If appetite for staking on Ethereum does not slow meaningfully over the next several months, the size of Ethereum’s validator set could become problematic for the blockchain, says Christine Kim, Vice President of Research at Galaxy Digital.
, developers acknowledged the time-sensitive nature of the matter. “The [validator attestation] aggregation is almost at its capacity today. If we drop more validators on the network, it can really get worse,” said Mikhail Kalinin, a developer for the Teku client, on the call.that at 2.
Ethereum Improvement Proposal 7514 caps the growth of the validator set to eight validator entries per epoch . The addition of EIP 7514 to Cancun/Deneb buys developers a few more months to address the issue of validator set size growth, as the following chart shows: Though it is difficult to predict how quickly the Ethereum validator set will grow, it is likely to grow by some measure over the next several months because of the proliferation of liquid staking solutions. Liquid staking solutions lower the barrier to entry for many users to stake their ETH by allowing ETH holders to stake under the 32 ETH threshold and do so without giving up the full liquidity of their asset.
And the conversation about Ethereum’s validator set size growth does not end with EIP 7514. As discussed, EIP 7514 simply buys Ethereum developers more time to design long-term solutions, but not that much time. If appetite for staking on Ethereum does not meaningfully abate over the next several months, the size of Ethereum’s validator set will become problematic with or without EIP 7514.
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