Lido DAO Approves Community Staking Module for Ethereum Mainnet Activation
Following a successful vote, Lido DAO has given the go-ahead to activate the Community Staking Module (CSM) on the Ethereum Mainnet.
As the first Lido Protocol feature to allow open access, CSM aims to allow a broader range of participants to operate Ethereum validators, even with minimal technical experience and less than 32 ETH.
Boosting Decentralization
According to the official press release shared with CryptoPotato, CSM will initially roll out to Early Adoption participants, but there are plans to make it fully permissionless soon.
The CSM aims to address several aspects of the Ethereum solo staking landscape by enabling users to participate with smaller ETH deposits. The initial bond requirement is set at 2.4 ETH (or 1.5 ETH for those approved for Early Adoption) for the first validator, dropping to 1.3 ETH for each additional validator.
Early Adoption participants, selected based on a community-led assessment of potential solo stakers, can start using CSM to run validators before it opens up to everyone.
Dmitry Gusakov, Lido Protocol Contributor and CSM Technical Lead, said that the new CSM model will allow more people to contribute to Ethereums security and decentralization, creating a healthier, more resilient network.
We want to break down barriers, making it possible for anyoneregardless of their financial circumstances or technical expertise to help secure Ethereum. Beyond technology, were also supporting the burgeoning global solo staker community through the Community Lifeguards Initiative to ensure everyone has the resources and knowledge they need to succeed.
CSM Testnet Success
According to Lido, the CSM aligns with Ethereum co-founder Vitalik Buterins vision of empowering solo stakers to strengthen the networks resilience. By enabling more independent stakers to join, CSM helps lessen the concentration of validation control held by a few large, permissioned entities. This increased diversity among operators is expected to boost Ethereums security, resilience, and censorship resistance.
Starting on July 1st, 2024, the CSM testnet has been live on Ethereums Holesky testnet and continues to be available. During this period of over three months, around 370 node operators have taken part, with 70 solo stakers joining in just the first 10 days.
The post Lido DAO Approves Community Staking Module for Ethereum Mainnet Activation appeared first on CryptoPotato.
Read more: https://cryptopotato.com/lido-dao-approves-community-staking-module-for-ethereum-mainnet-activation/
Text source: CryptoPotato
