{"id":7222,"date":"2022-09-18T18:02:14","date_gmt":"2022-09-18T18:02:14","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=7222"},"modified":"2022-09-18T18:02:15","modified_gmt":"2022-09-18T18:02:15","slug":"cardano-founder-charles-hoskinson-calls-ethereum-hotel-california-of-crypto","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7222","title":{"rendered":"Cardano founder Charles Hoskinson calls Ethereum &#8216;Hotel California of Crypto&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p>Cardano (ADA) founder Charles Hoskinson has called Ethereum (ETH) the \u201cHotel California of Crypto\u201d in response to a tweet that claimed that ETH staking withdrawals might be delayed beyond the Shanghai upgrade.<\/p>\n<p>The Hotel California song is about a prison where no one escapes from.<\/p>\n<p lang=\"en\" dir=\"ltr\">Ethereum is becoming the Hotel California of Crypto https:\/\/t.co\/oRUw4kxvfS<\/p>\n<p>\u2014 Charles Hoskinson (@IOHK_Charles) September 16, 2022<\/p>\n<p>A screenshot from the Ethereum developers Discord group showed Micah Zoltu, founder of Serv.eth Support saying that all documentation and publications have clarified that there\u2019s no expected time for withdrawals of staked ETH.<\/p>\n<p lang=\"en\" dir=\"ltr\">And for the record, Ethereum withdrawals are *not* scheduled for Shanghai; there is no ETA. Key developer is not happy that exchanges and others keep stating otherwise. Source: their discord. pic.twitter.com\/PoWnb0fqeZ<\/p>\n<p>\u2014 St\u20b3k\u03a3 with Pride \ud83c\udf08 Ardana &amp; Hosky ISPO (@StakeWithPride) September 15, 2022<\/p>\n<p>The screenshot reads:<\/p>\n<p>\u201cSure, I\u2019m not suggesting that we never implement withdraws. I don\u2019t think there is significant urgency. I think there are other things that are far more critical to the long-term health of Ethereum than stakers being able to withdraw in 2023 rather than 2024.\u201d<\/p>\n<p>The comment appears to be a reaction to Kraken\u2019s email, which told its customers they would be unable to access their staked ETH until after the Shanghai upgrade.<\/p>\n<p>The Shanghai upgrade is expected to happen between six to 12 months after the Merge.<\/p>\n<p>CryptoSlate contacted Micah Zoltu for a clarification of his message but did not immediately get a response.<\/p>\n<p>Many within the community expect access to their staked Ethereum by 2023 after the Shanghai upgrade, but the latest information from the Ethereum developers discord group suggests otherwise.<\/p>\n<p>The Ethereum foundation had also stated that the \u201cShanghai upgrade will enable staking withdrawals.\u201d<\/p>\n<h2>Hoskinson questions Ethereum staking mechanism<\/h2>\n<p>Charles Hoskinson further questioned Ethereum\u2019s staking mechanism, wondering if there was not another way of \u201d implementing proof of stake that doesn\u2019t require locking assets like this.\u201d<\/p>\n<p>Unlike Ethereum PoS, Cardano PoS does not require users to lock their assets since they stake directly from their wallet and can withdraw whenever they want.<\/p>\n<p>However, Micah clarified his position on why withdrawals are not a priority. According to him, stakers are wealthy and can afford all the expensive hardware needed for staking.<\/p>\n<p lang=\"en\" dir=\"ltr\">Stakers on Cardano are everyday people who don&#8217;t need to be wealthy. I guess that&#8217;s the philosophical difference https:\/\/t.co\/ScJ6hZKlMi<\/p>\n<p>\u2014 Charles Hoskinson (@IOHK_Charles) September 15, 2022<\/p>\n<p>Hoskinson agreed with this saying that Cardano stakers are everyday people.<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/cardano-founder-charles-hoskinson-calls-ethereum-hotel-california-of-crypto\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) founder Charles Hoskinson has called Ethereum (ETH) the \u201cHotel California of Crypto\u201d in response to a tweet that claimed that ETH staking withdrawals might be delayed beyond the Shanghai upgrade. The Hotel California song is about a prison where no one escapes from. Ethereum is becoming the Hotel California of Crypto https:\/\/t.co\/oRUw4kxvfS \u2014 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-7222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7222"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7222\/revisions"}],"predecessor-version":[{"id":7224,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7222\/revisions\/7224"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7223"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}