Coinbase Has Emerged as the Leading Node Operator on the Ethereum Blockchain, According to a Report from the Company.

The exchange controls a significant 11.42% of the total staked Ethereum, with approximately 3.84 million ETH (worth around $6.8 billion) locked in its validators.

Coinbase has a major presence on the Ethereum network as a node operator, according to a recent report by the company.

According to a recent report by the company, Coinbase has a major presence on the Ethereum (ETH) network as a node operator. As of March 3, the exchange controls a significant 11.42% of the total staked ETH, with approximately 3.84 million ETH (worth around $6.8 billion) locked in its validators.

While another staking platform, Lido, manages a larger collective stake, Coinbase holds the largest individual share of any single node operator in the network, as noted by Anthony Sassano, host of The Daily Gwei.

Coinbase also reported stellar performance metrics, having exceeded its validator uptime target with an astounding 99.75% uptime, surpassing its 99% goal. This achievement is a result of a 2024 upgrade that optimized the operation of validators during beacon node maintenance, according to the company.

Additionally, Coinbase's validators boast a participation rate of 99.75%, outperforming the Ethereum network's average of 99.52%. The company also shared that its validators excel in submitting blocks, with an average rate of 99.76%, slightly higher than the network average.

To ensure a truly decentralized Ethereum network, Coinbase disclosed that it operates validators across multiple regions, including Japan, Singapore, Ireland, Germany, and Hong Kong, despite being a centralized exchange platform.

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