As Ethereum inches toward ‘the Merge’–the last phase of its transition from Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism – the network has been taking criticism for moving away from PoW, which Bitcoin currently runs on.
Buterin Slams Jimmy Song for PoS Comments
Popular Bitcoin developer and contributor Jimmy Song has criticized PoS consensus networks for not addressing the Byzantine General’s Problem – the difficulty decentralized systems encounter in agreeing on a single truth.
Jimmy Song asserted that PoS blockchain networks do not “provide a decentralized consensus,” adding that the people who disagree with his opinion “are completely unqualified to make any claims about Proof of Stake.”
Reacting to Jimmy Song’s claims, Ethereum Co-Founder Vitalik Buterin wrote on Twitter (NYSE:TWTR) that the attack on PoS systems was “dumb” since he was basing it on a technicality of definitions.
Pro-tip: if there's a long-established tradition of people debating A vs B based on deep arguments touching on math, economics and moral philosophy, and you come along saying "B is dumb because of a one-line technicality involving definitions", you're probably wrong. https://t.co/22N0OaHyz1— vitalik.eth (@VitalikButerin) July 3, 2022
Charles Hoskinson Joins Buterin in Shading Song
Charles Hoskinson, the founder of Cardano–the most actively developed crypto project on the market–joined Buterin in reprimanding Song for his comments on PoS networks.
According to Hoskinson, Song’s take on PoS networks was simply labled “stupid.” The Cardano founder wrote on Twitter:
The level of stupid here is beyond explanation https://t.co/2ARGkcpBgG— Charles Hoskinson (@IOHK_Charles) July 4, 2022
On the Flipside
- The PoW model is not without its own criticisms, as jurisdictions around the world have raised concerns over the energy consumption rates of PoW, which are widely viewed as environmentally unsustainable.
Why You Should Care
PoW and PoS take different routes to reach consensus, hence the differing views between these developers.
For the latest on the Ethereum ‘Merge’, try:
Ethereum activates ‘Grey Glacier’ hard fork – ETH 2.0 deposits hit all-time high
Proof-of-Stake Goes Live on Ethereum After Successful “Test Merge” on Ropsten
Read about the impending Cardano Hard Fork below:
IOG Launches Vasil Hard Fork on Cardano Testnet, Prepares for Mainnet Deployment