Ethereum Hive brings Crowdsourced Validation to the Ethereum Network
This past September saw the Ethereum Network shift from a Proof of Work (PoW) model to Proof of Stake (PoS), and with it, exchange it's Miners for Validators in the attestation of on-chain transactions. These Validators are now in charge of the security for the entire Ethereum Network, and the accountability of all addresses on-chain. Currently, the minimum funding required to operate a Validator is 32 Ethereum, which has resulted in over 55% of all active Validators being owned and operated by centralized staking entities such as Lido and Coinbase. The world of Decentralized Finance cannot be run by centralized corporations. Ethereum Hive at its core aims to challenge these entities and contribute to maintaining the decentralization of the Ethereum Network well into the future.
As an individual ~$45,000 USD is a lot of money to lock for an indefinite amount of time(estimated 1-2 years). This large barrier to entry discourages the average user from operating their own Validator, and creates an oligopoly for the centralized companies in the market of validation. We see this as a huge issue and detriment to the future of cryptocurrency. Our primary goal at Ethereum Hive is to make validation more accessible to the average user, and allow Ethereum's smaller market participants to have a share of the rewards. With the $EHIVE token, whether you have 0.01 ETH, 10 ETH, or 100 ETH, you can participate in the Ethereum Hive protocol and receive rewards from our entire Validator Fleet.