Cambridge data shows Ethereum nodes concentrate on cloud providers
New research from Cambridge's Centre for Alternative Finance shows that 31% of global Ethereum beacon node activity is located in the United States and that infrastructure is heavily clustered on three cloud providers: Amazon Web Services, Hetzner, and OVH. Ethereum has grown to over 880,000 validators since the September 2022 Merge to proof-of-stake, and earlier analyses showed AWS once hosted over 50% of nodes while three providers at times held more than two-thirds of node share. The concentration increases network stability and security risks and could affect price stability if outages or regulatory actions remove many validators.
31% of Ethereum beacon activity is based in the United States
Context
The Merge moved Ethereum to proof-of-stake in September 2022. Validator numbers rose above 880,000 and Cambridge tracked node locations. If concentration stays high, outages or rules could disrupt many validators.
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