The Most Pressing Issue on Ethereum is Validator Size Growth

However, the rate at which Ethereum’s validator set size is growing will soon make Holesky’s value obsolete. As of September 15, 2023, there are 806,759 active validators on Ethereum. Since the activation of staked ETH withdrawals in the Shanghai/Capella upgrade on April 12, the number of active validators has increased 43%. Without developer intervention, the number of Ethereum validators is set to exceed 1 million by the end of this year, assuming the maximum number of validators are activated on Ethereum, and no validators exit the network. Ethereum mainnet will reach a validator set size of 1.4 million under these same assumptions by March 2023.