Whereas some consider that Ethereum’supcoming shift to proof-of-stake (PoS) might push the platform to ultimately surpass Bitcoin (BTC), others are taking this chance to make snarky remarks on Twitter, triggering a rebuttal from Vitalik Buterin, a co-founder of Ethereum.
In a tweet, Bitcoiner Nick Payton called out “Proof of Stakers” and argued that voting to alter the properties on PoS platforms proves that PoS property are securities.
Expensive Proof of Stakers,
The truth that you may vote on one thing to alter its properties is proof that it is a safety.
Love, Bitcoin
— Nick (@NickDPayton) July 11, 2022
Buterinresponded to the publish, describing Payton’s notions as an “unmitigated bare-faced lie.” In keeping with Buterin, PoS doesn’t embody voting on protocol parameters, simply likeproof-of-work (PoW) doesn’t. Buterin additionally defined that nodes reject invalid blocks in each PoS and PoW.
Final week, writer Jimmy Tune additionally came after PoS, questioning the decentralization of the consensus mechanism. In keeping with Tune, the mechanism does not resolve the Byzantine generals drawback. Buterin referred to as out Tune’s notions in a tweet:
Professional-tip: if there is a long-established custom of individuals debating A vs B primarily based on deep arguments referring to math, economics and ethical philosophy, and also you come alongside saying “B is dumb due to a one-line technicality involving definitions”, you are in all probability mistaken. https://t.co/22N0OaHyz1
— vitalik.eth (@VitalikButerin) July 3, 2022
Fellow Ethereum founder and PoS proponent Charles Hoskinson additionally gave his take, saying that the “stage of silly” in Tune’s tweet is “past clarification.”
BTC bull Michael Saylor: Ethereum is ‘clearly’ a safety
In the meantime, Vivek Raman, a decentralized finance researcher, provided constructive ideas on the upcoming Merge. In a Twitter thread, Raman mentioned that the change to PoS provides Ethereum the financial construction to problem Bitcoin’s supremacy within the crypto house.
Earlier in July, Ethereum accomplished a big trial for the Merge on the Sepolia testnet, pushing the platform nearer to the shift to the PoS consensus mechanism. Builders talked about that whereas there are some hiccups, they won’t delay the Merge.
Tags
Share this post:
