- Ethereum and Shiba Inu are on the path to rebound after the US CPI data announcement.
- As the Merge draws closer, the Ethereum community is engaged in a debate on whether ETH is ‘security’.
- Ethereum and Shiba Inu are at risk of further decline in the bear market scenario.
The debate on whether Ethereum is security broke out on crypto Twitter (NYSE:TWTR) yet again, weeks ahead of the Merge—Ethereum’s transition from proof of work (PoW) to proof of stake (PoS). Nick Payton, a Bitcoiner on Twitter, argued that Ethereum users voted to change the properties of the asset, and the transition to proof of stake is evidence that the altcoin is ‘security’.
Vitalik Buterin, the founder of Ethereum, slammed critics and argued that proof-of-work proponents’ argument that voting on protocol parameters makes ETH security is false. Nodes reject invalid blocks in both PoW and PoS. The debate on whether Ethereum is a security is therefore raging on crypto Twitter alongside ETH’s recovery from the slump it witnessed after US C ...