The Ethereum proof-of-stake network saw major progress in Q1 2023, with the number of validators more than doubling. Validators are crucial in providing network security and decentralization, as they validate transactions, literally preventing any invalid transactions from being added to the block. 13,600 physical nodes are scattered across 81 countries, and many are run by home stakers, who provide diversity to the network while also making it more resilient.

An individual or entity must deposit 32 ETH to become a validator. Once that becomes a reality, the validator earns staking rewards and ETH holders can also expect a reward if they choose to stake ETH. The total value staked on the Ethereum network is currently over 18m ETH, making it difficult and costly for attackers to take control and continue a reorganization of the network.

Furthermore, Ethereum validators have seen steady rewards since the launch of Beacon Chain in 2021, although some issues have been raised regarding the network's "centralized" nature. However, the Shanghai upgrade, expected to take place mid-April, is predicted to pull even more validators to the platform, which improves not just decentralization but security of the network as well. This could potentially have a bullish effect on the ethereum (ETH) price.



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