Cardano founder Charles Hoskinson criticized Ethereum founder Vitalik Buterin for staking only a small portion of his ETH holdings, claiming that this shows a lack of trust in his own protocol.
Ethereum founder Vitalik Buterin announced on his podcast that he only staked a small portion of his ETH holdings. He said that staking ETH is still quite difficult and complex, and he prefers to keep most of his ETH in a cold wallet for security reasons.
He also said that setting up multisig, a way of requiring multiple signatures to authorize cryptocurrency transactions, is complex and difficult for staking:
“Because if you stake your ETH, the keys to access it must be publicly available in a subsystem that is online. For security this needs to be a Multisig. Setting up Multisig for staking is still quite difficult; Things get complicated in many ways.”
Hoskinson, the founder of Cardano, a rival blockchain platform that also uses a proof-of-stake (PoS) consensus mechanism, was displeased by Buterin's admission. Hoskinson criticized Buterin on Twitter for his distrust of his own protocol:
“I had to listen to this several times. I can not find words to say. All of our ADA is staked. Now guess what a properly designed Proof of Stake protocol should look like.”
*Not investment advice.
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This article title is wrong and misleading : Cardano founder was NOT criticized. He criticized the founder of Ethereum, Vitalik, for not trusting ETH staking security level.