Would you like to become an Ethereum validator? You have to wait 45 days and here you will find out why

Would you like to become an Ethereum validator? You have to wait 45 days and here you will find out why

This year the Ethereum network has officially switched to a proof-of-stake consensus-salgorithm and has left proof-of work forever.

One of the diverse effects of the merger on the protocol is that there are no more Ethereum miners. Validators now secure the network, and the path to such a enormously simplified: Pay 32 ETH into the staking contract and carry out the corresponding software.

But it turns out that there is a fairly long queue for validators, and it can take some time to get one.

45 days to become an Ethereum validator

You read properly - if you have ETH and invest in securing the network and want to earn rewards for this important task, you have to wait ... a lot.

It seems that the activity as a validator is so popular that the queue is getting bigger.

Data from Wenmerge shows that 92,536 validators are currently waiting to enter the network. The cleanup will take about 45 days.

The competition is so big and it seems that practically nobody wants to get out. The exit queue currently consists of only 4 validators.

Celsius enters the queue

The competitive cryptocurrency loan is one of the reasons why the queue is so long.

According to Arkham Intelligence, Celsius Network has transferred ETH to the stake contract in the last few days worth around $ 600 million, and this rate shows no signs of slowing down.

Celsius takes steps to pledge the entire ETH currently kept, which corresponds to movements of almost $ 1 billion in on-chain flows.

In the last 24 hours you have used over $ 600 million at ETH, and your deposit rate shows no signs of slowing down. 👇 pic.twitter.com/8bw3xb15uh

- arkham (@arkhamintel) 2. June 2023

For the current prices, the above consists of around 316,000 ETH that are added to the validator input queue.

remember that in April cryptocolate potato reported that leading US cryptocurrency exchanges-coinbase and Gemini-joined the offer for the lender's assets.