The dominance of Geth, a major Ethereum execution client, has declined from 84% in January to 66% after Coinbase shifted half of its validators to Nethermind. However, experts believe that the battle for decentralization is far from over.
The reduced dependence on Geth addresses concerns about centralization risks for Ethereum. There were worries that a critical bug in an execution client with a 66% or higher share could disrupt the entire chain.
Despite the progress, one commentator warns against prematurely declaring victory. According to Coinbase Cloud, approximately 50% of its validators have switched to Nethermind, boosting its share to 22%. Besu holds a 10% share of Ethereum validators, while Erigon, also supported by Coinbase, has a 2% share. Together, these minority clients account for around 34% of the total share.
Execution clients are crucial for handling transactions and executing smart contracts on the Ethereum blockchain. Geth is considered the most advanced client but its overwhelming popularity among validators has led to a lack of diversity in execution clients over the years.
Lachlan Feeney, founder and CEO of Ethereum infrastructure firm Labrys, cautions against premature celebration. He argues that the methodology used by Client Diversity to obtain its figures is flawed and that Geth must fall below the 66% threshold by a significant margin to eliminate the possibility of a supermajority bug. Feeney believes that the “real victory” will only be achieved when no single client controls more than a 33% share.
Feeney emphasizes the importance of solo staking in diversifying execution clients, as it would also protect stakers from being vulnerable to a supermajority bug on Geth. Ethereum decentralization advocate “Superphiz” has warned that a critical bug in Geth could potentially wipe out 80% or more of staked Ether on the network. Currently, there are 31.5 million Ether staked, valued at around $113.5 billion.
Coinbase has committed to further diversifying its own validator set by evenly distributing them between Geth, Nethermind, and Erigon in the long run. Other entities such as Sigma Prime, Kiln, Octant, Lido, Ankr, and Twinstake have also reported reduced reliance on Geth.
In conclusion, the battle for decentralization in Ethereum is progressing, but there is still work to be done to ensure a more diverse execution client landscape.