VITALIK BUTERIN PROPOSES MAJOR UPGRADES TO ETHEREUM’S NETWORK
- Vitalik Buterin suggests reducing the minimum staking requirement from 32 ETH ($84,000) to 1 ETH ($2,600), making it easier for solo stakers to participate in Ethereum’s proof-of-stake model.
- The proposal aims to decentralize staking by reducing reliance on large platforms like Lido Finance, which currently controls 28% of all staked Ethereum.
- Buterin proposes “single-slot finality” to reduce Ethereum transaction finalization times from 15 minutes to just 12 seconds, significantly speeding up the network.
- Implementing single-slot finality could involve advanced cryptography or a two-tiered system for stakers, which may pose technical hurdles.
- Ethereum’s next major upgrade, Pectra, is set for early 2025, tweaking staker rewards and introducing further enhancements to the network’s performance.
