In what is an important feature for both the platform and Cryptocurrency, Coinbase has officially become Ethereum’s largest nod operator. Crypto Exchange actually operates 120,000 validers and controls more than 11.4% of the total wrapped Ethereum, according to its first Ethereum Validator Performance Report.
In addition, the platform reports 99.75% Valid Department and operating time. It actually verifies the vital location that the platform plays in the total ETH ecosystem. However, there are some concerns that arise from users about the concentration of the bet to a single device.
Coinbase controls 11.42% of all fenced Ethereum according to new report
It has really been a difficult year so far for Ethereum. Just this month, Default chartered Revised its price target for ETH, slicing by more than 60%. In addition, it has failed to gain some kind of speed in the midst of the market that has hindered much from the industry.
Now a new development has arisen that have some users worried about what it may mean for the safety of the platform. However, it is also a fairly important developer for Coinbase, as it has officially become Ethereum’s largest nod operator. In addition, it has taken the lead by a large margin, according to the latest report.
Also read: Ethereum ETH crashes below $ 1,800. What is the next for ether
However, the increase in the proportion of Coinbase has only strengthened decentralization issues. A user On X (formerly Twitter) noted this. Specifically, they said the 11.42% share “raises red flags for network security.” They shared that transparency was good, but pressed on the need for larger distributed validation. That feeling is probably shared by many in society.
