Please ensure Javascript is enabled for purposes of website accessibility

Vitalik Buterin Reveals Staking Only Tiny Portion of ETH

Buterin pointed towards complicated multisignature wallets as the reason.

Vitalik Buterin, one of Ethereum’s founders, has said that he does not stake all of his Ether since multisignature wallets are “complicated in a bunch of ways.” Buterin explained the “biggest reason” he is only staking a tiny portion of his ETH on the June 29 edition of the Bankless podcast.

Buterin elaborated:

“Because if you stake your ETH, the keys that access it have to be public on a subsystem that is online. For safety, it has to be a Multisig. Multisig for staking is still fairly difficult to set up; it gets complicated in a bunch of ways.”

On June 30, Ethereum co-founder and Cardano founder Charles Hoskinson tweeted that he is “at a loss for words” after learning that Buterin only stakes a tiny percentage of his Ether. Hoskinson also said that he had “all” of his ADA staked. Buterin also spoke about a new protocol called EigenLayer, which lets Ethereum validators and stakers “re-stake” their assets on other new networks.

Buterin stated the primary difficulty is that it presents “centralization risks,” even though it is just in the testnet phase and is not anticipated to debut until the third quarter of 2023. In this proposed system, reliable stakers would be rewarded more than those who are less reliable. Also, reliable stakers chances of being slashed are much lower.

Buterin said on June 9 that the Ethereum blockchain “fails” without enough scaling infrastructure to make transactions cheap, thus this comes as no surprise. In addition, he brought out yet another potential weak spot in the system: smart contract wallets.

Highlighted Crypto News Today:

Surprise Transfer of $16M in LTC Sparks Speculation and Excitement



A crypto enthusiast. Loves to write. Gives full dedication to every task assigned. Specializes in delivering on tight deadlines. An animal lover, especially dogs.

Read More  Vitalik Buterin, one of Ethereum’s founders, has said that he does not stake all of his Ether since multisignature wallets… 

Invest in ACTS Token to unlock a revolutionary reflection-generating mechanism that fuels your revenue growth while contributing to a prosperous economy. Our unique cryptocurrency goes beyond the norm, combining financial intelligence and social impact to create a virtuous cycle of generational wealth and charitable giving.

$ACTS Token – Changing the World One ACT At A Time!

Check out ACTS Token’s, ACTS of Kindness featured in Times Square, NY!

Unlock Your Success Pathway with Dale from ACTS Token!
Financial Principles

Unlock Your Success Pathway with Dale from ACTS Token!

Unlock the Power Within: Navigating Success with Dale’s Three Pillars of Prosperity! Dive deep with us as we explore the influential mindset tweaks—good habits, active patience, and overcoming money fears—shared by Dale from ACTS Token, to not just enhance your wealth but also to embrace a life abundant in positivity and accomplishment.

Read More »
Crypto State of the Union
Financial Principles

Crypto State of the Union: September Dips, Halving Hype, and the ETF Revolution

In the world of cryptocurrency, September’s historical dips can leave investors perplexed. But fear not, as this blog post reveals the psychology behind this phenomenon and strategies to make the most of it. Plus, with the Bitcoin halving just around the corner and major institutions like BlackRock and ARK Invest gearing up to launch crypto ETFs, the crypto landscape is on the brink of a seismic shift. Dive deeper into the world of crypto and learn how to navigate these trends with confidence.

Read More »

Supercharge your crypto journey and seize exclusive insider insights, expert analysis, and valuable tips by subscribing to the ACTS Token Newsletter today!