The creator of Cardano, Charles Hoskinson, recently made fun of Ethereum by quoting a video in which developer Justin Drake talks about staking. “I believe that one of the reasons is that you know how the banger is made when you make it,”
Some others took the slang phrase, which made reference to the disagreeable parts of sausage-making, to be an honest jab at the mysterious procedures involved in Ethereum staking.
According to U.Today, Vitalik Buterin, the creator of Ethereum, previously stated that his concerns about staking his Ether centre on operational and security issues.
He emphasised that the requirement for user keys to be publicly visible in order to stake Ethereum presents security concerns. While increasing security, the use of multi-signature (multi-sig) wallets adds another level of complexity.
With Buterin’s substantial fortune, which is expected to be between $1.46 and $1.5 billion, it is clear how difficult it will be to manage and guarantee the security of several wallets. Despite these reservations, Buterin’s “small bit” of staking may nevertheless amount to a sizeable sum given his estimated net worth.
Hoskinson’s criticism of Ethereum is not a one-off; rather, it continues a long line of criticisms of the technology. In the past, he called Ethereum “a dumpster fire” and even prophesied that it would eventually become obsolete, likening it to the demise of prior internet platforms.
Hoskinson made a more audacious forecast, suggesting that Ethereum may eventually switch to the Cardano platform, highlighting the latter’s promise of improved speed, cost-efficiency, and user volume.
