Coinbase透露，它是以太坊上最大的節點運算符，有120,000個驗證器

該交易所在一份新報告中聲稱，截至3月4日，它通過其驗證者固定了384萬ETH，佔固定以太幣的11.42％。

Coinbase has disclosed that it is the largest node operator on Ethereum, with 120,000 validators and 3.84 million ETH staked through its validators as of March 4, representing 11.42% of the total staked Ether.

Coinbase透露，它是以太坊上最大的節點運營商，截至3月4日，通過其驗證器固定了120,000個驗證者和384萬ETH，佔總固定以太的11.42％。

The exchange claims to have an uptime of 99.75% in February 2025, which means that its validators were online and operational for 99.75% of the month.

該Exchange聲稱在2025年2月的正常運行時間為99.75％，這意味著其驗證者在線且在本月的99.75％處於運營狀態。

The company’s goal is to maintain an uptime of at least 99% for its validators, which aligns with the minimum uptime requirement set by Ethereum. However, Coinbase’s validators typically achieve an uptime of 99.9%, demonstrating its commitment to seamless operation and minimal downtime.

該公司的目標是維持其驗證器至少99％的正常運行時間，這與以太坊設定的最低正常運行時間要求保持一致。但是，Coinbase的驗證器通常達到99.9％的正常運行時間，這表明其對無縫操作和最小停機時間的承諾。

However, Coinbase keeps the uptime below the peak of 99.9% for security reasons. By doing so, the exchange claims that it has avoided security concerns such as double signing.

但是，出於安全原因，Coinbase將正常運行時間保持在99.9％以下。通過這樣做，交易所聲稱它避免了安全問題，例如雙重簽名。

Since its inception, Coinbase has never experienced double signing or slashing. Slashing is a penalty in which Ethereum validators lose a percentage of their stake for committing infractions that affect network security. The slashed tokens usually go into Ethereum security.

自成立以來，Coinbase從未經歷過雙重簽名或削減。削減是一種懲罰，以太坊驗證者因犯下影響網絡安全的違規行為而損失了一定比例的股份。被砍伐的令牌通常進入以太坊安全。

It said: “Targeting 99.9% requires security tradeoffs that can increase the risk of double signing resulting in slashing penalties. At Coinbase, high uptimes are important but we always prioritize the security of our customers’ assets over liveness.”

它說：“以99.9％的目標為目標，需要安全權衡，以增加雙重簽約的風險，從而削減罰款。在Coinbase，高度上升很重要，但我們始終將客戶資產的安全性優先於Livices。”

Meanwhile, the exchange noted that the higher-than-expected uptime in February is due to the upgrade in its architecture, which allows validators to keep operating even when maintenance is carried out on the beacon node.

同時，交易所指出，二月份的正常運行時間高於預期的正常運行時間，這是由於其體系結構的升級，這使驗證者即使在信標節點上進行了維護，也可以繼續運行。

Beyond the high uptime, the report also shows a relatively high participation rate of 99.75%. This metric captures the number of validators performing their consensus duty and exceeds the network average of 99.52%.

除了高高的正常運行時間，該報告還顯示出相對較高的參與率為99.75％。該指標捕獲了執行共識職責的驗證者的數量，並且超過網絡平均值99.52％。

Coinbase stake attracts crypto community attention

共插股股份吸引了加密貨幣社區的關注

With Coinbase disclosing its stake in Ethereum, concerns about centralization on Ethereum have resurfaced. Although the exchange’s 11.42% stake is smaller than Lido’s, Coinbase is the biggest node operator, while Lido is a collective with smaller stakes for each node operator.

隨著Coinbase披露其在以太坊中的股份，人們對以太坊的集中化的擔憂已經浮出水面。儘管Exchange的11.42％股份比Lido小，但Coinbase是最大的節點運算符，而Lido是每個節點運算符的集體。

Some users, including Daily Gwei founder Anthony Sassano, have praised Coinbase’s transparency, while others note that it shows institutional commitment to ETH. However, most users focus on the size of the stake, which they believe makes Ethereum less censorship-resistant.

一些用戶，包括日常GWEI創始人Anthony Sassano，讚揚了Coinbase的透明度，而另一些用戶則指出，它顯示了對ETH的機構承諾。但是，大多數用戶專注於股份的規模，他們認為這會使以太坊耐心降低耐心。

However, Coinbase addresses these concerns in its report, noting the diversity of its validators as proof that the network is still decentralized. The exchange claimed to have two consensus clients, two execution clients, and six relay clients.

但是，Coinbase在其報告中解決了這些問題，並指出其驗證者的多樣性證明了該網絡仍在分散的情況下。該交易所聲稱擁有兩個共識客戶，兩個執行客戶端和六個接力客戶。

The consensus clients are Lighthouse and Prysm, who account for 63.8% of the total network distribution. For the execution clients, Geth and Nethermind account for 79 of network distribution. This suggests that the Coinbase consensus and execution clients dominate the Ethereum network, likely because other validators also use them.

共識客戶是Lighthouse和Prysm，佔總網絡分佈的63.8％。對於執行客戶，Geth和Nethermind佔網絡分佈的79個。這表明Coinbase共識和執行客戶端主導了以太坊網絡，這可能是因為其他驗證者也使用了它們。

Nevertheless, the exchange noted its relay diversity, with six unique MEV relays, four of which are non-censoring, which has helped to reduce the risk of centralization while also avoiding a single point of failure and minimizing downtime. It acknowledged the risk of diversification and said there are plans to improve its client diversity.

儘管如此，該交易所指出了其繼電器多樣性，其中有六個獨特的MEV繼電器，其中四個是非審查的，這有助於降低集中化的風險，同時避免了單個失敗點並最大程度地減少停機時間。它承認有多元化的風險，並表示有計劃改善其客戶多樣性。

It said: “We are currently evaluating the production readiness of two more implementations and plan to continue expanding our client diversity.”

它說：“我們目前正在評估另外兩個實施的生產準備，併計劃繼續擴大我們的客戶多樣性。”

One area where the exchange appears to have more decentralization is the geographical location of its validators. Coinbase validators operate in five countries, including Singapore, Japan, Ireland, Hong Kong, and Germany, and there are also two cloud providers, Amazon Web Services and Google Cloud Platform.

交易所似乎具有更多權力下放的一個領域是其驗證者的地理位置。 Coinbase驗證者在五個國家 /地區運營，包括新加坡，日本，愛爾蘭，香港和德國，還有兩個雲提供商，亞馬遜網絡服務和Google Cloud Platform。