Ethereum: Assessing every nook and cranny of PoS network since merge

ambcrypto.com:

Described by Glassnode as the “most impressive feats of engineering in the blockchain industry,” the final transition of the Ethereum network from the consensus mechanism of Proof-of-Work (PoW) to Proof-of-Stake (PoS) occurred on 15 September.

On 15 September at 06:46:46 UTC, the last PoW mined block was produced at Ethereum blockheight 15,537,393, following which the merge was completed. 

With the Ethereum network functioning on a PoS consensus mechanism, new metrics to assess the performance of the all-new chain have been implemented by the on-chain analytics platform, Glassnode. 

Let us take a look at the performance of the PoS network since the merge. 

It is common knowledge that the transition into a PoS mechanism brought an end to mining on the Ethereum blockchain. To replace miners, a pool of validators was introduced.

These validators are automatically organized into sets of committees and block proposers for each 32-slot Epoch. A validator in a committee is charged with the duty of producing blocks for each 12-second slot. 

In some instances, this block-producing validator may be unavailable at the time, resulting in a Missed Block. The count for missed blocks on the PoS network rose to a high of 104 following the merge on 16 September.

However, it has since dropped, and as of 19 September, only 69 blocks were missed. 

Source: Glassnode

Glassnode found that two weeks before the merge, the participation rate on the Beacon Chain suffered a slight decline and fell below the typical 99% to be pegged at 97.5%.

However, this rebounded following the merge and was pegged at 99.059% at press time.

Source: Glassnode

Further, as mentioned above, the PoS chain’s validators are grouped into committees and block proposers for each