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Vitalik Buterin Proposed To Increase The Reward Of PoS Ethereum Validators

The Ethereum creator Vitalik Buterin published on GitHub a proposal on changing the reward scheme to validators after the transition to the second most capitalized cryptocurrency to the Proof-of-Stake (PoS). ... Запись Vitalik Buterin Proposed To Increase The Reward Of PoS Ethereum Validators впервые появилась Bit.news.
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Understanding Vitalik Buterin’s proposal to change Ethereum’s future staking rewards

Vitalik Buterin recently proposed a new reward scheme for staking Ethereum for when the protocol transitions to proof-of-stake consensus. The new scheme would provide scaling rewards based on the total amount of ETH locked up for staking. Proposal to Change Staking Rewards On Apr. 19th, 2019, Vitalik Buterin—the founder of Ethereum—proposed a change to the staking reward scheme for ETH. An increasing “max annual return rate” as the amount of “ETH validating” decreases acts as an incentivize for more people to participate in staking when proof-of-stake is launched—a design that’s important for security, said one commenting developer. Source: eth2.0 proposal #971 on GitHub Another Ethereum developer, JustinDrake, commented “targeting… ~32M ETH [for staking] in the long term feels about right for strong security.” Previously, the base reward was set at a flat 2.54 percent annual interest based on the assumption of 10 million participating ETH: eth2.0 Issue #971 on GitHub The new scheme would change the reward and return on investment to reflect the total amount of ether participating in staking. As such, the change is an increase to the staking reward assuming less than 100 million ether participates in the process—a likely scenario, as a few commentators suggested. Analyzing the Impact of the Change One thing to note is that even though the interest on staked ETH decreases, the total amount of rewarded ETH, and consequently inflation, increases. 134 million staked ether—yielding interest of 1.56 percent—results in annual inflation of 1.6 percent. At the other end of the scale, 1 million staked ether would translate to annual inflation of less than 0.2 percent. JustinDrake elaborates that roughly 32 million staked ETH seems healthy, which would give a yield of roughly 3.2 percent with annual inflation at approximately 1 percent. He goes on to say that half of the gas is burnt (assuming another proposal is passed) which would yield inflation of 0.5 percent and validator fees of roughly 5 percent. In a scenario where less than 33 million ether is staked then “doubling base inflation wouldn’t be unreasonable,” stated JustinDrake. So far, it is still uncertain when Ethereum will fully transition to a proof-of-stake consensus model. According to several Ethereum core developer meetings, it is possible that the protocol will exist in a hybrid proof-of-stake / proof-of-work consensus model for months, or even years. Given that information, the above proposals are far from solidified. These particulars will continue to change as the Ethereum community makes progress towards the full implementation of proof-of-stake. The post Understanding Vitalik Buterin’s proposal to change Ethereum’s future staking rewards appeared first on CryptoSlate.
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Vitalik Buterin Proposes Updated Staking Reward for Ethereum

Vitalik Buterin has put forth a proposal to increase the staking reward for Ethereum in the upcoming implementation of Proof of Stake (PoS). In a post to GitHub published on April 20, the Ethereum co-founder shared his opinion on the amount of ETH that should be paid out in staking once the currency switches to PoS. According to Buterin, that amount should be higher than what has previously be proposed. Ethereum, like Bitcoin and Litecoin, operates on a Proof of Work algorithm that requires computing power in the form of miners to validate transactions. Users pay a fee to miners to initiate coin transactions, while miners also participate in the minting of new coins at regular intervals. However, PoW has its drawbacks. For one, it incentivizes massive mining pools that are able to achieve profitability by generating a disproportionate amount of the network’s hasing power. Large mining pools also increases the competition for mined coin rewards and transaction fees, leading to an overall increase in the computing power contributing to the network. The end result is a massive investment of resources, in the form of both electricity and processors. Proof of Stake is one method for improving upon the efficiency of cryptocurrency-based blockchain networks, and the algorithm that Ethereum developers have to decided to transition the currency to over the next 16 months. Compared to mining, Proof of Stake employs an incentive system based around users “staking” coins in their wallet. The more coins a user has staked–in this case ETH–the more they contribute to the network functionality, and are rewarded with a payout. Similar to the dividends paid out to investors by certain stocks, staking is a regular compensation in proportion to the number of coins staked. However, as Ethereum moves through the process of transitioning to a PoS algorithm, the currency must contend with decisions such as the percentage of coins that should be awarded for staking. Buterin’s proposal will see the creation of 2,097,152 ether per year when 134,217,728 ETH is staked and serving to validate transactions. The result would be an annual dividend of 1.56% for investors–a small amount by some currency standards, but a reward that also avoids introducing over-inflation to existing ETH. Buterin also gives a breakdown of various payouts based on the Ether being staked. Compared to the former value, which represents a theoretical maximum staking for Ethereum (the circulating supply of ETH is only 105 million), 1 million staked Ether would result in a return of 18.10%, while 10 million would net stakers 5.72%. The value of staked Ethereum will likely fall far short of the proposed maximum, as many investors will choose to forgo tying up their coins in wallets and therefore making them unavailable for trading. Justin Drake, an Ethereum researcher, replied in the GitHub comments with his approval of Buterin’s algorithm. Targeting 32 million staked Ether, which Drake calls an ideal figure for maintaining network security, investors can expect a base return of 3.2%, with yearly inflation to Ethereum being around 1%–far less than the average U.S. dollar inflation rate of 3.22%. The post Vitalik Buterin Proposes Updated Staking Reward for Ethereum appeared first on Ethereum World News.
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Ethereum’s Vitalik Buterin Advocates for Better Staking Rewards for New PoS Algorithm Upgrade

