Coinbase透露，它是以太坊上最大的节点运算符，有120,000个验证器

该交易所在一份新报告中声称，截至3月4日，它通过其验证者固定了384万ETH，占固定以太币的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节点运营商，截至3月4日，通过其验证器固定了120,000个验证者和384万ETH，占总固定以太的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.

该Exchange声称在2025年2月的正常运行时间为99.75％，这意味着其验证者在线且在本月的99.75％处于运营状态。

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.

该公司的目标是维持其验证器至少99％的正常运行时间，这与以太坊设定的最低正常运行时间要求保持一致。但是，Coinbase的验证器通常达到99.9％的正常运行时间，这表明其对无缝操作和最小停机时间的承诺。

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，出于安全原因，Coinbase将正常运行时间保持在99.9％以下。通过这样做，交易所声称它避免了安全问题，例如双重签名。

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.

自成立以来，Coinbase从未经历过双重签名或削减。削减是一种惩罚，以太坊验证者因犯下影响网络安全的违规行为而损失了一定比例的股份。被砍伐的令牌通常进入以太坊安全。

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.”

它说：“以99.9％的目标为目标，需要安全权衡，以增加双重签约的风险，从而削减罚款。在Coinbase，高度上升很重要，但我们始终将客户资产的安全性优先于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.

同时，交易所指出，二月份的正常运行时间高于预期的正常运行时间，这是由于其体系结构的升级，这使验证者即使在信标节点上进行了维护，也可以继续运行。

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%.

除了高高的正常运行时间，该报告还显示出相对较高的参与率为99.75％。该指标捕获了执行共识职责的验证者的数量，并且超过网络平均值99.52％。

Coinbase stake attracts crypto community attention

共插股股份吸引了加密货币社区的关注

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.

随着Coinbase披露其在以太坊中的股份，人们对以太坊的集中化的担忧已经浮出水面。尽管Exchange的11.42％股份比Lido小，但Coinbase是最大的节点运算符，而Lido是每个节点运算符的集体。

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.

一些用户，包括日常GWEI创始人Anthony Sassano，赞扬了Coinbase的透明度，而另一些用户则指出，它显示了对ETH的机构承诺。但是，大多数用户专注于股份的规模，他们认为这会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在其报告中解决了这些问题，并指出其验证者的多样性证明了该网络仍在分散的情况下。该交易所声称拥有两个共识客户，两个执行客户端和六个接力客户。

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.

共识客户是Lighthouse和Prysm，占总网络分布的63.8％。对于执行客户，Geth和Nethermind占网络分布的79个。这表明Coinbase共识和执行客户端主导了以太坊网络，这可能是因为其他验证者也使用了它们。

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.

尽管如此，该交易所指出了其继电器多样性，其中有六个独特的MEV继电器，其中四个是非审查的，这有助于降低集中化的风险，同时避免了单个失败点并最大程度地减少停机时间。它承认有多元化的风险，并表示有计划改善其客户多样性。

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

它说：“我们目前正在评估另外两个实施的生产准备，并计划继续扩大我们的客户多样性。”

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权力下放的一个领域是其验证者的地理位置。 Coinbase验证者在五个国家 /地区运营，包括新加坡，日本，爱尔兰，香港和德国，还有两个云提供商，亚马逊网络服务和Google Cloud Platform。