Vitalik Buterin Reveals Why He Doesn’t Stake All of His Ethereum
Vitalik Buterin, a co-founder of Ethereum, revealed that he does not stake all of his Ethereum (ETH) because of the complexity of multisignature (multisig) wallets.
On the June 29th episode of the Bankless Podcast, entitled “Restaking Alignment,” Buterin disclosed the “most significant” motive why he is only staking a small portion of his Ethereum, instead of staking all of it. He elucidated:
Charles Hoskinson, the co-founder of Ethereum and founder of Cardano (ADA), expressed his surprise on Twitter on June 30 after learning that Buterin only stakes a small amount of his Ether.
Hoskinson stated that he has “all” of his Cardano staked.
Buterin also spoke about the EigenLayer protocol, which allows Ethereum validators and stakers to transfer their assets to other emerging networks.
He noted that the issue is that it presents “centralization risks,” commenting:
Sreeram Kaanan, the founder of EigenLayer, stated that there are “complex risks” associated with re-staking and that it is essential to take a “constrained approach” when constructing restaking.
He stated that constraints are beneficial for the ecosystem, and that having constraints on building can unlock new innovations. He emphasized the importance of permissionless innovation as the driving value.
Vitalik Buterin and Polygon Co-Founder Join Forces to Contribute $100M to COVID-19 Research
Vitalik Buterin and Polygon co-founder are joining forces to contribute $100M to COVID-19 research.
Buterin’s View on Ethereum Blockchain Weaknesses
Buterin had declared in a blog post from June 9th that the Ethereum blockchain would be unsuccessful without a scaling infrastructure that would keep transactions affordable.
He also remarked that another area of weakness is associated with smart contract wallets.
He stated that the transition to smart contract wallets has presented certain issues due to the intricacies related to the user experience when users manage multiple addresses simultaneously.
SEC Declares ETF Filings Insufficient and Other News
SEC declares ETF filings insufficient, Binance loses European collaborator and other news: Hodler’s Digest, June 25th to July 1st.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments