Last Updated on October 4, 2022 by Bitfinsider
Since the switch to proof-of-stake (PoS) on the Ethereum network, staking Ether (ETH) has become essential for verifying blocks and safeguarding the network. However, some residents of the town think that the staking process is excessively challenging, particularly for normal people.
A community member brought up the issue of ETH staking and associated challenges in the Ethereum subreddit. The user claims that just setting everything up takes a whole weekend. According to the user, persons with “unforgiving” schedules might not be able to accommodate this. They penned: “The Ethereum community likes to sugarcoat usability but it’s healthier to just admit: this is not for everyone yet.”
Another member of the community responded to the conversation by sharing their own staked ETH experience and recalling the early days of Ethereum. The user pointed out that prior to the development of more user-friendly alternatives, blockchain interaction was likewise challenging. A node setup requires “more effort than we can expect the average person to put in,” the community member added.
Along with the problems in setup, the concern over bandwidth usage was also raised. Due to the excessive bandwidth usage, a user claimed that there is a chance of having your internet service provider disable your account. Another user said that the charges associated with exceeding the internet data cap might potentially wipe out any betting earnings.
Another member of the community disagreed, claiming that staking is not meant to be something that is simple enough for everyone to perform. “People keep treating staking as getting free cash when it isn’t. You are effectively being paid to do a job and this takes a certain amount of knowledge and effort,” they claimed.
Staking may provide some challenges, but there have also been some promising post-Merge advances. The daily blocks generated increased from 6,000 to 7,100 on September 15, the day of the Merge, representing an 18% increase. In addition, the time it takes validators to check transactions decreased on average by 13%.
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.
