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Ethereum Founder Vitalik Buterin Wants to Improve ETH Staking, Cardano Founder Reacts Sarcastically

source-logo  u.today  + 1 more 25 November 2023 12:45, UTC

Founder of IOG and Cardano, billionaire Charles Hoskinson, who took part in the creation of Ethereum together with Vitalik Buterin, Joe Lubin and several other individuals, has commented on Buterin's recent ideas about how to improve the centralized Ethereum staking. Cardano founder's comment about Buterin's ideas was pretty sarcastic, though.

Buterin wants to redesign Ethereum staking, Hoskinson reacts

In a recent interview of Vitalik Buterin in Turkey, where he answered questions from the local community, he talked about the Ethereum road map. In particular, Buterin touched on the topic of Ethereum staking as he said that "there is something to be done about staking centralization."

In particular, he mentioned current issues with multiple staking pools and "solo staking being hard," summarizing that these issues and others about it are "not really healthy." Buterin is considering introducing a redesign to the staking system on his blockchain. As one of the possible solutions here, the Ethereum frontman is considering the UTxO approach, which is based on unspent transactions.

Charles Hoskinson's sarcastic reaction to that was, "No worries, Ethereum 3 will have it all sorted."

No worries, Ethereum 3 will have it all sorted! https://t.co/Td0Hm58eic

— Charles Hoskinson (@IOHK_Charles) November 24, 2023

This is not the first time that Buterin has spoken about the need to redesign the staking system of Ethereum. Earlier this year, Hoskinson and the Cardano army have several times criticized him for admitting certain inconveniences that the staking system adopted by Ethereum bears and slammed Buterin for considering introducing features that Cardano had implemented already to make ADA staking easier for its users.

Whales stocking up on ETH in big way

According to prominent whale transactions tracking platform Whale Alert, over the past 30 hours, several massive chunks of Ethereum have been withdrawn from three major crypto exchanges: Bitfinex, Binance and Coincheck.

Anonymous whales have removed 50,000 ETH, 15,000 and 33,330 ETH from these platforms to their cold wallets, respectively. These lumps of Ethereum are evaluated at a massive $105,740,324, $31,138,359 and $68,795,390.

🚨 🚨 🚨 🚨 🚨 50,000 #ETH (105,740,324 USD) transferred from #Bitfinex to unknown wallethttps://t.co/EdbvxtXQ9o

— Whale Alert (@whale_alert) November 24, 2023

Besides, another anonymous wallet withdrew 1,498 ETH worth $3.13 million earlier today from Binance, while ETH traded at $2,089. Per @OnchainDataNerd blockchain sleuth account, within the past couple of days, this whale has accumulated 4,770 ETH in total, paying $2,079 per coin on average.

Crypto analyst Ali Martinez believes that currently, whales are going on a big Ethereum buying spree. He shared a chart showing that within the last nine days, big ETH holders have been accumulating large amounts of ETH for the first time in the past nine months. He considers this to be a bullish signal for the second-largest crypto.


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