What is the purpose of staking? And what is the motivation?
On this episode of “Money Reimagined,” Michael Casey and Sheila Warren will be exploring the ever-evolving world of staking with CoinDesk Ethereum protocol reporter Margaux Nijkerk.
Some are calling it the Shanghai upgrade. Others say that technically, it’s the Capella upgrade. Still, others are merging the two and calling this the Shapella upgrade.
Whatever you call it, this week’s “Money Reimagined” episode is tackling one of the more important changes to Ethereum’s core code since last year’s successful Merge to a proof-of-stake consensus mechanism. The key part of is the 32 staked ether each validator was required to lock up before and after the Merge to bootstrap the system is now being unlocked.
This might sound like a nerdy topic. But thanks largely to the excellent, clear explanations of Margaux Nijkerk, the episode makes it clear that everyone should care about this as the upgrade opens up some important questions that go to the heart of crypto’s core principles:
How to democratize blockchain systems so all users, not just the whales and corporate entities, have a stake (literally) in their governance and validation mechanisms
Whether the Securities and Exchange Commission’s recent crackdown on Kraken’s staking-as-a-service offering in the U.S. will make it easier or harder for individuals to participate
What all this means for arguably the most important principle of all: the goal of decentralization, the idea that a cabal of big players can’t ever collude to censor transactions
You’ll also hear a discussion of what unlocking such a large amount of ether might mean for the token’s price, get some education on how blockchain developer communities coordinate such upgrades and are invited to contemplate what all this means for the future of crypto.
See Also:
ConsenSys, Developer of Ethereum Software, Says zkEVM Public Testnet to Go Live March 28
Shanghai + Capella = ‘Shapella’: How Ethereum Devs Now Refer to Upcoming Upgrade
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Michele Musso produced and edited this episode with announcements by Adam B. Levine and our executive producer, Jared Schwartz. Our theme song is “Shepard.”
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