Coinbase’s emergence as the Ethereum network’s largest node operator raises concerns about network centralization that could worsen as institutional adoption accelerates, industry executives told Cointelegraph.
On March 19, Coinbase published a data-ct-non-breakable=”null” href=”https://www.coinbase.com/blog/ethereum-validator-performance-report” rel=”null” target=”null” text=”null” title=”null”>report disclosing that the US cryptocurrency exchange controlled more than 11% of staked Ether ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/ethereum-price” rel=”null” target=”null” text=”null” title=”null”>ETH), data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/coinbase-largest-ethereum-node-operator-11-percent-staked-eth” rel=”” target=”_self” text=”null” title=”https://cointelegraph.com/news/coinbase-largest-ethereum-node-operator-11-percent-staked-eth”>more than any other Ethereum node operator.
According to Karan Sirdesai, CEO of Web3 startup Mira Network, Coinbase’s growing dominance highlights “a systemic issue in Ethereum’s staking…
