Vitalik Buterin stakes only a modest portion of Ethereum, here's why

CryptoSlate
CryptoSlate

30 Jun 2023 8:49 AM

The Ethereum co-founder said the complexity of multi-sig staking stops him from staking more ETH....

  • Ethereum co-founder Vitalik Buterin stakes only a small portion of his ETH due to concerns about security and the complexity of staying safe.
  • Staking safely on the network requires multi-sig, which is still difficult to set up.
  • Multi-sig refers to requiring more than one user to sign and authorize a transaction, ensuring crypto assets remain secure even if a private key is compromised.
  • Ethereum Foundation researcher Justin Drake also doesn't stake all his ETH, citing rare, unpredictable events as influencing his decision.
  • Input-Output CEO and Cardano founder Charles Hoskinson stakes all of his ADA and implies that Ethereum is not properly designed.
  • Max Radeleus, co-founder of INTU, argues that Buterin might be underestimating what's possible with continued Ethereum innovation, mentioning the introduction of dEOAs (decentralized externally owned accounts) by INTU.

The sentiment of the article is mixed. Vitalik Buterin and Justin Drake express concerns about staking all their ETH due to security and unpredictable events. Charles Hoskinson criticizes Ethereum's design while promoting Cardano. Max Radeleus suggests that Ethereum innovation may address Buterin's concerns.

Go to publisher site

You May Ask

Why does Vitalik Buterin stake only a small portion of his ETH?What is multi-sig and why is it important for staking?Why do Justin Drake and Charles Hoskinson choose not to stake all their ETH?How does Max Radeleus argue against Buterin's concerns about staking?

Suggested Reads