Ethereum (ETH): Vitalik Buterin Confirms His Opinion on Proof-of-Stake Model

Have you posted the year results on Twitter? If you didn’t, one of them was Vitalik Buterin. Just a few hours after the start of 2022, the Ethereum founder confirmed his support for the consensus mechanism” proof k-stakes “Despite the fact that he was a supporter of the system” proof-of-work ” last.

There is nothing better than Ether (ETH)

How he went from supporting the consensus mechanism pow to that of POS, buterin Specified:

“… In 2012, I briefly praised the waste of energy in PoW. But luckily, in 2013, I became more excited about the idea that proof-of-stake was a promising alternative. In 2014, I was finally persuaded…”

To justify his move for a more open approach, Buterin highlights the environmental costs of consensus proof-of-work and his faith economic efficiency the model of proof k-stakes,

Buterin shared his opinion on Bitcoin Cash

The battle for the ideal size of bitcoin blocks has led to many hard forks and many conflicts within the community. However, Buterin gave his verdict on the resulting Bitcoin Cash (BCH) and the verdict was not a pleasant one. Although the founder of Ethereum admitted that he was once optimistic As far as BCH’s approach is concerned, its approach has changed dramatically since then. He said:

“Today I would say BCH is mostly a failure. My main conclusion is that communities built around rebellion, even if they have a good reason, often struggle in the long run because they value bravery over skill. and rally around resistance instead of following a coherent path”.

As expected, it caused quite a stir.

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purpose of ethereum

Years go by, but some things obviously don’t change. Scalability is the most popular term this season, and Buterin admits that he still believes that no one should pay more than a nominal amount for online transactions. He confirmed:

“… however I stand 100% on my remark that ‘the cost of the internet of money should not exceed 5 cents per transaction’. That was the goal in 2017 and remains the same goal today. This is why we believe in scalability. But it takes so long to work…”.

In transition to Ethereum’s consensus system proof k-stakesButerin sees a way to rid the cryptocurrency of its reputation as an environmental disaster, as the system POS Very few resources are required to maintain the network.

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About the author: Seth Grace

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