365Crypto
Vitalik Buterin on Solo Staking and Ethereum’s Security
At Ethereum Singapore 2024, Ethereum co-founder Vitalik Buterin stressed the importance of solo staking in enhancing the network’s security and decentralization. Solo stakers, who stake their Ether independently without using centralized platforms or staking pools, play a crucial role in maintaining Ethereum’s resilience against threats.
Importance of Solo Staking for Decentralization
Buterin emphasized that solo stakers contribute to Ethereum’s decentralization by reducing the network’s reliance on centralized entities. He noted that even a small number of solo stakers adds a significant layer of protection. Solo staking presents a diverse and uncoordinated group, strengthening the system’s defenses. Buterin remarked that this diversity can provide “an important extra layer of defense regarding security and privacy.”
Guarding Against 51% Attacks
Vitalik also discussed the role of solo stakers in defending the network from 51% attacks. In such attacks, a malicious entity gains control of more than half of the blockchain’s computing power. When an attacker holds over 57% of the network, they could finalize blocks, potentially splitting the blockchain.
To mitigate this, Buterin suggested raising Ethereum’s block finality threshold from two-thirds to a higher number, such as three-quarters. This adjustment would make it harder for attackers to execute successful 51% attacks and would further strengthen Ethereum’s security.
source: https://cointelegraph.com/news/duckduckgo-phishing-scam-targets-etherscan-users
