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ETH self-staking key to ‘atomic generational wealth’ — Ethereum dev

02-01-2024

Solo Ether staking from home could cost upward of $70,000 but could help make Ethereum more valuable in the long run.

Staking Ether (ETH) from home should be the “gold standard for staking,” and families should see it as a tool to create “atomic generational wealth,” notes an Ethereum core developer.

“Setting up a home validator could mean that your family operates that validator and secures the network for longer than a hundred years,” says Superphiz, a core developer and founding member of the ETHStaker Community in an interview with Cointelegraph.

Superphiz, who has argued for solo-staking before, started pushing the “#stakefromhome” narrative again last week when Geth — one of the network’s execution clients — reached an 84% network share among Ethereum validators.

The centralization concern prompted several validators to switch clients.

Superphiz argued that while third-party staking solutions offer a low barrier to entry compared to solo staking (which costs 32 ETH or $73,000 at current prices), these seek to custody funds under “centralized control.”

He argues, however, that the hefty upfront costs of solo staking will pay dividends in the long run as it makes Ethereum more decentralized, which will make Ethereum and its underlying asset more valuable.

This isn’t the case with the third-party staking solutions that are making Ethereum more centralized for short-term profits, he argues.

“As it stands, most of these holders are deposited into large institutions, leading to centralization and a long term devaluation of the asset,” he added.

However, Superphiz acknowledges that not everyone can fork out the 32 ETH to solo stake but said there are still plenty of ETH investors and stakers that could make the transition.

“If you have $75K of Ether, you already have a deep investment in the platform, I feel like most of these folks can spend a Saturday and watch a 30 minute staking video and get a validator operating if they wanted to."

Staking from home makes Ether “more valuable in the long run” and the “voice of Ethereum” becomes the voice of people around the world rather than a few centralized providers, he added.

“True decentralization gives confidence to national governments, corporations, and citizens that they can trust the chain and operate with confidence on the chain.”

Source: Cointelegraph.