Whereas some consider that Ethereum’s upcoming shift to proof-of-stake (PoS) could 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 vary the properties on PoS platforms proves that PoS belongings are securities.
Pricey Proof of Stakers,
The truth that you may vote on one thing to vary its properties is proof that it is a safety.
— Nick (@NickDPayton) July 11, 2022
Buterin responded to the publish, describing Payton’s notions as an “unmitigated bare-faced lie.” Based on Buterin, PoS doesn’t embrace voting on protocol parameters, identical to proof-of-work (PoW) doesn’t. Buterin additionally defined that nodes reject invalid blocks in each PoS and PoW.
Final week, creator Jimmy Music additionally came after PoS, questioning the decentralization of the consensus mechanism. Based on Music, the mechanism would not resolve the Byzantine generals downside. Buterin referred to as out Music’s notions in a tweet:
Professional-tip: if there is a long-established custom of individuals debating A vs B based mostly on deep arguments relating 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 fallacious. 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 “degree of silly” in Music’s tweet is “past clarification.”
Associated: BTC bull Michael Saylor: Ethereum is ‘clearly’ a safety
In the meantime, Vivek Raman, a decentralized finance researcher, supplied optimistic 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.