Ethereum network bounces back as 60% validators go offline and first inactivity leak occurs

quick take

• On May 11th and 12th, the Ethereum network lost finality, causing over 60% of validators to stop working.
• About 330,000 validators have stopped participating in Proof of Stake twice.
• This equates to up to 60% of validators offline and not performing their duties. This resulted in 253 blocks not being proposed in time. Only four other times has he had more block misses than last week’s incident.
• of participation rate is defined as a measure of network validator responsiveness and tracks the ratio of missing slots to total available slots. Participation rate is calculated as (total slots – failed slots) / total slots. Participation dropped to 96%, but it soon went online, surpassing 98%.
• According to Glassnode, both incidents did not affect end-users to mainnet as transactions were being processed.
• First time I’ve had an inactivity leak. This is where inactive validators get penalized until they are moved off the chain or start rejoining.
• According to Glassnode, “Amounts deducted from validators’ beacon chain accounts during inactivity leaks are effectively burned, resulting in reduced ETH issuance during that time.”

With 60% of validators offline and the first inactive leak, the post-Ethereum network recovered and first appeared on CryptoSlate.