The post Vitalik Buterin Pushes for 16 ETH Staking Minimum for More Accessibility appeared first on Coinpedia Fintech News
Ethereum co-founder Vitalik Buterin has laid out a vision to further decentralize the network without compromising security. In a post shared on X earlier today, Buterin suggested that Ethereum developers should rethink the current 32 ETH staking requirement, calling it a higher barrier than the network’s bandwidth demands.
Buterin’s proposal involves slightly increasing the bandwidth requirement to allow the network to lower the minimum staking deposit to 16 or even 24 ETH. This adjustment, he argues, would make staking more accessible while enhancing decentralization across the network.
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.It's net-good for both…
— vitalik.eth (@VitalikButerin) October 3, 2024
As the Ethereum developers work on the PeerDAS upgrade and the Orbit SSF, Buterin noted that there is a chance to lower the current staking minimum to 1 unit.
Ethereum Price Suffers Midterm Weakness
While Ethereum’s network upgrades remain a focal point, its price has been under pressure amid a broader crypto market correction triggered by Bitcoin’s fall below $61k. Technically, Ethereum is retesting a critical support level, signaling potential midterm weakness. However, a bullish rebound could be on the horizon if whale selloffs decrease.
Despite the daily death cross between the 50 and 200 Moving Averages (MA), Ethereum price has been forming a potential bullish rebound characterized by an inverted head and shoulder (H&S) pattern coupled with a bullish divergence on the Relative Strength Index (RSI).
Low Demand for ETFs, Investors Flee
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
Recent data indicates weak demand for US spot Ether ETFs, with net cash outflows totaling $557 million since their approval. On top of that, on-chain data shows that a participant from the initial Ether ICO has deposited 19,000 ETH (worth over $47 million) to centralized exchanges, signaling a likely selloff.
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Will reducing the staking barrier lead to a more decentralized and accessible network? Tell us what you think.
