Benzinga - The Ethereum (CRYPTO: ETH) ecosystem has seen 226 validators being slashed out of the total 524,060, amounting to 0.04%, since the launch of the Beacon Chain on Dec. 1, 2020.
What Happened: In a tweet on Wednesday, Ethereum core developer “Superphiz'' said that people shouldn’t be concerned about staking ETH for that particular reason.
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“This is nothing to lose sleep over. Many slashings have occurred during failed system migration," the developer said.
Slashing is a process for keeping validators in line with the proof-of-stake consensus rules. When a validator breaches these rules, the network will remove them and punish them further by taking a portion of their staked Ether as a penalty. This penalty is known as slashing and serves to protect the stability and safety of the network.
2. Use doppelganger detection. I know you want perfect uptime, but it makes sense to look both ways before entering traffic, this is literally what doppelganger detection does for you. It's wise to throw away $0.06 to save $1700. (A slashing costs about 1 Ether)
— superphiz.eth (@superphiz) February 22, 2023“Wipe your old staking machine ASAP. Don't reuse the chain data to save time. Reinstall, reformat, and reduce the odds that a lingering service will sting you,” the developer adds.
Price Action: At the time of writing, ETH was trading at $1,668, up 2.18% in the last 24 hours, according to Benzinga Pro data.
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