jakiro
Author: Brady, Figment; Compilation: Songxue, Bit Chain Vision Realm
This report covers all FIGMENT Ethereum verifications active in October, November, and December 2023.On Ethereum, we are the largest independent pledged provider, with more than 5%pledged ETH pledged on the FIGMENT verification device.Unless otherwise explained, all the data used in this report are provided by the FIGMENT data team.
In order to comprehensively understand the performance of the verifications, consider various factors and evaluate the performance of its long -term performance.Due to the randomness of selective data, transaction cost volatility, and verification device selection, comparison of each verification device in a short time does not provide accurate indicators.
index:
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About 23% of ETH circulation has been pledged;
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The average SRR rate of FIGMENT’s fourth quarter is 4.2%;
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0 dual -sign cutting events on the Figment verification device;
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The fourth quarter participation rate of FIGMENT Ethereum was 99.9%.
Ethereum’s transition to equity proof was launched in September 2022.The network upgrade was pledged to the authentication of ETH to help ensure the security of transactions and cast a new Ethereum.Before the merger of last fall, from the date of release, more than 10 million ETH preparations began to pledge among 400,000 verifications.
In the months since the merger, as more and more holders mortgage at least 32 ETH, the number of mortgages has steadily increased.According to Beaconscan’s data, as of December 2023, the total value of pledge locked has increased from 495,000 verificationrs on January 1, 2023 to more than 800,000 verifications, equivalent to more than 23% of ETH total supply.
award
Due to Ethereum’s transfer from a workload to a certificate of equity, the verified as the consensus layer (CL) and execution layer (EL) rewards at the same time.CL awards accounted for most of the fourth quarter rewards, about 75%, and EL awards were about 25%.
Consensus layer reward
CL rewards are allocated to verified as certifications, proposal blocks, and participation in synchronization committees.Prove that blocks are often occurred, mainly driven by the participation rate of the verification, which will be discussed after the report.In the fourth quarter, the medium value of FIGMENT is 0.002282 ETH per day per day, which is slightly higher than the network medium value of 0.002279 ETH per day.If the verified part is selected to propose a block, they will also get EL rewards.
Execution layer reward
The verifications will receive EL rewards only when the proposal block, which is a random and rare event (usually about every 64 days).Even if the verification is randomly selected to propose the block, the reward size is determined based on the transaction cost on the network.These costs include the priority of the block and the maximum extraction value (MEV) cost.EL’s cost fluctuates greatly and is mainly driven by network traffic during transactions.In the fourth quarter, when the FIGMENT verifier was selected to propose a block, the median they received was 0.052516 ETH, which was about 3%higher than the network median 0.05111 ETH.Since EL rewards are random, we expect this number to fluctuate quarterly.
Between these two types of rewards, the volatility of the CL reward is much smaller, and it is not easy to be affected by “luck factor” than EL rewards -below shows the variability between EL rewards and CL rewardsdifference.
Using median numbers as the indicator of reporting Ethereum rewards is more reliable than usage, mainly because the rewards generated by MEV activities are large and abnormal values.As a measuring criteria for centralized trends, medium numbers are not very sensitive to extreme values and abnormal values, and provide more representative values for the typical rewards obtained by the verifications.
Participation rate
Every 6-7 minutes, verifications on Ethereum are randomly selected to propose and verify new blocks and check their correctness.After that, the certification verification committee voted for the block approved, if a consensus reached a consensus, the block will be added.
The participation rate is an indicator of the frequency of successful proof of the verification that the verification person is agreed to choose the participation committee.Verivers may not be proved for multiple reasons, including shutdown or configuration errors.Therefore, the participation rate is a reliable indicator for the normal operation time of the network and the stability of the verification device.
In the fourth quarter, the performance of FIGMENT was higher than the average network, with an average participation rate of 99.9%, which was 0.3%higher than the average authentication.
Cutting incident
FIGMENT’s performance throughout the fourth quarter is still strong, and no proposal is missed, nor has it been cut due to any punishment.As shown in the figure, 127 cuts occurred on Ethereum on other fourth quarters of the fourth quarter, all related to the proof of illegal regulations.
FIGMENT pioneered the concept of “security than vitality” in our verification infrastructure, minimizing the possibility of being cut.We also provide insurance to reduce losses during cutting incidents.
