{"id":242776,"date":"2022-06-14T02:10:37","date_gmt":"2022-06-14T01:10:37","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=242776"},"modified":"2022-07-24T23:47:36","modified_gmt":"2022-07-24T22:47:36","slug":"lido-staking-dominance-could-put-ethereum-at-risk","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/lido-staking-dominance-could-put-ethereum-at-risk\/","title":{"rendered":"Lido staking dominance could put Ethereum at risk"},"content":{"rendered":"<p style=\"font-weight: 400;\"><strong><a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a><\/strong><span style=\"font-weight: 400;\"> staking protocol Lido's dominance of staking has the potential of putting the entire blockchain at risk of a centralized attack when it eventually becomes a proof of stake network, an <\/span><a href=\"https:\/\/notes.ethereum.org\/@djrtwo\/risks-of-lsd\"><span style=\"font-weight: 400;\">article<\/span><\/a><span style=\"font-weight: 400;\"> from Danny Ryan, a researcher at Ethereum Foundation, argued.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The article titled the risks of LSD (Liquid Staking Derivatives), recommends setting a threshold limit for all Ether stakers, warning that investors should limit their exposure to the protocol because of the inherent risks of concentration.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">According to the article, if an entity should gain control of the distributed ledger due, it could temper with blocks recording.\u00a0<\/span><\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><strong>&#8220;Lido passing 1\/3 is a centralization attack on PoS. We\u2019re bad at assessing tail risk, but staking in Lido at these thresholds has a lot of it.&#8221;<\/strong><\/p>\n<\/blockquote>\n<h2>Lido developers disagree<\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, not everyone agrees with the call for staking entities to limit their exposure. Lido developer Vasiliy Shapovalov argued that the protocol exists to decentralize Ether staking so that centralized exchanges won't dominate the scene.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">According to the Lido website, it uses 21 validators. This kind of transparency isn't something that most centralized exchanges provide.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Founder of DeversiFi DEX, Will Hawthorn, also disagrees. He believes that Lido limiting Ether staking doesn't necessarily mean that other projects will grow.\u00a0<\/span><\/p>\n<p>Alex Svanevik, the CEO of the blockchain analytics platform Nansen, said, &#8220;I think it's too soon to impose self-limitation, if ever.&#8221; Svanevik, also a Lido DAO member, added,<\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><strong>&#8220;You could easily imagine a more centralized or more malicious entity with no self-limitation racing past Lido.&#8221;<\/strong><\/p>\n<\/blockquote>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Presently, Lido is the biggest provider of staking services on Ethereum. Although several centralized exchanges such as <\/span><a href=\"https:\/\/cryptoslate.com\/companies\/kraken\/\"><span style=\"font-weight: 400;\">Kraken<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/cryptoslate.com\/companies\/coinbase\/\"><span style=\"font-weight: 400;\">Coinbase<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\"><span style=\"font-weight: 400;\">Binance<\/span><\/a><span style=\"font-weight: 400;\"> also offer this service, Lido has 32% of the total tokens staked.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Data from <\/span><a href=\"https:\/\/dune.com\/eliasimos\/Eth2-Liquid-Staking\"><span style=\"font-weight: 400;\">Dune Analytics<\/span><\/a><span style=\"font-weight: 400;\"> show that Lido has 90.8% of the ETH2 liquid staking balance with over 4 million ETH staked. The next in line, Rocketpool, has only 183,040 ETH staked.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum staking protocol Lido&#8217;s dominance of staking has the potential of putting the entire blockchain at risk of a centralized attack when it eventually becomes a proof of stake network, an article from Danny Ryan, a researcher at Ethereum Foundation, argued. The article titled the risks of LSD (Liquid Staking Derivatives), recommends setting a threshold [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":243022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46940,61713,77923,37],"tags":[72190,77804,77334],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lido staking dominance could put Ethereum at risk<\/title>\n<meta name=\"description\" content=\"A new report from an Ethereum researcher has argued that the staking dominance of Lido could put the blockchain at risk.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/lido-staking-dominance-could-put-ethereum-at-risk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lido staking dominance could put Ethereum at risk\" \/>\n<meta property=\"og:description\" content=\"A new report from an Ethereum researcher has argued that the staking dominance of Lido could put the blockchain at risk.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/lido-staking-dominance-could-put-ethereum-at-risk\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-14T01:10:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-24T22:47:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/lido-staking-ethereum.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/lido-staking-dominance-could-put-ethereum-at-risk\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/lido-staking-dominance-could-put-ethereum-at-risk\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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