Ethereum

<ul>
 <li>Buterin chimed in to point out that the PoW algorithm is centralized.&nbsp;</li>
 <li>Application-Specific Integrated Circuits (ASICs) were another topic that Buterin brought up.</li>
</ul>
As tensions rise within the Ethereum community, Vitalik Buterin, co-founder of <a href="https://thenewscrypto.com/bitcoin-and-ethereum-options-set-to-expire-traders-on-high-alert/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> and a supporter of the network’s transition from the Proof-of-Work (<a href="https://www.investopedia.com/terms/p/proof-work.asp" target="_blank" rel="noopener noreferrer nofollow">PoW</a>) to the Proof-of-Stake (PoS) consensus mechanism, has provided some justifications for the change. In particular, American entrepreneur Amanda Cassatt’s X post prompted his response.
According to Cassatt, many Ethereum users are privately complaining about the network’s move to PoS. After that, Cassatt recanted the idea that some Ethereum users wished the platform had maintained the PoW consensus mechanism.
<h3 class="wp-block-heading" id="h-aiming-at-decentralization">Aiming at Decentralization</h3>
A user on X directly questioned whether or not the <a href="https://www.investopedia.com/terms/p/proof-stake-pos.asp" target="_blank" rel="noopener noreferrer nofollow">PoS</a> transition would be beneficial to the Ethereum network, lending credence to the arguments in favor of the change. The transition, known as The Merge, occurred on Ethereum over a year ago.
Although few bring it up, <a href="https://thenewscrypto.com/vitalik-buterin-and-polygon-co-founder-dispute-verkle-trees-integration/" target="_blank" rel="noopener noreferrer nofollow">Buterin</a> chimed in to point out that the PoW algorithm is centralized. Because of this, it seems the PoS swap was aiming at decentralization of the network as well. Many entities were aware of the co-founder of Ethereum’s stance that PoW was simply a brief phase before PoS.
Core developers continue to argue that the network’s PoS transition will provide the blockchain with its most optimum speed gain, even if the Ethereum community may not like it.
Application-Specific Integrated Circuits (ASICs) were another topic that Buterin brought up, along with the negligence that seemed to accompany them. The Ethereum co-founder said this was because many were worried that there wouldn’t be enough of a financial incentive to build them due to the PoS.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/decentralized-exchange-shibaswap-moves-to-shibarium-offering-new-innovations/" target="_blank" rel="noopener noreferrer nofollow">Decentralized Exchange ShibaSwap Moves to Shibarium, Offering New Innovations</a>

Vitalik Buterin Clarifies Ethereum’s PoS Transition Amid Community Tensions

Table of Contents

TheNewsCrypto

Other articles published on Apr 26, 2024

Halving Is Complete: These 3 Coins Have The Perfect Setup For Over 10x Gains

MicroStrategy's Unrealized Profit Hits $6.2 Billion

Airdrops Briefly Covers Cost of Acquiring Solana’s Upcoming Mobile Phone

Bitcoin Price Prediction: As Arthur Hayes Sees Possible Bull Market On $1.4T US Liquidity Boost, ...

Mengintip Masa Depan Cerah Bitcoin (BTC): Fase Akumulasi dan Potensi Kenaikan Harga

Marathon Digital Sharpens Its 2024 Growth Strategy in Bitcoin Mining

Join our free newsletter for daily crypto updates!