At Ethereum Singapore 2024, Ethereum co-founder Vitalik Buterin explored how solo stakers Strengthen the safety and decentralization of Ethereum by decreasing dependence on centralized entities.
On September 16, Vitalik Buterin spoke about the importance of solo staking for the future of Ethereum safety and decentralization. During his speech, he highlighted the dangers posed by centralized entities and the way solo stakers play an important function in defending the community from assaults, guaranteeing its long-term sustainability and resilience.
Solo staking for community decentralization
Solo stakers are people who independently stake their cryptocurrencies, resembling Ether (ETH), with out counting on third-party companies, centralized entities, or staking swimming pools.
Buterin harassed the important function that solo stakers have for decentralization, noting that this uncoordinated and various group reduces dependence on centralized entities.
“The more we can strengthen solo staking (…) I think there are a lot of ways it can serve as a very important additional layer of defense in terms of security and privacy.”
From Buterin’s perspective, even a small proportion of solo stakers can add a necessary decentralized safety layer to Ethereum.
Defense in opposition to 51% assaults
In addition, Vitalik spoke about the function of solo stakers in the Protecting your community from 51% assaultsthrough which a malicious entity might receive the majority of the blockchain’s computational energy.
In conditions the place a 51% assault threatens the community, the key distinction lies in whether or not the attacker controls 50-56% or 57% or extra of the community’s energy. Upon reaching 57% or extra, the attacker can finalize blocks, which might probably result in a series cut up if left unchecked and unchallenged.
To fight this danger, Vitalik urged that Ethereum take into account elevating the block completion threshold from two-thirds to the next quantity, making assaults more durable to execute.
“One of the ideas I’ve been promoting recently is that (…) Ethereum should increase its quorum threshold from two-thirds to a higher number. Either three-quarters or possibly even higher.”
Buterin optimistic about Google’s computerized login
Recently, the co-founder of Ethereum additionally expressed his help on social media for the system. Google auto loginwhich generated dialogue about its implications.
On September 4, Buterin acknowledged the drawbacks of these companies as bridges to safe programs by way of account abstraction, however stated the danger could be price taking.
He urged that wallets utilizing this service obtain a “signature key” and a “M-of-N model with guardians”a multisig-like safety system to guard entry to delicate information or property.
