Etherscan Blog
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Etherscan Blog

Consensus at the Threshold

Quick Look at Miners and Validators Crossing The Merge

Approximate hashrate change in Bitcoin network 2020–2021; by Takens Theorem + tools

Crossing The Merge Threshold

Data from Etherscan; plot by Takens Theorem
Data from Etherscan; plot by Takens Theorem
Vitalik considers several designs for striking this balance, such as “Inclusion Lists”

Censorship Issues

Data and plot with Etherscan tools; query by Takens Theorem

Conclusion: Decentralization

Data and plot with Etherscan tools; query by Takens Theorem
From Flashbots transparency dashboard

Endnotes

  1. A very important caveat is that in both PoW and PoS Ethereum fee recipients do not always reflect total participants (such as in pools); I simplify for this analysis, but one response is to say that any such concentration is concerning.
  2. Grim mining pun (for birds at least).
  3. Charbonneau has a nice description of such a feedback loop.

Further reading

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