Research: 78% of all staked ETH is across 4 centralized providers; 74% of all blocks are OFAC compliant Research: 78% of all staked ETH is across 4 centralized providers; 74% of all blocks are OFAC compliant
On-chain data reveals that approximately 8-9 million ETH is currently staked across four centralized providers.
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Updated: Nov. 17, 2022 at 6:09 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum (ETH) staking on-chain data shows that an estimated 78% of all staked ETH is across four centralized providers.
Currently, an approximated 8-9 million ETH is staked across the following four providers:
- Lido – 4.5 Million ETH staked
- Coinbase – 2 million ETH staked
- Kraken – 1.2 million ETH staked
- Binance – 1 million ETH staked
At press time, almost 75% of all blocks produced by ETH are considered Office of Foreign Assets Control (OFAC) compliant, with this number only increasing each week. Contrastingly, a total of around 15% of all blocks produced by ETH are still non-OFAC compliant, while the remaining 11% are ‘non-MEV-Boost’ blocks.
Just one month ago, an estimated 51% blocks were OFAC-compliant. In comparison to this current on-chain data, this shows a rapid transition in block censorship – jumping over 20% in compliance in just a month.
We reached another sad milestone in censorship: 51%
This means if the censoring validators would now stop attesting to non-censoring blocks they would eventually form the canonical, 100% censoring chain. pic.twitter.com/JrYUjowLpt— Martin Kรถppelmann ๐บ๐ฆ (@koeppelmann) October 14, 2022
Martin Kรถppelmann, co-founder of the decentralized platform, Gnosis, explained on Oct 14th that the direction towards 100% censorship of Ethereum blocks is one small step away.
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Kraken
Kraken is a San Francisco-based digital asset exchange in euro volume and liquidity that trades various currencies, including Canadian dollars, US dollars, British pounds, and Japanese yen.