing. This meant that almost all the network validators were actively participating in the block production process.
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