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While the Ethereum co-founder Vitalik Buterin has been offloading his ETH holdings these days, he recently chipped in to address the concerns of the ETH staking community. In his message on the X platform, Buterin proposed the plan and roadmap to eventually bring the minimum Ethereum staking requirement to 1 ETH.
Vitalik Buterin on Ethereum Staking Requirement
Independent Ethereum educator Anthony Sassano reported that Ethereum’s transition to the Proof-of-Stake (PoS) mechanism was one of the major driving forces for his involvement with the Ethereum ecosystem and earning staking rewards.
He said that over the years, he has been running the solo validators all by himself while adding that “solo staking is the beating heart of Ethereum”. “Without solo staking (and the ability to run full nodes at home!), we lose the only thing that is worth anything real in this entire ecosystem – true decentralization,” he added.
However, one of the users responded to him saying that the minimum Ethereum staking requirement of 32 ETH has been a major deterrent to greater participation. Responding to this discussion, Vitalik Buterin proposed a few adjustments to the Ethereum staking requirements.
He also suggested that lowering the staking deposit minimum from the current 32 ETH to 16 or 24 ETH could enhance accessibility for users. Buterin also acknowledged that the 32 ETH requirement is a greater barrier than the bandwidth requirements.
He proposed temporarily increasing bandwidth requirements in exchange for lowering the staking threshold, describing it as a net positive for both staking accessibility and network scalability. Vitalik Buterin added that once bandwidth and peer-to-peer issues are resolved, the Ethereum staking minimum could eventually drop to as low as 1 ETH.
Last week, the Ethereum co-founder proposed an ‘Ethereum Alignment‘ concept to boost open-source value, economic unity, and synergy for the Ethereum ecosystem.
ETH Selloff Continues As ETH Price Dips Under $2,350
Ethereum (ETH) along with other altcoins continues to face major selling pressure. After ETH wallets linked to Vitalik Buterin sold their holdings last week, an Ethereum ICO-era whale is now selling its holdings.
In the last two days, an Ethereum ICO participant sold a total of 19,000 ETH worth a staggering $47.5 million. During the ICO event back in 2013, this whale had received a total of 150K Ethereum, now worth a staggering $358 million.
This #Ethereum ICO participant sold another 19,000 $ETH($47.54M) in the past 2 days!
The participant received 150K $ETH(ICO cost was $46.5K, now worth $358M) at #GENESIS.https://t.co/WbaTNzh5T4 pic.twitter.com/p82RcPRYMd
— Lookonchain (@lookonchain) October 3, 2024
The ETH price has come under strong selling pressure dropping over 8% on the weekly chart. Bitcoin and altcoins are facing a major shakeout ahead of the start of the ‘Uptober’ rally.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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