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- Cardano creator Hoskinson mentioned that he has staked “all” of his ADA.
- Buterin attributed the issue to the complexities of multisignature wallets.
Vitalik Buterin, a co-founder of Ethereum, has indicated that he does not stake the entirety of his Ether due to the complexities associated with multisignature wallets. He discussed the “primary reason” for staking only a small fraction of his ETH during the June 29 episode of the Bankless podcast.
Buterin elaborated:
“When you stake your ETH, the keys that grant access must be public on an online subsystem. For security, it needs to be a Multisig. Setting up a Multisig for staking remains quite challenging; it becomes complicated in several ways.”
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On June 30, Ethereum co-founder and Cardano creator Charles Hoskinson expressed that he was “at a loss for words” upon discovering that Buterin only stakes a small fraction of his Ether. Hoskinson also noted that he has staked “all” of his ADA. Additionally, Buterin discussed a new protocol named EigenLayer, which allows Ethereum validators and stakers to “re-stake” their assets on other emerging networks.
Buterin remarked that the main challenge is that it introduces “centralization risks,” despite being in the testnet phase and not expected to launch until the third quarter of 2023. In this proposed framework, dependable stakers would receive greater rewards compared to those who are less reliable. Furthermore, the likelihood of reliable stakers being slashed is significantly reduced.
On June 9, Buterin stated that the Ethereum blockchain “fails” without sufficient scaling infrastructure to ensure low transaction costs, making this observation unsurprising. He also highlighted another potential vulnerability in the system: smart contract wallets.
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