CandleFocus Ethereum Creator Vitalik Buterin Proposes Huge Changes to Network
2024-10-14
Author: Content Editor
Vitalik Buterin, co-founder of Ethereum, has proposed further improvements to the proof-of-stake model used by the network. He suggests lowering the financial barriers for solo stakers by reducing the threshold for participation from 32 ETH to 1 ETH. This could address concerns over centralization, as one decentralized platform currently accounts for 28% of all staked Ethereum. Additionally, Buterin proposes implementing "single-slot finality" to reduce the time it takes for Ethereum transactions to be finalized. This would bring Ethereum's properties in line with other performance-focused layer-1 chains. However, Buterin acknowledges that there are various approaches to achieving single-slot finality. The proposed improvements come as Ethereum's core developers prepare for the network's next major upgrade, Pectra.
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