In a recent podcast appearance, co-creator of Ethereum, Vitalik Buterin revealed information concerning ETH 2.0. He also spoke on the relationship between the two most popular cryptocurrencies – Bitcoin (BTC) and Ethereum (ETH).
In the POV Crypto podcast interview hosted by David Hoffman, Buterin discussed at length regarding the staking plan of ETH 2.0.
ETH 2.0 staking plan
Speaking on the podcast, Buterin threw more light on the future and development of the Ethereum Foundation project. Concerning the ETH 2.0 upgrade, he mentioned the possibility that the ETH issuance would be halved after its proposed launch.
Buterin also spoke regarding the staking percentage which the Ethereum Foundation wished to adopt under the ETH 2.0 paradigm. According to him, the Foundation should commit to staking about the same percentage that the entire Ethereum ecosystem staked altogether. In his opinion, when the Foundation maintained an identical staking percentage, it could help resolve certain conflicts.
It is pertinent to note here that staking percentage directly impacts on addressing any conflict of interest. Moreover, it works towards eliminating the manipulations associated with the ETH 2.0 proof-of-stake (PoS) model.
Internet money: ETH vs BTC
In the podcast interview, the Ethereum co-founder expressed his disapproval of regarding ETH as “internet money”. Refuting the implications of such a designation, Buterin pointed out that this was already causing rifts and disputes in the crypto industry. He affirmed that the initial emergence of cryptocurrencies seemed to coincide with the concept of digital money. Moreover, digital assets such as BTC and ETH had multiple applications. And this goes beyond being a mere medium of exchange or a store of value.
Buterin admitted that Ethereum’s “genesis” was no match for the “immaculate conception” of Bitcoin. However, he still believed that the initial token sale for Ethereum was “quite fair.” According to what he said in the podcast interview, the era when BTC was fairly unpopular presented a lesser benefit for early adopters. And this was even though mining was a fair way of gaining Bitcoin during the period.
Buterin also expressed confidence that Ethereum would become more decentralized as a result of the ETH 2.0 upgrade. Recently, he had reiterated that the release of the Topaz testnet did not mean the start of the anticipated “multiclient testnet.
We also covered the story of Ernst & Young (EY) looking to deploy Ethereum blockchain for business empowerment. In other related news, OKEx Pool has revealed plans to serve as an ETH 2.0 validator during the move from PoW to PoS consensus algorithm.
