Ethereum

1/ EIP-4844, which introduced blobs, is not the only EIP that can be easily observed with an unaided eye on Ethereum. 

☝️ Another notable one is EIP-7514.

It caps the activation churn limit per epoch at 8, while the exit limit will continue to correlate with the number of active validators on #Ethereum.

2/ The churn limit is a parameter that defines how many validators can exit or enter in one epoch.

The churn limit is dynamically calculated based on the network's current number of active validators. Understanding its calculation provides insight into how under-the-hood lines of code ensure the network’s stability.

Ethereum Segment Lead at everstake.one | ETH Staking

3/ What's really interesting is that prior to the Shappela upgrade, the community was only concerned about the exit queue and how long it may take to withdraw #ETH or stop a validator.

However, the launch of withdrawals had the exact opposite effect.

4/ While the exit queue rarely exceeded 1 day, the activation queue peaked at 47 days in early June following mass inflows of stakers and 395k ETH stake from Celsius.

Find more insight on ETH staking in 2023 in our Ethereum report:
🔗 everstake.one/link/ethereum-report-23

5/ In the summer of 2023, @dapplion expressed concerns about whether the network consensus could withstand the growing number of validators 🚩

To mitigate this in the short term, Dapplion suggested setting the activation churn limit to 12, which was later agreed to set even to a lower value, 8, by core devs.

6/ For a thorough understanding, watch the interview with Dapplion, where he explains all the reasons behind the EIP-7514, its necessity, technical intricacies, and economic risks involved.

📽️

6/ For a thorough understanding, watch the interview with Dapplion, where he explains all the reasons behind the EIP-7514, its necessity, technical intricacies, and economic risks involved.

📽️ https://www.youtube.com/watch?v=URQZVqgKZI4

7/ As @dannyryan said, this proposal was a sensible band-aid as it mitigates the negative externalities of the very high level of total $ETH supply staked until a more permanent solution is implemented.

At this moment, we can observe balanced queue after the EIP-7514 implementation.

🔗 validatorqueue.com

8/ To know what #Dencun brought besides blobs and churn limit cap, please explore our comprehensive overview where all EIPs included and explained:

8/ To know what #Dencun brought besides blobs and churn limit cap, please explore our comprehensive overview where all EIPs included and explained:

https://everstake.one/blog/ethereums-dencun-upgrade-key-features-and-market-implications