Ethereum's Staking, Transaction Fees, and Price Predictions: A Year in Review

A year after Ethereum's transition from proof-of-work to proof-of-stake, known as the Merge, the blockchain's energy consumption has fallen by 99.9%. However, Ethereum still faces challenges related to centralization, censorship, and exploitation by infrastructure intermediaries. Stake distribution raises concerns about centralization, as the largest staking provider, Lido, nears the 33% threshold that could compromise security. The practice of maximal extractable value (MEV) has become a source of centralization and censorship, with Flashbots playing a controversial role. Liquid staking tokens have gained popularity, offering an alternative to traditional staking. The net supply of ETH is decreasing, making it deflationary, but its impact on value remains uncertain.