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Yes, that's why I bought it! But it's still proof-of-work-based. The future is proof-of-state. I know folks are trying to retro PoS into Ethereum, but I'll beli
by undoware 9y ago
Yes, that's why I bought it! But it's still proof-of-work-based. The future is proof-of-state. I know folks are trying to retro PoS into Ethereum, but I'll believe it when I see it. Many others are already there. I'd say: Bitcoin is first gen, Ethereum is second gen, and there are a variety of third-gen coins with good UX and proof-of-stake already on the market. I expect one (and probably only one) of these latter to become 'the Google of blockchain' and, eventually, become the backbone of the Internet of Value. My money is literally on Cardano, but the race has just begun.
Also, w/r/t ETH: gas prices are sky high, and getting higher all the time; and I can use it in even fewer places than I can use Bitcoin; and it's energy-hungry to mine. But you're right; there's a lot of shit built on top of it, which is why, for the moment, I'm holding ETH, and think that it's safe (but boring) to hold ETH medium-term.
- undoware 9y agos/state/stake/
- fastball 9y agoVitalik is enough of a force that if PoS becomes a priority it will happen. Gas prices? A standard transaction that will confirm in < 1min costs 4Gwei ($0.042) right now[1]. ETH isn't accepted in as many places because people are building DApps and ERC20 tokens, which are what you transact with on these services. But in order to get these tokens, you need ETH. That being said, ETH is getting wider and wider transactional attention. Coinmarketcap even lists all other alts wrt to ETH now (in addition to BTC). Most big exchanges now have many ETH/ALT pairs. 1. https://www.ethgasstation.info/ https://www.ethgasstation.info/
- undoware 9y agoGood points