Vitalik Buterin is considering changes to Ethereum staking, yet despite an alluring 3.19% return, Flockerz is blowing it out of the water with 6,000%—let’s check it out.
Ethereum’s co-founder Vitalik Buterin has spoken on the importance of lowering the minimum required ETH for solo staking. Today (October 3), Buterin joined a public discussion on X to show his support for lowering the minimum ETH deposit requirement from its current amount of 32.
(@VitalikButerin)
$75,000 In ETH Currently Required To Become A Solo Staker On Ethereum
Solo stakers are tasked with running full nodes using personal computer equipment with no support from large-scale, third-party services, centralised entities or staking pools. The need for a minimum of 32 ETH (roughly $75,000) to be locked up to become a solo staker creates a huge barrier for entry.
The discussion on X was between multiple members of the Ethereum community regading the importance of solo staking to enable true decentralisation and also the current barrier for entry. Vitalik weighed in with a measured take. He said, “I think there’s a sane version of this where we recognize that 32 ETH is much more of a barrier than bandwidth reqs, and temporarily do a trade where we up the bandwidth reqs a bit and in exchange drop the staking deposit minimum to eg. 16 or 24 ETH.”
Buterin went on to say that once the team have worked through a number of technological hurdles, the minimum deposit for solo stakers could go as low as 1 ETH. “It’s net-good for both staking accessibility and scale. Then once we figure out peerdas, bandwidth reqs go back down, and once we figure out orbit SSF, the deposit minimum can drop to 1 ETH,” the Ethereum co-founder said.
If the minimum requirement for Ethereum solo staking did ever drop to 1 ETH, it would allow a much higher number of solo stakers onto the network. This in turn would make Ethereum an even more decentralised blockchain.
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Buterin Understands The Importance Of Solo Staking For Security And Decentralisation
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🚨👽 JUST IN: Vitalik is singing at Token 2049 Singapore to try pump our bags.
An honorable effort from Lord Vitalik
ETH/BTC is currently at 0.038 pic.twitter.com/WVYyfWOHQ3
— yourfriendSOMMI ❤️💛💚💙 (@yourfriendSOMMI) September 18, 2024
Solo staking has been a hot topic for Vitalik in recent times. During the Ethereum Singapore 2024 event last month, he highlighted the importance of solo stakers for strengthening Ethereum’s security and decentralisation.
During the conference, he said, “The stronger that we can have solo staking, I think there is a lot of ways in which that can serve as this really important extra layer of defense regarding security and privacy.”
It will be interesting to see if any action is taken to drop the minimum ETH required to become a solo staker. There are many within the community that are extremely keen to strengthen the network while earning passive income.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
