Buterin Unveils His ETH Staking Strategy; Cardano's Hoskinson Says He's 'At A Loss For Words'

Vitalik Buterin, the "crypto prince" who invented the decentralized mining network and software development platform Ethereum, has revealed his staking strategy, earning mixed reactions from the community, including that of Cardano blockchain platform's co-founder Charles Hoskinson.

While unveiling his staking strategy, Buterin revealed the biggest reason behind his decision of staking only a small fraction of his Ether (ETH).

"Probably the biggest reason why I personally am not just staking all of my ETH, that I'm instead staking a fairly small portion, is because if you stake your ETH, it has to be all out, like the keys that access it have to be public on some system that's online, and for safety it has to be a multi-sig, and multi-sigs for staking are still fairly difficult to set up, and it gets complicated in a bunch of ways," Buterin said in a Bankless podcast.

The Ethereum founder underlined his concern over staking a large part of his ETH stash because of security reasons.

Reacting to Buterin's latest statement, Hoskinson, also a co-founder of Ethereum, said he had to listen to the podcast a few times and was "at a loss for words" on the Russian-Canadian programer's statement about his ETH staking strategy since he, for his part, has all of his Cardano staked.

"I had to listen to this a few times. I'm just at a loss for words. All of our Ada is staked. Guess what that's how it's supposed to be for a properly designed Proof of Stake protocol," Hoskinson tweeted.

Buterin, who is considered a crypto genius in the community, made headlines recently when he gave his opinion on the regulatory approach of the U.S. on cryptocurrency. The 29-year-old said that it is not right that his competitors are dealing with those kinds of issues.

"The one comment I'll make is that I feel bad that Solana and other projects are getting hit in this way. They don't deserve it, and if Ethereum ends up 'winning' through all other blockchains getting kicked off exchanges, that's not an honorable way to win, and in the long term probably isn't even a victory," Buterin said.

"This is especially true since the real competition is not other chains, it's the rapidly expanding centralized world that is imposing itself on us as we speak. I wish all honorable projects a fair outcome in this whole situation," he added.