Ethereum Co-Founder Proposes Higher Staking Rewards For Upcoming PoS Algorithm. Multi-talented blockchain developer, writer and co-founder of Ethereum Vitalik Buterin on April 20 proposed a higher staking reward for the upcoming proof-of-stake (Pos) algorithm implementation on the Ethereum blockchain on Github According to the proposal, 2,097,152 ether per year would be issued when 134,217,728 ether […]
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Ripple Tries to Lure Vitalik Buterin While XRP Community Start Doubting Their Position

Coinspeaker Ripple Tries to Lure Vitalik Buterin While XRP Community Start Doubting Their PositionWhile the cryptocurrency market seems to finally overcome the bearish trends, it gives a new wave of positive moods among the community. Nevertheless, the end of negative tendencies doesn’t mean that the industry as nothing to talk about.Buterin Lost His Chance at Ripple?Recently, the community has got an issue around the key industry’s figures to discuss. Brian Armstrong, the CEO of Coinbase, shared an article with its Twitter followers. The article tells about the facts US authorities refused to give a visa to Zoom’s CEO for eight times, and reveals how he managed to become a billionaire.Vitalik Buterin, the founder of Ethereum, also joined the discussion and disclosed some interesting details from his past, before he created Ethereum. David Schwartz, the Chief Technology Officer of Ripple, also responded to Buterin recalling the situation when he had problems with his US visa.“Fun fact: I tried to be an intern at Ripple back in the day (mid-2013), but US visa complications having to do with the fact that the company had only existed for 9 months and the minimum was 1 year stopped me,” Buterin shared his memories.Schwartz couldn’t keep silent in after such memories. “Think of the great things you might have accomplished! Maybe apply again? We’re always looking for good interns,” offered he.Though the major part of the Ethereum and XRP community found this little dialog rather funny, some of the community’s members considered Schwartz’s reply rather offensive and even arrogant.Nevertheless, Schwartz clarified that his response shouldn’t be perceived as a trial to offend somebody and it was just a joke. “Vitalik knows I have nothing but respect for him and his work,” explained he.Justin Sun, Tron’s CEO and founder, who is known for his poignant remarks also replied to Vitalik’s tweet, adding that they could have been buddies if they had both been at Ripple.When I found out these facts from @justmoon in late 2013/early 2014, had we both been at Ripple, I am certain we would have been buddies👬since we would have been the only 2 millennials there! @VitalikButerin https://t.co/ese30A1C0f— Justin Sun (@justinsuntron) April 19, 2019Such a close attitude is a little bit unexpected taking into account their previous wars but, as Coinspeaker has reported, during a recent interview on The Crypto Chick podcast, Justin Sun hinted at a potential collaboration with Vitalik Buterin.What’s Happening with XRP?Mentioning David Schwartz, it’s worth mentioning that just recently it has been revealed by one of Twitter users that Schwartz is selling his XRP stack. Such a move is viewed as one of the biggest warning sign one could ever get.According to this Twitter user, another Ripple employee was also observed selling his/her XRP over the past few days. The user said that it is a serious indication of the risk associated with holding XRP.Nevertheless, Schwartz reacted rather quickly trying to explain that his position is still a part of his ‘de-risking strategy.’Ripple Tries to Lure Vitalik Buterin While XRP Community Start Doubting Their Position
Coinspeaker

