Vitalik Buterin declares he is not staking all of his ETH, merely a 'small portion’
Ethereum co-founder Vitalik Buterin stated that he does not stake all of his Ethereum (ETH) due to multisignature (multisig) wallets being “complicated in a bunch of ways.”
On the 29 June episode of the Bankless Podcast, titled Restaking Alignment, Buterin revealed the “biggest reason” why he is only staking a small fraction of his Ethereum, as opposed to staking the entirety of it. He explained:
Charles Hoskinson, the co-founder of Ethereum and founder of Cardano (ADA) took to Twitter on June 30 stating he is “at a loss for words” after hearing Buterin only stakes a small portion of his Ether.
Hoskinson added that “all” of his Cardano is staked.
I had to listen to this a few times. I'm just at a loss for words. All of our Ada is staked. Guess what that's how it's supposed to be for a properly designed Proof of Stake protocol. https://t.co/ye6va1DH06
Buterin also discussed the EigenLayer protocol – a protocol that allows Ethereum validators and stakers to “re-stake” their assets onto other emerging networks.
He said the challenge is that it creates “centralization risks," stating:
Sreeram Kaanan, founder of EigenLayer, explained there are “complex risks” with re-staking and it is important to take a "constrained approach in building restaking."
"Constraints being what is really good for the ecosystem? And having constraints on building what new innovation can be unleashed based on this concept. The driving value is permissionless innovation" he stated.
Related: Vitalik Buterin and Polygon co-founder to help send $100M toward COVID-19 research
This comes after Buterin stated in a June 9 blog that the Ethereum blockchain outright “fails” without sufficient scaling infrastructure to make transactions cheap.
He also noted
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