Ethereum Co-Founder Vitalik Buterin Defends Switch To PoS.
Ethereum co-founder Vitalik Buterin has defended the switch from Proof-of-Work to Proof-of-Stake amid growing community questioning.
Amid growing internal wrangling within the Ethereum community, the protocol's co-founder Vitalik Buterin has offered some explanations for defending the network's switch from Proof-of-Work (PoW) to Proof-of- Stake (POS) consensus mechanism. Specifically, his response came as a direct reaction to an X post from American entrepreneur Amanda Cassatt.
Ethereum Community Members Questioning PoS Switch.
Cassatt claimed to have noticed how many Ethereum community members are privately expressing their displeasure about the network's transition to PoS. She went on to recant how some community members wish that Ethereum had stuck with the PoW consensus algorithm.
As a boost to support the reasons behind the switch to PoS, one X user openly asked a question that suggested that the PoS switch is the best decision for the Ethereum network.
"why would anyone want Proof of Work if they wanted the best for Ethereum?" the X user asked "They realize the network needed to ditch that "energy guzzling casino" brand, right?"
Joining the conversation, Buterin
highlighted that the PoW algorithm is
centralized, even though not so many
people talk about it. This suggest that
the PoS switch was also in pursuit of
network decentralization. The
Ethereum co-founder explicitly stated
that PoW was only a temporary phase
that preceded PoS and quite a number
of entities were aware of this position.
Bitcoin, the leading cryptocurrency by market capitalization, utilizes the PoW consensus algorithm and has seen significant performance over the years including an all-time-high (ATH) of more than $73,000. While the Ethereum community may not appreciate the network's PoS transition, the argument of the core developers remains that this new mechanism has what it takes to give the blockchain its most optimized performance boost.