11-18-2022 icon

Suspension of staked Ethereum transfers stirs wide criticism 

By Lucy Adegbe

Following the negative inflationary outcome of Ethereum post-proof-of-stake (PoS), reviewers have taken to Twitter, expressing concerns about Ethereum Foundation’s move to take out the transfer timeframe for staked Ethers. 

A digital currency community participant highlighted how the creators of the Ethereum network alongside its executives and influencers said that the transfers of staked Ethers are likely to commence six months post-merge. Subsequently, this time frame to open shifted to between six months to a year. 

The schedule was modified to 2023 or 2024 and has currently been taken out completely, the community participant further noted in his tweet.

Another tweet, in support of the initial tweet, noted that staked Ethers are irreclaimable expenditures as customers locked up their investments based on schedules with no granted time for withdrawals.

Contrastingly, proponents of the Ethereum network highlighted a series of replies to the negative tweets. Ethereum creator Antiprosynth published a Twitter post, underlining that the complaint unfolds at a period when the Ether space appears to dominate over BTC.

Co-owner of EthHub Anthony Sassano noted that the complaints appear to be an approach from BTC supporters to try to pinpoint new hitches on the Ethereum network after being invalidated by the Merge.

In the meantime, a recently reported attack on FTX has made cyberpunk the 35th biggest owner of Ether coin.