Vitalik Buterin Criticizes A Bitcoin Developer For Attacking The PoS Consensus Mechanism.
Ethereum creator Vitalik Buterin has defended the Proof-of-Stake (PoS) mechanism against accusations that it lacks decentralized consensus. The PoS assault was led by Bitcoin developer Jimmy Song, who pointed out that the protocol does not handle the Byzantine General’s Problem.
Buterin criticized Song in a tweet on July 3, calling his attack on PoS “dumb” because it was based on a technicality owing to definitions.
He said:
“Pro-tip: if there’s a long-established tradition of people debating A vs B based on deep arguments touching on math, economics and moral philosophy, and you come along saying “B is dumb because of a one-line technicality involving definitions”, you’re probably wrong,”
It should be noted that the Byzantine General’s Problem relates to the difficulties that decentralized systems have in deciding on a single truth. Notably, the problem has long affected money, and the emergence of Bitcoin was considered as a solution via Proof-of-Work (PoW).
Furthermore, Bitcoin aspires to provide a global solution to the problem, where the loyalty of more than 50% of processing capacity is sufficient to reach a consensus. The challenge is completed by various miners, each acting as a general. In this situation, each node attempts to validate transactions that are equivalent to general communications.
In addition, the usage of PoS cryptocurrencies seeks to address the Byzantine General’s Problem in an efficient and ecologically friendly manner, without the high energy and hardware expenses associated with PoW coins.
The process also eliminates the economies of scale that the largest miners benefit from in PoW, but PoS provides all users an equal chance.
PoS also tries to solve the Byzantine General’s Problem by enabling scattered and uncoordinated Generals to reach an agreement despite the fact that communication is not immediate.
Additionally, Ethereum is transitioning from the PoW technique to the PoS mechanism. At the moment, countries around the world are concerned about the PoW energy consumption rates, which are seen as environmentally unsustainable.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Vitalik Buterin Criticizes A Bitcoin Developer For Attacking The PoS Consensus Mechanism.
Ethereum creator Vitalik Buterin has defended the Proof-of-Stake (PoS) mechanism against accusations that it lacks decentralized consensus. The PoS assault was led by Bitcoin developer Jimmy Song, who pointed out that the protocol does not handle the Byzantine General’s Problem.
Buterin criticized Song in a tweet on July 3, calling his attack on PoS “dumb” because it was based on a technicality owing to definitions.
He said:
“Pro-tip: if there’s a long-established tradition of people debating A vs B based on deep arguments touching on math, economics and moral philosophy, and you come along saying “B is dumb because of a one-line technicality involving definitions”, you’re probably wrong,”
It should be noted that the Byzantine General’s Problem relates to the difficulties that decentralized systems have in deciding on a single truth. Notably, the problem has long affected money, and the emergence of Bitcoin was considered as a solution via Proof-of-Work (PoW).
Furthermore, Bitcoin aspires to provide a global solution to the problem, where the loyalty of more than 50% of processing capacity is sufficient to reach a consensus. The challenge is completed by various miners, each acting as a general. In this situation, each node attempts to validate transactions that are equivalent to general communications.
In addition, the usage of PoS cryptocurrencies seeks to address the Byzantine General’s Problem in an efficient and ecologically friendly manner, without the high energy and hardware expenses associated with PoW coins.
The process also eliminates the economies of scale that the largest miners benefit from in PoW, but PoS provides all users an equal chance.
PoS also tries to solve the Byzantine General’s Problem by enabling scattered and uncoordinated Generals to reach an agreement despite the fact that communication is not immediate.
Additionally, Ethereum is transitioning from the PoW technique to the PoS mechanism. At the moment, countries around the world are concerned about the PoW energy consumption rates, which are seen as environmentally unsustainable.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Patrick
CoinCu News
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