HomeEthereumCo-founder of Ethereum replies to concerns of PoS in impending merger

Co-founder of Ethereum replies to concerns of PoS in impending merger

-

When discussing PoS voting, Vitalik Buterin called a critic’s assertion an “unmitigated bare-faced falsehood.”

While some anticipate that the impending switch from proof-of-work (PoW) to proof-of-stake (PoS) would enable Ethereum to eventually exceed Bitcoin (BTC), others are using the occasion to make snide comments on Twitter, prompting a reaction from Vitalik Buterin, a co-founder of Ethereum.

Bitcoin user Nick Payton criticized “Proof of Stakers” in a tweet and claimed that the ability to vote to alter platform attributes demonstrates that PoS assets are securities.

 

In her response, Buterin called Payton’s ideas “an utter bare-faced falsehood.” Buterin claims that, like proof-of-work (PoW), PoS does not allow voting on protocol settings. Buterin also explained that nodes reject invalid blocks in both PoS and PoW.

Jimmy Song, a writer, criticized PoS last week and questioned the decentralization of the consensus method. Song claims that the mechanism doesn’t resolve the issue with the Byzantine generals. Song’s ideas were criticized by Buterin in a tweet:

Charles Hoskinson, a co-founder of Ethereum and a supporter of PoS, offered his opinion as well, stating that Song’s tweet is “beyond understanding” for its “degree of stupidity.”

Decentralized finance researcher Vivek Raman, meanwhile, expressed support for the planned Merge. Raman claimed on Twitter that the switch to PoS has given Ethereum the economic foundation it needs to compete with Bitcoin for dominance in the crypto world.

Ethereum performed a critical Merge test on the Sepolia testnet earlier in July, moving the network closer to the switch to the PoS consensus mechanism. Even though there are some glitches, developers said they won’t postpone the Merge.

 

Leave a Reply

LATEST POSTS

The cryptocurrency breakthrough that will “end the controversies” is Ethereum’s “The Merge.”

This week, crypto fans are holding their breath. The second-largest blockchain in the world, Ethereum, will change to a fundamentally new way of functioning in...

Ether lost almost 10% what’s behind it ?

The bitcoin market was up at the start of the day, but with the publication of US inflation statistics, mood has considerably deteriorated. With a...

Bitcoin (BTC) and Ethereum (ETH) rebound – The underlying trend remains bearish, however.

Bitcoin (BTC) and Ethereum (ETH) appear to be regaining a solid bullish momentum after recovering from a significant purchase zone. Cryptocurrencies must overcome their resistances...

The Merge – Ethereum Update Date & Time – Timer & Countdown.

Learn the precise date and time of The Merge, Ethereum's greatest update since its inception in 2015 and the introduction of Ethereum 2.0. After Bitcoin, Ethereum...

Follow us

0FansLike
3,498FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img
%d bloggers like this: