The post The importance of individual Ethereum staking for Buterin appeared on BitcoinEthereumNews.com.

On September 16, 2024, during the Ethereum Singapore conference, Vitalik Buterin, co-founder and main face of Ethereum, highlighted a crucial aspect for the network: the importance of personal staking.  In his speech, Buterin explained how independent staking represents a key element to ensure both the security and the decentralization of the Ethereum blockchain, emphasizing the advantages that individual stakers bring to the network compared to centralized entities. What is Ethereum Staking? Why is it important for Vitalik Buterin? Staking is a fundamental process for the functioning of Ethereum in its Ethereum 2.0 version, which uses a consensus mechanism called Proof of Stake (PoS). In short, users who wish to become network validators stake a certain amount of Ethereum (ETH), committing them in a smart contract, to validate transactions and maintain the security of the blockchain. Currently, to participate in Ethereum staking it is necessary to own at least 32 ETH, a requirement that often leads many users to rely on centralized staking services or staking pools managed by third parties. However, Vitalik Buterin has highlighted the risks of such centralization, insisting on the importance of a more decentralized and personal approach. The Fundamental Role of Individual Stakers In his speech at the Singapore conference, Vitalik Buterin clearly explained why personal staking represents a vital solution for keeping Ethereum secure and decentralized in the long term. In particular, he highlighted the following points: Greater Resilience to Centralization: Many stakers, especially those who do not have 32 ETH, use centralized staking services or participate in pools managed by external entities. Although these services offer convenience, the risk of centralization grows as a few large entities accumulate a significant share of the staking power. In case of problems or attacks on these entities, the entire Ethereum network could be put at risk. Individual…

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Filed under: News - @ September 16, 2024 5:25 pm