Cardano founder expresses shock as Ethereum co-founder Vitalik Buterin says he only stakes a small portion of ETH due to difficulty achieving his safety standards.
Cardano founder Charles Hoskinson has expressed shock at a recent comment by Ethereum co-founder Vitalik Buterin regarding his stance on ETH staking.
In a viral video shared by Cardano SPO, Pride, Buterin disclosed that he only stakes a small portion of his ETH holding.
According to Buterin, he stakes a small portion of ETH due to safety concerns and the difficulty in achieving his standards for safety.
“The biggest reason why I’m not personally staking all of my ETH and staking a fairly small portion is because if you stake your ETH…the keys that access it have to be public on some system that’s online,” Buterin said. “For safety, it has to be multi-sig, and multi-sigs for staking are still fairly difficult to set up.”
Cardano Founder and Other Crypto Fans React
Interestingly, Buterin’s remark has stirred reactions from cryptocurrency community members, including Hoskinson.
Reacting to the comment, Hoskinson said he is “at a loss for words” after listening to Buteriin’s assertions. Hoskinson further revealed that his ADA holdings are staked, adding:
“Guess what? That’s how it’s supposed to be for a properly designed Proof of Stake protocol.”
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
— Charles Hoskinson (@IOHK_Charles) June 29, 2023
Hoskinson’s remarks come a few days after he said Cardano is gradually getting real adoption. As reported earlier, ADA total value locked (TVL) spiked by 148% this year alone.
Aside from Hoskinson, other crypto enthusiasts reacted to Buterin’s views on staking ETH. A Twitter user noted that Buterin’s comment sounds like he does not trust his own product.
Sounds to me like Vitalik doesn't trust his own product ?
— L₳theesan ?,? ?? (@LatheesanK) June 29, 2023
Furthermore, pro-XRP lawyer and CryptoLaw founder John Deaton reacted to the remark by tweeting shocking emojis.
— John E Deaton (@JohnEDeaton1) June 30, 2023
Buterin Warns Against Overloading Ethereum Consensus
Meanwhile, some crypto community members were not surprised by Buterin’s comment. Notably, Buterin has previously expressed concerns over Ethereum’s consensus mechanism, especially with regard to re-staking.
In a lengthy blog post titled “Don’t overload Ethereum’s consensus,” Buterin warned that stretching Ethereum’s validators beyond their core functions of validating blocks and securing the network could introduce danger into the system.
Don't overload Ethereum's consensus:https://t.co/07tzyCrZcJ
— vitalik.eth (@VitalikButerin) May 21, 2023
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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