News05 October 2022

Ethereum's staking is too complicated - user opinion

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After Ethereum switched from proof-of-work to proof-of-share, its position changed a bit.

Ethereum staking now plays a significant role in verifying blocks and securing the network. However, some community members believe that the mining process is too complicated, especially for regular people. 

According to one Ethereum subreddit user, he had to spend the whole weekend to get things up and running normally after the update. To quote the text and Reddit, "The Ethereum community likes to sugarcoat usability, but it's more useful to admit: it's not for everyone yet."

And it's pretty hard to disagree with that because proof-of-stake has been heavily touted over the past couple of years. People have been paying attention to its benefits, even though it's well deserved, but discount its security and usability issues early on.

Another user pointed out that the costs associated with exceeding the online data limit could wipe out all betting revenue. After all, it's down to the most simplistic model of "throw a million into a DeFi platform and get a couple more." In truth, being a staking provider isn't just chill while crypto drips into your wallet.

"People keep thinking of staking as getting free money, even though it's not. You actually get paid for your work, and that takes some knowledge and effort," another participant in the discussion that arose pointed out. Although, this applies more to staking than to staking providers.

In the end, I would like to say that the number of blocks created has grown from 6,000 to 7,100. In addition, the average time it takes validators to validate transactions has decreased by 13%.

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