Key Takeaways
- Vitalik Buterin highlighted the importance of solo stakers on Ethereum.
- Buterin said an increase in solo staking makes it harder to enforce censorship on Ethereum.
- Solo staking could also help defend Ethereum against 51% attacks.
Ethereum co-founder Vitalik Buterin has spoken out about the importance of solo stakers for stronger security on Ethereum.
Solo stakers are individuals who stake their cryptocurrencies without the help of any third parties or staking pools.
The Importance of Solo Stakers
Talking at the Home Staking Summit in Singapore last week, Buterin expressed how solo stakers are not aligned with any organizations – which makes them a difficult target for regulatory capture.
Samuel Chong, the presenter of the fireside chat with Buterin, posted a summary of the crypto billionaire’s talking points on X.
“What this means is that, certain organizations can try to impose censorship on Ethereum but will likely only go as far as delaying these transactions,” Chong wrote.
“Full censorship will be extremely difficult because solo stakers exist on Ethereum (amongst other mechanisms),” he added.
What Is a 51% Attack?
A 51% attack on a blockchain occurs when a single entity or group gains control of more than 50% of the network’s computational power, mining hash rate, or stake.
If the blockchain’s hash rate is higher, hackers will need more resources to gain majority control.
In early 2019, the Ethereum Classic (ETC) blockchain experienced a 51% attack, resulting in a theft of approximately $1.1 million ETC.
Ethereum Classic, a smaller blockchain with a lower hash rate than Ethereum, was particularly vulnerable to such an attack.
This incident raised concerns about the security of blockchains with lower levels of decentralization and mining power, particularly in relation to Proof-of-Work systems.
Raising Quorum Threshold
When it comes to defending against 51% attacks, Buterin suggested raising the quorum threshold from 67% to 85%.
At 85%, the current numbers of identified solo stakers and unidentified stakers would reportedly be sufficient to protect the network, Buterin noted.
If an attacker gains control of over 51% of the network, it’s possible to split the chain. But if they control over 67%, they could finalize incorrect changes to Ethereum’s past and future without facing punishment.
Another “more ambitious but realistic method” from Buterin is to increase the number of “solo stakers such that we become the quorum-blocking set of the current finalisation threshold.”
Vitalik compared Ethereum’s defense system to a house with strong, bulletproof windows but a weak door. Instead of over-investing in the windows, it would make more sense to reinforce the door as its the weakest point.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
