More than 600 validators were fined by Slash on the first day of launch. Is Ethereum 2.0 okay?

Compiled from Turstnode | PANews

So far, Ethereum 2.0 is running very smoothly, with a participation rate of about 97%, which is much higher than any testnet. On the other hand, the Ethereum 2.0 network also does a good job of constraining validator misbehavior, especially preventing them from making any violations that go beyond code requirements.

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Ethereum 2.0 validator "losing money"?

So far, the largest Slash penalty is 0.23 ETH, which is about 0.7% of the 32 ETH staked. However, this is just one person (and the first person to be fined by Slash), and in fact for most people who have been punished by Slash, the fine amount is mostly 0.0136 ETH or less.

On the other hand, there are far more people who "make money" on Ethereum than those who "lose money". Currently, among validators with 32 ETH mortgages, the largest "profit" reaches 0.0806 ETH, but most of the profit amounts Basically at or below 0.02 ETH.

The real problem is that with so many people being fined by Slash just a day after Ethereum 2.0 went live, it seems that some people may not realize the competitiveness of token staking. As of December 2, there have been 21 forked blocks on the Ethereum 2.0 blockchain, one of which was forked in the fifth epoch.

Ethereum 2.0 validators need to provide "evidence", but wrong "proof" can seriously weaken the network, and there is no way to distinguish between intentional misbehavior and accidental mistaken vouchering. For example, according to Ethereum 2.0 researcher Justin Drake (Justin Drake), if the Ethereum blockchain finds a block equivocation, the verifier will be fined by Slash, that is, as long as Validators who give "different assumptions" will be penalized. So, can validators circumvent this problem? According to Justin Drake, the issue could be due to validators running a lot of “fancy” verification redundancy and trying to bypass Slash penalty protection.

Justin Drake explained:

"Currently the largest Slash fine is only 0.23 ETH. This is because the Slash fine is actually very lenient. Ethereum 2.0 may just hope to isolate those misconducts."

In fact, the Ethereum community seems to have found some solutions. For example, StaFi Protocol, a decentralized protocol that provides mortgage asset liquidity, launched the solution to the Ethereum 2.0 pledge liquidity dilemma, namely rETH tokens. They allow users to deploy on The pledge contract on Ethereum participates in the pledge of Ethereum 2.0. Not only the pledge amount is not subject to the constraint of 32 ETH (the minimum amount of user pledge can be 0.01ETH, but there is no upper limit for the maximum), and the operation is very simple, even without running the node client, Invest in operation and maintenance costs, not to worry about risks such as being punished by Slash.

Although the vast majority of people are making money, it sounds a bit "scary" when you see that more than 600 validators were fined by Slash on the first day of Ethereum 2.0. Of course, 600 is still a small number compared to the 21,000 validators currently running on the Ethereum 2.0 network.