Ethereum’s Co-Founder Reacts To Critics Of PoS In The Forthcoming Merge
Some people think that Ethereum’s impending switch to proof-of-stake (PoS) will enable the platform to eventually exceed Bitcoin (BTC), but others use this as an excuse to make rude comments on Twitter, which led to a response from Ethereum co-founder Vitalik Buterin.
Bitcoiner 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.” PoS does not contain voting on protocol settings, just as proof-of-work (PoW) does not, according to Ethereum Buterin. Buterin also clarified that nodes reject incorrect blocks in both PoS and PoW.
Jimmy Song, the author of a Bitcoin book, criticized PoS last week and questioned the decentralization of the consensus. Song claims that the mechanism doesn’t resolve the issue with the Byzantine generals.
Song’s ideas were criticized by Ethereum founder Buterin in a tweet:
Along with Buterin, another ETH founder and supporter of PoS Charles Hoskinson also shared his opinion, claiming that Song’s tweet is “beyond understanding” for its “degree of stupidity.”
Before Ethereum’s Merge, many detractors attacked PoS, but a decentralized finance researcher had encouraging words to say about the imminent change. Vivek Raman claimed in a thread 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 significant Merge test on the Sepolia testnet earlier in July. This brings the platform’s transition to the PoS consensus method closer. Even if there are some problems, the Merge won’t be delayed, according to developers.
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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Ethereum
Ethereum’s Co-Founder Reacts To Critics Of PoS In The Forthcoming Merge
Some people think that Ethereum’s impending switch to proof-of-stake (PoS) will enable the platform to eventually exceed Bitcoin (BTC), but others use this as an excuse to make rude comments on Twitter, which led to a response from Ethereum co-founder Vitalik Buterin.
Bitcoiner 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.” PoS does not contain voting on protocol settings, just as proof-of-work (PoW) does not, according to Ethereum Buterin. Buterin also clarified that nodes reject incorrect blocks in both PoS and PoW.
Jimmy Song, the author of a Bitcoin book, criticized PoS last week and questioned the decentralization of the consensus. Song claims that the mechanism doesn’t resolve the issue with the Byzantine generals.
Song’s ideas were criticized by Ethereum founder Buterin in a tweet:
Along with Buterin, another ETH founder and supporter of PoS Charles Hoskinson also shared his opinion, claiming that Song’s tweet is “beyond understanding” for its “degree of stupidity.”
Before Ethereum’s Merge, many detractors attacked PoS, but a decentralized finance researcher had encouraging words to say about the imminent change. Vivek Raman claimed in a thread 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 significant Merge test on the Sepolia testnet earlier in July. This brings the platform’s transition to the PoS consensus method closer. Even if there are some problems, the Merge won’t be delayed, according to developers.
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
Annie
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