- Ethereum developers are pushing for a proposal to increase the maximum staking amount.
- Although community members are critical of the proposal, some market players remain confident that the proposal will facilitate decentralization.
During the recently held Ethereum blockchain Core Developers Conference, developers discussed the potential integration of a new proposal. According to Michael Noider, a researcher at the Ethereum Foundation, the proposal could increase the maximum staking amount that Ethereum (ETH) validators can have in their possession.
Furthermore, the proposal is poised to enhance the entire Ethereum network, as it intends to significantly pump the amount of Ethereum (ETH) that a single node can stake, which will reduce the total number of validators on the network.
Presently, developers on the Ethereum network can only hold 32 ETH. However, the new proposal will allow the maximum amount a single validator can stake to go up as high as 2,048 ETH.
The proposal request has warranted criticism from members of the Ethereum community. Many claim that the proposal could do more harm than good. However, some prominent figures in the cryptocurrency market are convinced that the proposal could be of great benefit to the Ethereum network, its users, and developers.
CEO of CyberCapital shows support for Ethereum developers
Meanwhile, Justin Bons, the founder and CEO of CyberCapital, supports the recent development. In a series of tweets, Bons supports the latest Ethereum proposal. He explains that the move could facilitate power distribution and pushback on centralization. Bons explained in his tweet.
I support Ethereum’s latest proposal to increase the max validator balance to 2048 instead of 32 ETH. What matters for decentralization is the distribution of power, not the number of nodes. Forcing organizations to run more nodes is inefficient & obscures centralization! Currently, the minimum & maximum required ETH to stake is 32. This proposal only increases the maximum stake allowed on a single node, not the minimum stake of 32 ETH, which stays the same, avoiding the inefficient circus of singular parties running hundreds of nodes!
He asserted that the proposal could also significantly cut down on the intermediaries typically required to run many nodes. Brons conclusively supported developers and researchers within the Ethereum network and reiterated that he does not stand with the critics. The CEO wrote.
There is a huge industry around node services; several large companies are founded on this. As most professional investors do not want to run hundreds of nodes, better to hire specialists. Even though it is a good service; this proposal would lower the demand for such middlemen. Contrary to what other critics have said; this is a positive change. I am impressed by the researchers for proposing what they must have known was going to be a misunderstood EIP. Standing on principle.