Vitalik Buterin Proposes Higher Staking Rewards for Upcoming ETH PoS Algorithm

Vitalik Buterin Proposes Higher Staking Rewards for Upcoming ETH PoS Algorithm Ethereum co-founder Vitalik Buterin proposed a higher staking reward for the upcoming proof-of-stake (PoS) algorithm implementation on the Ethereum blockchain on GitHub on April 20. Per the proposal, 2,097,152 ether per year would be issued when 134,217,728 ether is staked and validating transactions, resulting […] Cet article Vitalik Buterin Proposes Higher Staking Rewards for Upcoming ETH PoS Algorithm est apparu en premier sur Bitcoin Central.
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Vitalik Buterin news by Finrazor

DIGEST

Donald Trump appoints a pro-Bitcoin Chief of Staff, Facebook hires 40 ex-PayPal members and develops a stablecoin for WhatsApp, cryptojacking cases have risen 40%, Ethereum reaches 50M unique addresses, Vitalik Buterin gives $300K to three startups, the UK releases a new tax rule, OKEx launches Perpetual Swap, Coinbase migrates $5B to cold storage

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DIGEST

This week twitter-community is waiting for the BCH fork, reading Vitalik Buterin and expressing opinions... — nothing uncommon, but quite lively

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ESSENTIAL

Algorand is a new cryptocurrency and consensus protocol. Its two core technologies are the binary Byzantine Agreement and cryptographic sortition. Algorand’s main difference from other proof-of-stake systems is the absence of economic incentives for network participants, hence the viability of Algorand is currently a subject to wide debate in the community

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Bitfinex goes insolvent around the time of the April bubble, coincidence? No.

This is Willybot all over again. CryptoTrading claims 850mil is "seized" by officials. Bitfinex/Tether co obtain a 900mil line of credit with a 6.5% interest rate. Markets see unprecedented buying action, with Bitfinex as the leading exchange, leading to the 20k USD bubble. You can't tell me that the timing of this is all coincidence. This is the exact same thing that happened with MtGox and it's market manipulation effort to pay back its losses. On March 29, after further discussions, the representatives disclosed in a letter to the AG that the credit line had been closed and “during November 2018, Tether transferred $625 million held in its account at Deltec to Bitfinex’s account at Deltec. Ergo, Tether is not currently backed by a reserve (unless they have access to another credit line we aren't aware of, seems unlikely though). In other words a portion of this market is currently propped up by money that does not exist. So people can stop saying that this news "shouldn't impact Bitcoin", because it clearly should and will.
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XRP/USD and Stellar Lumens [XLM/USD] Price Analysis: Bear reigns as prices stagnate

The cryptocurrency market saw a roller-coaster ride over the past couple of months, and that was reflected in the prices and market caps of top cryptocurrencies. XRP, the third largest cryptocurrency, was stuck in the bear trap with no room for any bullish movement, while Stellar Lumens [XLM], which performed well at the start of the bull run, shared a similar fate to that of XRP. XRP 1 day Source: TradingView The one-day chart for XRP showed a downtrend that pulled the price from $0.517 to $0.371, while the long term support held at $0.291. The Bollinger bands moved parallelly due to the continuous sideways movement of the market. The Chaikin Money Flow indicator was below the zero line, as the capital leaving the market was much more than the capital coming into the market. The Awesome Oscillator recorded low amplitudes due to the lack of market momentum in the XRP ecosystem. XLM 1 day Source: TradingView XLM’s one day graph saw a drop in price from $0,278 to $0.138, while the long term support was at $0.074. The Parabolic SAR was above the price candles which signified that the cryptocurrency was going through a bearish atmosphere. The Relative Strength Index was closer to the oversold zone, a sign of the selling pressure being more than the buying pressure. The MACD indicator underwent a bearish crossover that caused the signal line and the MACD line to converge below. The MACD histogram was a mix of bearish and bullish signals. Conclusion The above-mentioned indicators clearly indicated that the cryptocurrency market was still in a bearish trudge and that there was no bull run in sight. This was evidenced by the significant drop in market momentum. The post XRP/USD and Stellar Lumens [XLM/USD] Price Analysis: Bear reigns as prices stagnate appeared first on AMBCrypto.
AMBCrypto

Bitfinex Allegedly Covers $850 Million Loss With Tether Funds

Bitfinex Allegedly Covers $850 Million Loss With Tether Funds The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall, according to an announcement published on April 25. Attorney General Letitia James revealed that her office obtained […] Cet article Bitfinex Allegedly Covers $850 Million Loss With Tether Funds est apparu en premier sur Bitcoin Central.
Bitcoin Central
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