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Ethereum Proof-of-Stake Consensus Layer: Participation and Decentralization

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arxiv 2306.10777 v2 pith:VWWSEP6D submitted 2023-06-19 cs.DC

Dominic Grandjean , Lioba Heimbach , Roger Wattenhofer This is my paper · ORCID
classification cs.DC
keywords ethereumdecentralizationconsensusstakingbeaconcausedchainissues
verification ladder T0 review T1 audit T2 compute T3 formal
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In September 2022, Ethereum transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS) during "the merge" - making it the largest PoS cryptocurrency in terms of market capitalization. With this work, we present a comprehensive measurement study of the current state of the Ethereum PoS consensus layer on the beacon chain. We perform a longitudinal study of the history of the beacon chain. Our work finds that all dips in network participation are caused by network upgrades, issues with major consensus clients, or issues with service operators controlling a large number of validators. Further, our longitudinal staking power decentralization analysis reveals that Ethereum PoS fairs similarly to its PoW counterpart in terms of decentralization and exhibits the immense impact of (liquid) staking services on staking power decentralization. Finally, we highlight the heightened security concerns in Ethereum PoS caused by high degrees of centralization.

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Cited by 2 Pith papers

Reviewed papers in the Pith corpus that reference this work. Sorted by Pith novelty score. Full citation record

  1. Verifiable Weighted Secret Sharing

    cs.CR 2025-05 conditional novelty 7.0 of 10

    A new CRT-based verifiable weighted secret sharing scheme with logarithmic proof size, using a novel zero-knowledge proof-of-mod technique built on Bulletproofs.

  2. EtherBee: A Global Dataset of Ethereum Node Performance Measurements Coupled with Honeypot Interactions and Full Network Sessions

    cs.NI 2025-05 conditional novelty 6.0 of 10

    EtherBee is a new public dataset of Ethereum P2P network activity from ten vantage points over three months, and its case study reports that latency-based peer pruning is associated with growing geographic concentration.

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