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> Ethereum is switching to proof of stake, which uses a normal amount of electricity and forever solves this issue This has been said for a few years now. The

> Ethereum is switching to proof of stake, which uses a normal amount of electricity and forever solves this issue This has been said for a few years now. The originally deadline for this was January 2020. Suffice to say, it didn't happen. I'll believe it when I see it. Ultimately, Blockchain seems to me to be a solution in search of a problem. There are a lot of issues with the current implementations, and a lot of words about how to solve them, but these are hard problems, and there's no guarantees they're going to be solved, and they are often problems that our current financial tech industry just doesn't have.

dmihal 6y ago
> This has been said for a few years now. The originally deadline for this was January 2020. Suffice to say, it didn't happen. I'll believe it when I see it. Definitely not the first time a tech product has been delayed! The beacon chain (first phase of the PoS transition) is on it's final testnet right now and operating well. The community is hoping for a mainnet launch in November.
- TeMPOraL 6y ago
  > Definitely not the first time a tech product has been delayed! True! But in this case, the issue for most part wasn't just a delay because work took longer - but the question of whether or not it can be mathematically proven to work was open (and if it can't be proven to be possible and working, there's no point in trying). My intuition told me the result will be "it's not possible; waste in PoW is fundamental to these kinds of structures". I'm relieved to see I was wrong.